Chhattisgarh: Main feature of its economy

by

&<–2/”>a >nbsp;

Chhattisgarh is well endowed with various natural Resources. These resources are important role in the economy of the state.

The gross state domestic product (GSDP) of Chhattisgarh is expected to reach US$ 47.75 billion in FY 2018 from US$ 36.6 billion in FY 2015. The GSDP of the state grew at a compound annual Growth rate of 11.83 per cent between 2004-05 and 2015-16.

From the below graph we can see the economic snapshot of Chhattisgarh in terms of state domestic product.

 

Chhattisgarh is a power surplus state. It is among the few profitable states in terms of utility-based electricity. Korba district in Chhattisgarh is known as the power capital of India. Chhattisgarh has planned to achieve installed power generation capacity of 30,000 MW.

Mineral resources are Chhattisgarh’s biggest strength. Chhattisgarh is a leading producer of Minerals such as coal, iron Ore and dolomite, accounting for about 22.6 per cent, 19.8 per cent and 36.5 per cent of India’s production, respectively. Besides, considerable reserves of bauxite, limestone and quartzite are available in the state. Chhattisgarh is the only state in India that produced tin concentrates. The state accounts for 35.4 per cent of tin ore reserves of India.

Chhattisgarh has emerged as one of the most preferred Investment destinations in India. The state has been acclaimed as “one of the best fiscally managed states” by the Reserve Bank of India (RBI). The state attracted cumulative FDI worth US$ 1.29 billion from April 2000-March 2016.

A wide range of fiscal and policy incentives for businesses have been announced under its Industrial Policy, 2014-19. Additionally, the state has well-drafted policies for the IT/ITeS, Solar Energy, agro and Food Processing, minerals andIndustry/Biotechnology-india.aspx”> biotechnology sectors. Chhattisgarh stands fourth among Indian states in rankings based on Ease of Doing Business and reforms implementation, according to a study by the World Bank and KPMG.

Chhattisgarh is the only state in India to produce tin concentrates and accounts for 36 per cent of the country’s tin ore reserves. Dante Wada is the sole district producing tin from 6 mines. The state accounts for 4 per cent and 36.5 per cent of the country’s diamond and dolomite reserves, respectively. It ranks among the top coal, tin and dolomite production states in the country.

Iron and Steel: Chhattisgarh is the iron & steel hub of the country. The Bhilai steel plant of Steel Authority of India Ltd (SAIL) produces more than 3.153 million tons of saleable steel per annum.

Chhattisgarh has abundant limestone reserves that support a strong cement sector. Chhattisgarh accounts for around 5.4 per cent of the total limestone reserves in India.

 

 

­­­­,

Chhattisgarh is a state in central India. It is the 10th largest state in India by area and the 17th most populous state. The capital of Chhattisgarh is Raipur.

The economy of Chhattisgarh is based on agriculture, mining, manufacturing, and Services. Agriculture is the backbone of the state’s economy, accounting for about 25% of the state’s GDP. The main crops grown in Chhattisgarh are rice, wheat, pulses, oilseeds, and sugarcane.

Mining is another important sector of the Chhattisgarh economy. The state is a major producer of coal, iron ore, bauxite, and limestone. Mining accounts for about 10% of the state’s GDP.

Manufacturing is a small but growing sector of the Chhattisgarh economy. The main manufacturing industries in the state are cement, steel, and textiles. Manufacturing accounts for about 15% of the state’s GDP.

The services sector is the fastest growing sector of the Chhattisgarh economy, accounting for about 50% of the state’s GDP. The main services sectors in Chhattisgarh are transportation, Communication, trade, and tourism.

Chhattisgarh is a developing state with a low per capita income. The state has a high POVERTY rate and a low Literacy rate. However, Chhattisgarh has made significant progress in recent years in reducing poverty and improving Education. The state has also attracted significant investment in the mining and manufacturing sectors. Chhattisgarh is expected to continue to grow in the coming years, driven by its Natural Resources, its young Population, and its investment-friendly policies.

The following are some of the key challenges facing the Chhattisgarh economy:

  • Poverty: Chhattisgarh has a high poverty rate, with about 30% of the population living below the Poverty Line.
  • Low literacy rate: Chhattisgarh has a low literacy rate, with about 60% of the population over the age of 15 being literate.
  • Poor Infrastructure-2/”>INFRASTRUCTURE: Chhattisgarh has poor infrastructure, with inadequate roads, electricity, and telecommunications.
  • Corruption: Chhattisgarh is a relatively corrupt state, with a high level of bribery and extortion.

Despite these challenges, Chhattisgarh has a number of strengths that could help it to overcome these challenges and achieve sustainable economic growth. These strengths include:

  • A young population: Chhattisgarh has a young population, with about 60% of the population under the age of 30. This young population could be a source of innovation and Entrepreneurship.
  • Natural resources: Chhattisgarh is rich in natural resources, including coal, iron ore, bauxite, and limestone. These natural resources could be used to drive economic growth.
  • Investment-friendly policies: The Chhattisgarh government has adopted a number of investment-friendly policies, such as providing tax breaks and subsidies to businesses. These policies could attract investment and help to create jobs.

Chhattisgarh is a state with a number of challenges, but it also has a number of strengths. With the right policies and investments, Chhattisgarh could achieve sustainable economic growth and improve the lives of its people.

Here are some frequently asked questions about the economy of Chhattisgarh:

  1. What is the main feature of the economy of Chhattisgarh?
    The main feature of the economy of Chhattisgarh is its reliance on agriculture. Agriculture accounts for about 30% of the state’s GDP, and employs about 60% of the workforce. The main crops grown in Chhattisgarh are rice, wheat, pulses, and oilseeds.

  2. What are the major industries in Chhattisgarh?
    The major industries in Chhattisgarh are mining, power generation, and manufacturing. Mining is the largest industry in the state, accounting for about 15% of the GDP. The main minerals mined in Chhattisgarh are coal, iron ore, and bauxite. Power generation is another important industry in the state, accounting for about 10% of the GDP. The state has a number of hydroelectric power Plants, as well as thermal power plants. Manufacturing is a growing industry in Chhattisgarh, accounting for about 10% of the GDP. The main manufactured goods produced in the state are steel, cement, and textiles.

  3. What are the major challenges facing the economy of Chhattisgarh?
    The major challenges facing the economy of Chhattisgarh are poverty, Unemployment, and Infrastructure Development. Poverty is a major problem in the state, with about 30% of the population living below the poverty line. Unemployment is also a major problem, with about 10% of the workforce unemployed. Infrastructure development is another major challenge, with the state having a poor transportation system and inadequate power supply.

  4. What are the government’s plans to address the challenges facing the economy of Chhattisgarh?
    The government of Chhattisgarh has a number of plans to address the challenges facing the economy of the state. These plans include:

  5. Increasing investment in agriculture, to improve productivity and increase incomes for farmers.

  6. Promoting industrialization, to create jobs and boost economic growth.
  7. Developing infrastructure, to improve transportation and power supply.

  8. Reducing poverty, by providing social assistance and creating jobs.

  9. What are the prospects for the economy of Chhattisgarh in the future?
    The prospects for the economy of Chhattisgarh are positive. The state has a number of strengths, including a young population, abundant natural resources, and a growing manufacturing sector. The government is also taking steps to address the challenges facing the economy, such as Poverty and Unemployment. As a result, the economy of Chhattisgarh is expected to grow at a healthy rate in the future.

  1. Which of the following is not a major mineral found in Chhattisgarh?
    (A) Coal
    (B) Iron ore
    (C) Copper
    (D) Gold

  2. The main source of Irrigation in Chhattisgarh is:
    (A) Canals
    (B) Wells
    (C) Tanks
    (D) Tube wells

  3. The main crops grown in Chhattisgarh are:
    (A) Rice
    (B) Wheat
    (C) Sugarcane
    (D) Cotton

  4. The main industries in Chhattisgarh are:
    (A) Coal mining
    (B) Iron and steel
    (C) Power generation
    (D) All of the above

  5. The main exports of Chhattisgarh are:
    (A) Coal
    (B) Iron ore
    (C) Power
    (D) All of the above

  6. The main imports of Chhattisgarh are:
    (A) Petroleum products
    (B) Machinery
    (C) Fertilizers
    (D) All of the above

  7. The main languages spoken in Chhattisgarh are:
    (A) Hindi
    (B) Chhattisgarhi
    (C) Gondi
    (D) All of the above

  8. The main religions practiced in Chhattisgarh are:
    (A) Hinduism-2/”>Hinduism
    (B) Islam
    (C) Christianity
    (D) All of the above

  9. The main festivals celebrated in Chhattisgarh are:
    (A) Holi
    (B) Diwali
    (C) Dussehra
    (D) All of the above

  10. The main tourist attractions in Chhattisgarh are:
    (A) The Kanger Valley National Park
    (B) The Indravati National Park
    (C) The Bastar Wildlife Sanctuary
    (D) All of the above