Bihar tops country in GDP growth rate at 13.1%
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Bihar tops country in GDP growth rate at 13.1%

Last Updated: Saturday, June 02, 2012, 09:56
 
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Bihar tops country in GDP growth rate at 13.1%
Zeebiz Bureau

New Delhi: Bihar, a state fraught with abject poverty, has come out on top as the fastest growing state second year in a row, with a striking 13.1percent growth in 2011-2012. Its economy has also grown bigger than that of Punjab — the prime destination for Bihari workers.

Bihar is followed closely by Delhi and Puducherry. Following closely after Delhi and Puducherry is the Naxal-ridden, mineral-rich Chhattisgarh. Goa rounds it off to complete the list of top five productive states, according to the Ministry of Statistics.

Gujarat and Tamil Nadu grew by 9 percent, considering the growth credible as the states are growing on a larger basis.

With the state on the road to improving its overall outlook and condition, the Bihar government has improved the law and order situation, increased agricultural productivity and has given way to better state-funded programmes for health and education.

The accumulated growth rates of Punjab, Andhra Pradesh, Karnataka and Uttar Pradesh are pegged lower than that of India’s GDP growth of 6.5 percent in 2011-12, the ministry said.

Hit hard by global woes and domestic problems, India's economic growth rate slowed to a nine-year low, both in the March quarter at 5.3 percent as well as in 2011-12 at 6.5 percent, prompting the industry to demand "immediate and bold action" to arrest slowdown.

The decline in growth was witnessed in almost all segments of the economy including agriculture, manufacturing, mining and construction.

The Central Statistical Organisation (CSO) has revised the growth rate for 2011-12 to 6.5 percent from 6.9 percent estimated earlier. This is the lowest growth rate since 2002-03 when the economy grew by 4 percent.

The manufacturing output slowed to 2.5 percent, from 7.6 percent in previous fiscal.

With Agency inputs




First Published: Saturday, June 02, 2012, 09:27


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