LAGATAR24 NETWORK
Ranchi, March 2: State Finance Minister Rameshwar Oraon today presented Jharkhand Economic Survey 2021-22 in the State Assembly.
The survey observed a decrease of 13.9% in GSDP in the financial year 2019-20 and 4.3% in 2020 and the reason behind the decrease in 2019-20 is due to the economic slowdown while the reason behind the decrease in 2021-22 is the corona pandemic and reduction in the share of the state in central taxes.
The survey said that the state’s share in central taxes has been reduced by about Rs 3314 crore in the financial year 2019-20 and Rs 880.8 crore in the financial year 2020-21 as compared to the previous years. If it had grown at the same annual rate of 14.4% in these 2 years, the state would have got Rs 27349 crores and 31287 crores in these 2 years respectively.
The survey said that in the current financial year 2021-22, the real GSDP is expected to register a growth of 8.8%. The state’s GSDP grew at an average annual rate of 8% in the first 5 years of its formation (between 1999- 2000 and 2004-2005). Then between 2004- 2005 and 2011 it grew at the rate of 6.6%. The rate was 6.2% between 2011-12 and 2018-19. At 2011-12 prices, the state’s GSDP was Rs 229274 crore in the year 2018-19.
Similarly, among the three major sectors (primary, secondary and tertiary) of the state’s economy, the tertiary sector has grown at the fastest rate in the period between 2011-12 and 2019-20. While the primary sector has grown at an average annual rate of 1.9% and the secondary sector has grown at the rate of 6.3%. During this period, the third sector has seen a growth rate of 7.7%.
The survey report also mentions the National Multidimensional Poverty Index Baseline Report released by NITI Aayog, according to which 46.0% people are poor in the state, the percentage of multidimensional poor in rural areas is 50.3% and in urban areas, it is 15.26%. There is a wide disparity in the incidence of poverty not only between rural and urban areas but also in different districts.
A growth of 36 percent has been observed in the field of education in the last 20 years. At the time of the formation of the state, only about 53% of the population was literate. This figure has reached 73% in 2019-20. Thus the literacy rate of Jharkhand has increased by about 36% in the last 20 years.
