Jharkhand fares better than national average in economic survey

Jharkhand fares better than national average in economic survey RANCHI: The Jharkhand Economic Survey 2016-17, which was tabled in the ongoing budget session of the state assembly on Saturday, has indicated an impressive growth on all economic fronts in the last five years.The survey points out that the growth rate between 2011-12 to 2015-16 at constant price has been 8.5% and at

present price 12.5%. In 2014-15, the growth rate at current price in Gross State Domestic Product (GSDP) was 12.5% whereas against a national average of 7%, it was 12.1% in the state in 2015-16. For the year 2016-17, a growth rate of 12% has been projected in the survey.

However, in the fiscal 2015-16, the state's per capita income at the present price has been Rs 62,816 against the national figure of Rs 93, 231.

Development commissioner cum additional chief secretary Amit Khare said that the performance of Jharkhand has been better than the national average and a majority of other states and Union Territories. Khare further said between 2011 -12 and 2014-15 the growth rate of only three states- Gujarat, Mizoram and Tripura was higher than Jharkhand. The annual growth of Net State Domestic Product (NSDP) of Jharkhand and Chandigarh at constant prices was 8.8% whereas that of Gujarat, Tripura and Mizoram was over 9%. Khare argued that the reason behind this could be Mizoram and Tripura were northeastern special category states which also receives more Central subsidy.

The survey also indicates that there has been a convincing growth in almost all sectors of the state economy. For example, the agriculture and allied sector has registered an annual growth of 5.23%, industrial sector 7.2% and service sector maximum of 10.63%.

In the planned expenditure and annual growth, 67% has been recorded in the last two years. The revenue deficit is expected to be 2.16% of GSDP in the current financial year.

Later, the House passed the third supplementary budget of Rs 2,069 crore amid din by the opposition. Earlier, the House was adjourned as the opposition continued to disrupt proceedings in protest against the CNT/ SPT Acts amendment Bill.