March 3, 2021 5:55:42 am
Jharkhand Gross State Domestic Product (GSDP) grew by 6.7 per cent in 2019-20 compared to a year before but is estimated to contract by 6.9 per cent in the ongoing fiscal year, as per the Economic Survey released on Tuesday.
The report said that provisional GSDP in 2018-19 stood at Rs 2.24 lakh crore, which grew to Rs 2.4 lakh crore (projected) in 2019-20. The estimated contraction will bring the state’s GDP of 2020-21 at 2018-19 level, it said.
The Survey pegged the state’s receipt in the current financial year — both revenue and capital — at Rs 86, 370 crore (budgeted estimates) growing from provisional receipts of Rs 70, 732 crore in the previous fiscal.
On rural development front, the Survey highlighted that the number of houses supposed to be constructed under Pradhan Mantri Awas Yojna-Gramin fell short by more than 40%, as the scheme began in 2016-17. In the ongoing fiscal, against the target of 4,22,125, only 33,604 houses were completed despite 3,33,479 houses being sanctioned.
The Survey also mentioned that since the pandemic, unemployment rate rose in Jharkhand, reaching a peak of 59.2% in May 2020, and decreased gradually to 11.3% in January this year. In January 2020, the unemployment rate was 10.6%, it mentions.
Health remains a major cause for ‘concern’, with 66% of “out of pocket health expenditure” by the people in year 2020-21. The report said that inefficient public health facilities continued to suffer from “poor infrastructure and inadequate manpower”, thereby increasing dependence on the private sector, which is covered from household savings and by borrowing in the absence of health coverage schemes.
The Economic Survey also criticised the three farm laws, stating that they remain “silent” on “continuation” of MSP, which is “disturbing”.
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