Why is Bihar Rising?
Even with a lower base, Bihar has emerged as the fastest growing state in India. What are the key factors responsible for the same?
The growth of Bihar is attributed to:
- Secondary and Tertiary activities like construction and services like communication (CAGR 27.23% b/w 2004-05 and 2010-11). Secondary and tertiary activities grew by 15.04% and 14.07%, respectively, b/w 2004-05 to 2010-11, compared to 3.82% and 5.70% between 1999-2000 and 2004-05.
- Trade and Hotels (20.22%)
- Banking & Insurance (16%)
Below Figures gives an illustration of the break-up of the Bihar’s GSDP CAGR Growth (%).
GSDP – Gross State Domestic Product at constant prices (2004-05)
Source: Economic Survey, Government of Bihar, 2012
at constant 1999-2000 prices
** at constant 2004-05 prices