 "Industrial growth in FY14 was higher in poorer states")
Industrial growth in the traditionally weaker states of Bihar, Odisha and Chattisgarh in 2013-14 dwarfed that of their more developed counterparts, in a year when the econiomy had to cope with the euro crisis and its effects on Indian industry.
Data released as part of the Annual Survey of Industries (ASI) on Tuesday showed the three states had grown the most industrially. Overall industrial growth, measured in gross value addition, was 7.2 per cent in FY14 as compared to 11.3 per cent in FY13.
Bihar at 97.5 per cent had the highest growth but measured from the country's steepest decline the previous year. Odisha grew 61 per cent and Chhattisgarh by 55 per cent. In comparison, it was 5.9 per cent in Gujarat and in Karnataka and 1.1 per cent in Rajasthan, all three being outside the top 10 in industrial growth.
Overall, the measure showed a fall in eight states, Goa's being the steepest at 26 per cent. Andhra Pradesh and Madhya Pradesh's declined by 13.5 per cent and 12.1 per cent, respectively. Nagaland (-10.2 per cent), Haryana (-1.8 per cent), Delhi (-1 per cent), Tamil Nadu (-0.9 per cent) and Tripura (-0.4 per cent) also contracted. As for industrial investments, 17 states reported a decline.
As measured by gross capital formation, Assam's was the highest at 145 per cent, followed by Kerala at 117 per cent. Tripura was third at 48 per cent. Meghalaya had the sharpest drop at minus 66 per cent, followed by Sikkim (-58), Haryana (-46.8) and UP (-45.4). Karnataka, Punjab and Rajasthan also reported a dip.
