PATNA: The growth rate for Bihar for 2010-11 is projected at 10.05 per cent, a marginal fall from 11.70 per cent during the corresponding period previous year, according to the state’s economic survey 2010-11 presented in the state Assembly today.
The economic survey 2010-11 brings out that at current prices, the GSDP for Bihar in 2009-10 was Rs 1,72,138 crore, with a per capita income of Rs 17,959 as compared to the Gross State Domestic Product (GSDP) of Rs 75,608 crore in 2004-05, with the corresponding per capita income of Rs 8,528, Bihar Finance Minister & Deputy CM S K Modi said.
During 1999-00 to 2004-2005, the economy had grown at an annual rate of 3.5 per cent, but it grew at the rate of 10.93 per cent during 2004-005 to 2010-11, he said.
“This is the highest among the growth rates of different Indian states,” he said.
He added since the finalisation of this survey, the Directorate of Statistics and Evaluation, Bihar, communicated a fresh set of estimates of GSDP and NSDP in Bihar, according to which the GSDP at current prices in 2009-10 stood at Rs 1,68,603 crore, with per capita income of Rs 17,590, still one-third of the national average.
Modi, however, said the agriculture sector’s contribution to GSDP decreased to 19 per cent, secondary 17 per cent, construction 11 per cent, transport/storage 6 per cent, trade/hotel 30 per cent and other services contribution was 11 per cent.
“This show substantial diversification towards secondary and tertiary sectors and good for Bihar economy,” he claimed.
In 2004-05, the agriculture sector had contributed 26 per cent, secondary 13 per cent, construction 6 per cent, transport and storage/communication contributed 6 per cent, trade and hotel contributed 22 per cent and other services contributed 13 per cent to the GSDP at constant prices, Modi said.
This was made possible because of the state government taking positive steps for increasing the common man’s faith in police and the speedy trial mechanism has been effectively used to expedite convictions, as it rose from 6,839 in 2006 to the total of 54,883 up to November, 2010.