Ranchi: Jharkhand Economic Survey-2017 was tabled in the ongoing winter session of Jharkhand Assembly here on Saturday. This was informed by the Development Commissioner-cum-Additional Chief Secretary of Jharkhand Amit Khare.
“Remarkable growth has been recorded in all the fields and sub-fields of economy of the state. The development ratio of the state on static rate was 8.5% in 2011-12 which rose to 12.5 at present. The growth rate has been in 2 digits in the last three years. Growth of GDPS on static rate in 2014-15 was 12.5% per year and 12.1% in 2015-16. 12% growth is expected this year also,” Khare said.
Khare said that Jharkhand has shown better ratio than all India ratio and better than many other states and union territories. Only Gujrat, Mizoram and Tripura have better growth rate than Jharkhand during 2011-12 to 2014-15. The annual NSDP increment of Jharkhand and Gujrat has been 8.8% and only Gujrat, Mizoram and Tripura grew with more than 9%. Tripura and Mizoram are special category states of North-East India getting more subsidy than other states, he said.
“The state per capita income in 2015-16 on present rate is Rs. 62,816 against the National per capita income of Rs. 93,231. If GDP is considered, Jharkhand has recorded 12.1% growth against 7.6% of the nation last year. From 2011 to 2015-16, remarkable growth has been recorded in almost every area of economy-5.23% in agriculture, 7.2% in industry and 10.63% in service sector. The growth rate shows all round development in the state,” Khare said.
As per the Survey, the financial condition of the state has improved in the last three years. In financial year 2011-12 and 2013-14, 8.1% annual increment was recorded but it increased to 25.9% during 2014-15 and 2016-17. Revenue collection has also improved during the last three years, Khare said citing the Survey findings.
“In the planned expenditure, 67% annual increment has been recorded during the last two years. The share of planned expenditure has increased during the last three years. The major part of the planned expenditure consists of capital expenditure which is important from the state development point of view,” said Khare.
The senior bureaucrat further said that the revenue deficit is expected to be 2.16% of GSDP in the current financial year which is within FRBM limitation. In the year 2015-16, total loan of the state was 24.97% of GSDP which is under the constant loan limitation. The per capita loan is Rs. 15,897 which is less than ¼th of per capita income, he said, adding that the economic survey is based on reliable sources of the nation.