Bihar grows faster than national economy

Indo Asian News Service

Patna, July 23 (IANS) Bihar's economy grew by almost 14.5 percent in 2012-13 when the national economy recorded around 5 percent growth rate, the ruling Janata Dal-United's leaders and state officials said here Tuesday.

"Bihar has proved that it is moving with high growth, a positive development," Planning and Development Principal Secretary Vijoy Prakash said in reference to Quick Estimates of Gross State Domestic Product (GSDP) regarding the last fiscal year.

State JD-U president Vashisht Narayan Singh said: "It is a clear message that Chief Minister Nitish Kumar is taking Bihar on the right track with development."

"We have to spread information on this achievement among people to counter the negative propaganda by the rivals," he said.

Party spokesperson Neeraj Kumar told IANS that Bihar's high growth rate is a success story.

"People of the state have a right to know about it and we will inform them as it helps them in one way or the other," he said.

Water Resource Development Minister Vijay Choudhary said: "If high growth is any indication, Bihar will be a developed state in the coming years."

Prakash said overwhelming growth in public expenditure, construction, communication, trade-hotels-transport, and banking and insurance sectors were the factors behind Bihar's growth.

The state, however, was still lagging behind the rest of the country in terms of per capita income, he said.

Prakash, while releasing the Quick Estimates of Gross State Domestic Product (GSDP) regarding the last fiscal year Monday, said: "Despite global slowdown and sagging domestic demand, the state has managed to record an annual growth rate of 14.48 percent in 2012-13."

"It is almost triple of the national growth rate, which is expected to be around 5 per cent. This is not only higher than previous year, but we also expect it to be one of the highest among other states," Prakash said.