Progressive Bihar - Finally the sleeping giant is waking up

Progressive Bihar - Finally the sleeping giant is waking up
Progressive Bihar - Come support it's growth path.

Sunday, November 15, 2009

Bihar's current GDP - Rs 1,05,148 crore and future

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has said that the the current government of Bihar has put the industrial revival of Bihar on fast track.

"Riding the crest of a 'good governance', Bihar is all set for an industrial revival during the next decade with the state's GDP moving towards achieving a healthy eight per cent growth."

This view was expressed by ASSOCHAM in its latest report entitled ''Bihar Vision-2020-A Growth Strategy'' which was released on 12th November 2009 in Patna.

ASSOCHAM has said that the prospect of the revival of industrialization in Bihar has brightened as the state's Gross Domestic Products(GDP) was expected to grow by eight per cent per annum during the next decade to reach a figure of Rs 2,64,781 crore from the present Rs 1,05,148 crore. The report attributed this prospect to good governance in Bihar in the last 4 years.

The report has pointed out that Services sector contributed to 55% towards the growth of GDP in Bihar, followed by agriculture at 35% and industries at 9%. The report expressed concerns that manufacturing sector was a challenge for Bihar as it contributed only 0.38% to the growth of GDP in Bihar (the lowest in the country).

However the emergence of food processing, agro products, pharmaceuticals, cement, iron and steel, tourism, health and infrastructure sectors reassures the investment potential of Bihar to everyone.

More details can be found in the article by Times of India and the article Industrial revival of Bihar put on fast track by NDA govt: ASSOCHAM by Webindia123

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