Bihar`s GSDP at 7.6 per cent higher than the national economy`s growth rate

23 February, Patna

Despite maintaining its growth momentum with Gross State Domestic Product (GSDP) likely to peg at 7.6 per cent, higher than the country`s growth rate, the per capita income in Bihar was only about 35 per cent of the national average growing only by a mere two per cent in a decade.

It was revealed in the Economic Survey 2016-17, tabled inthe state Assembly by state Finance Minister Abdul Bari Sidiqquitoday. The impact of prohibition on the state economy would only be knownwhen Sidiqqui would present his budgetin the state assembly on February 27 and how successful the stategovernment was in offsetting losses of nearly Rs 5,000 crore due to ban onsale and consumption of liquor in the state.

The state government imposed prohibition on April 5 last, only a few days after the beginning of the new financial year. Mr Sidiqqui told media here that the Central StatisticsOrgansiation (CSO) had released a new series of GSDP with 2011-12 as the base year for estimation of both national and state incomes.

He said the new GSDP estimates also utilise some fresh data sourcesand according to these new estimates, the medium term growth rate forGSDP in the state was 7.6 per cent, compared to 6.8 per cent for thenational economy.