Bihar’s economy has seen a staggering high growth rate of 10.53 per cent according to the state’s Economic Survey for 2019-20, as compared to the national average of 6.8 per cent.
While presenting the 14th Economic survey Deputy Chief Minister and State Finance Minister, Sushil Kumar Modi said in the assembly, “Bihar recorded an average growth rate of above 10 per cent in the past three consecutive years, it has registered higher growth than the growth rate of India “. The major drivers of Bihar’s economy which have pushed the
state to register a double-digit growth include air transport which is about 36
per cent, trader and repair services make 17.6 per cent while other services make 20 per cent and road transport accounts for 14 per cent.
The report states that the major employment generating industries for working males in the state during 2017-18 were agriculture, forestry and fishing (44.6%), construction (17.1%), wholesale and retail trade, repair of vehicles (12.3%) and manufacturing (9.3 %). Whereas for female workers industries like agriculture, forestry, fishing and education have been generating most employment. Egg production has increased in the state from 111.17 crores in 2016-17 to 176.34 crore in 2018-19 and the total fish production went up from 4.79 lakh tones in 2013-14 to 6.02 lakh tones in 2018-19. Sushil Kumar also pointed out that the annual growth rate of operational agro-based factories in Bihar was 16.4 % in the past 10 years, compared to only 3.3 % at the all India level. He further added, “The per capita consumption of electricity in the state has risen from 145 kWh in 2012-13 to 311 kwh in 2018-19, implying growth of 114 % in six years and the availability of power has increased from an average of 6-8 hours to 20-22 hours in rural areas and from 10-12 hours to 22-24 hours in urban areas”
The Economic Survey lays stress on the state government’s flagship programme of Jal-Jivan-Hariyali which aims to tackle issues related to climate change and environmental degradation. Kumar also announced that since 2019 the state government has improved its budgetary allocation and operational efficiency through CFMS Comprehensive Financial Management System.