Bihar recorded the third highest Growth rate of 10.98% at constant price (2011-12) in its gross state domestic product (GSDP) during the 2021-22 FY among all the states in the country. It has marked the return of the state’s economy to the ‘pre-Covid-19 years’, implying that the disruptions caused to the economy by the coronavirus pandemic in 2019-20 and 2020-21 have been nearly overcome.
This has been brought out by the 2022-23 Economic Survey Report (ESR) on the state’s economy tabled by state finance ministerVijay Kumar Choudharyin the assembly.
While the state’s GSDP at constant price was Rs 4.28 lakh crore and Rs6.75 lakh at current price in 2021-22, the resulting per capita income was Rs34,465 at constant price and Rs 54,383 at current price.
The ESR 2022-23 has also noted that the high growth rate that Bihar recorded — scoring even better than the national Average of 8.68% during the same fiscal year – was made possible by the fact that the state did not suffer natural disaster (floods and drought) in 2021-22.
The significance of the states performance on the recovery process from the coronavirus pandemic years could be gauged from the fact that the growth rate was 4.4% during 2019-20 and negative (-) 3.2 per cent during 2020-21 with minus growth rates recorded in 14 sectors.
While nine sectors recorded growth rate in two digits, one in three digits and five others on the higher side of the single digit, the growth rate in the (Agriculture-notes-for-state-psc-exams”>Agriculture and allied activities) was 9.6%, in the secondary (manufacturing) sector 3.8% and in the tertiary (Services) sector 13.3%, the report said. The share of the primary sector in the state’s economy was 21.2%, followed by 18.1% of the secondary and 60.7% of the tertiary sectors.