While Bihar’s economic growth rate for 2010-11 was on Wednesday projected to be at an impressive high of 10.05 per cent quite like the previous fiscal, the agriculture sector’s contribution to the state’s galloping GDP fell behind, sowing the seeds for fresh concerns and debates.
Agriculture still remains the most important driving force in Bihar, but the agriculture sector’s contribution to the gross state domestic product (GSDP) was estimated to have fallen to 19 per cent from the 26 per cent in 2005-05, according to the economic survey 2010-11 presented in the state Assembly on Wednesday by deputy chief minister Sushilkumar Modi, who is also the state’s finance minister.
The annual survey, the fifth successive document of economic growth to be presented by Modi since 2006-07, painted a picture of a confidently growing Bihar as a result of the socio-economic changes being driven by the Nitish Kumar-led NDA government over the past five years. Mr Modi said the projected growth rate of 10.05 per cent, a shade less than the previous year’s 11.70 per cent, was still higher than the national average.
Bihar’s Gross State Domestic Product (GSDP) in 2009-10 stood at `1,72,138 crores, with a per capita income of `17,959, as compared to the GSDP of `75,608 crores in 2004-05 when per capita income in the state was `8,528, said Mr Modi. He said Bihar’s annual economic growth rate between 2004-05 and 2010-11 was 10.93 per cent as compared to 3.5 per cent between 1999-2000 and 2004-05.