Growth in Jharkhand all-pervasive, says state economic survey

Growth in Jharkhand is all-pervasive with impressive growth being registered from all sectors and most of the sub-sectors in the last five years, according to Jharkhand Economic Survey 2016/17, which was tabled in the Assembly today.
Between 2011-12 and 2015-16, the State's growth rate (constant price based on 2011/12) was 8.5 per cent and now it is 12.5 per cent, the Survey said.
In the last three years, the State's growth rate was in double digits.
The growth of GSDP (constant price) was 12.5 per cent in 2014-15 and 12.1 per cent in 2015-16. This year too, it is expected to remain approximately 12 per cent, the Survey said.

Jharkhand's growth rate is not only higher than the all India average, but has been higher than most of the States and Union Territories, it said.
The growth rate of only three States - Gujarat, Mizoram and Tripura - has been better than that of Jharkhand between 2011-12 and 2014-15, the Survey said.

The NSDP of Jharkhand and Chandigarh (constant price) grew 8.8 per cent per year, and the increase of Gujarat, Mizoram and Tripura was about 9 per cent.
Tripura and Mizoram come under special category States and get more grants from the Centre.
(REOPEN CCM11)
Based on the prevailing price, the per capita income of Jharkhand was Rs 62,818 against the national figure of Rs 93,231 in 2015-16. As per the figure of Gross Domestic Product of the state, Jharkhand has recorded an increase of 12.1 per cent compared to 7.6 per cent spurt at the National level in the same financial year, the survey said.

The state has registered an impressive improvement in all prominent sectors and sub-sectors of the economy between 2011-12 to 2015-16.
The agriculture and related sector has registered annual increase of 5.23 per cent, industry 7.2 per cent and service sector 10.63 per cent, it said.
The state witnessed improvement in its financial condition during the last three years and recorded an increase of 8.1 per cent on account to total collection during the year 2011-12 and 2013-14 but annual growth rate was 25.9 per cent between 2014-15 and 2016-17.
Jharkhand has also registered annual growth of 67 per cent on account of Planned expenditure during the last two years.

It was expected that the revenue loss of the state during the current financial year would remain 2.16 per cent of GSDP.
Total borrowings of the state in 2015-16 was 24.97 per cent of GSDP, which was within the set limits, the survey said.
Per capita loan of the state was within the limitation at Rs 15,897, which was less than one fourth of per capita income.