Jharkhand growth rate pegged at 7.8% this financial year, says economic survey

The report said that the state’s per capita income too had declined during the years of economic slowdown and Covid-induced lockdowns.

“The per capita income at constant prices – after being adjusted for inflation – increased from Rs 51,365 in FY 2020-21 and estimated to be at Rs 58,819 in FY 2023-22,” said the survey report. It further said that the per capita income of Jharkhand is one of the lowest in the country, and added that in 2000-01, the state stood at 26th position, and 2020-21 too, it was in the same position.

The rate of inflation also changed in Jharkhand as the report said that between January to October 2022, it remained above 6 per cent and only “marginally low” in November and December last year.

The report said that in Jharkhand, fuel, clothing and footwear prices have increased very sharply compared to other commodity groups during the last one and a half years, i.e. August 2021 to December 2022.

“The fuel inflation during this period, except for October 2022, remained in double digits. The prices of clothing and footwear increased at more than 7 per cent during this period. The combined weight of these two commodity groups is about 13.4 per cent in CPI, therefore, hike in their prices have influenced the inflation rate of the state substantially…The inflation rate in Jharkhand which has mostly remained less than that of the country exceeded between January 2022 and remained above it till June 2022 and almost equal to thereafter,” the report said.