Bihar Finance Minister Abdul Bari Siddiqui on Thursday said that the state recorded 7.6 per cent growth in the medium term (2011-12 to 2016-17), which is “better than the 6.8 per cent national average”.
Tabling the Bihar economic survey report for 2016-17 in the Assembly on the opening day of the budget session, Siddiqui said, “Despite the change in the base year by Central Statistical Organisation (CSO), Bihar’s growth rate is better than the national economy. GSDP of Bihar at constant (2011-12) prices in 2015-16 was Rs 3.27 lakh crore and Rs 4.14 lakh crore at current prices.”
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The state’s revenue between 2011-12 and 2015-16 rose from Rs 13,612 crore to Rs 25,449 crore, registering 19 per cent annual growth, he said. The secondary and tertiary sectors registered 18 per cent growth, he added. Poverty came down from 54.4 per cent in 2004-05 to 33.7 per cent in 2011-12.
One of the biggest takeaways from the economic survey, Siddiqui said, was the annual growth in registration of motor vehicles between 2010 and 2015. In this case, Bihar was only second to West Bengal, which recorded 24.2 per cent growth during the same period, he said.
Telephone connections in Bihar rose from 9.7 lakh in 2001 to 748 lakh in 2016. “The road construction department increased its investment from Rs 2,696 crore in 2007-08 to Rs 7,696 crore in 2016-17. Energy supply rose from 1,712 MW in 2011-12 to 3,769 MW in 2016-17,” he said.