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Bihar registers 10.53% growth in 2018-19, better than national average

The state government on Monday tabled its 14th Economic Survey (2019-20) report in the Assembly, a day before the annual budget is to be presented.

By: Express News Service | Patna | Published: February 25, 2020 9:37:30 am
Bihar registers 10.53% growth in 2018-19, better than national average Bihar Deputy Chief Minister Sushil Kumar Modi. (File Photo)

Bihar’s economy has registered a 10.53 per cent (at constant prices) and 15.01 per cent (at current prices) growth in 2018-19, which is higher than the national average. The Gross State Domestic Product (GSDP) was Rs 5,57,490 crore at current prices and Rs 3,94,350 crore at constant (2011-12) prices in 2018-19. The Net State Domestic Product (NSDP) in 2018-19 was Rs 5,13,881 crore at current prices and Rs 3,59,030 crore at constant prices.

The state government on Monday tabled its 14th Economic Survey (2019-20) report in the Assembly, a day before the annual budget is to be presented.

Speaking to reporters, Bihar Deputy Chief Minister and state Finance Minister Sushil Kumar Modi said, “The main growth drivers of the economy having registered a double-digit growth during 2018-19 are air transport (36.0 per cent), Other Services (20.0 per cent), trade and repair services (17.6 per cent), road transport (14.0 per cent) and financial services (13.8 per cent).”

Modi said as per the 15th Finance Commission recommendations, the share of Bihar in the total shareable resource pool of the Centre had increased from 9.67 per cent to 10.06 per cent for the year 2020-21. The total revenue receipt of Bihar in 2018-19 was Rs 1,31,793 crore and capital receipt Rs 20,494 crore. The revenue expenditure and the total expenditure in the state were Rs 1,24,897 crore and Rs 1,54,655 crore respectively.

The receipt from the tax revenues increased by Rs 14,791 crore in 2018-19 to Rs 1,03,011 crore, which is 16.8 per cent higher than the previous year. The non-tax revenue was Rs 4,131 crore during 2018-19, after an increase of 17.8 per cent over the previous year, said the economic survey report.

The report said foodgrain production in Bihar in 2018-19 stood at 163.12 lakh tonnes. The production of cereals increased from 143.21 lakh tonnes in 2017-18 to 158.58 lakh tonnes in 2018-19.

Under the Jal-Jeevan-Hariyali campaign, the state government recently launched a new scheme of Jalvayu ke Anukul Krishi (Climate Resilient Agriculture) Karykram. Egg production has increased in the state from 111.17 crore in 2016-17 to 176.34 crore in 2018-19.

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