Growth has surpassed 8 per cent mark for three successive years in Jharkhand, says the state's Economic Survey.
The 2015-16 survey said for the fourth successive year the state's real income in terms of the Gross State Domestic Product (GSDP) and Net State Domestic Product (NSDP), at constant prices, has recorded an impressive growth.
The GSDP, at factor cost, at constant (2004-05) prices of the state was projected to increase by 8.83 per cent and the NSDP, at factor cost, at constant (2004-05) prices by 8.9 per cent in 2015-16 fiscal.
But, the variability in year-on-year growth has contracted in the past few years since 2013-14, it said.
The GSDP of Jharkhand at factor cost at constant prices, which was Rs 59,758 crore in the year 2004/05, was estimated to become Rs 129,225 crore this fiscal (2015-16).
The NSDP at factor cost at constant prices, which was Rs 53,056 crore in 2004-05, was estimated to be Rs 111,295 crore this year, said the survey, a day before the main budget was to be tabled in the Jharkhand Assembly.
"Thus, the income of the state, as measured by these two terms, has more than doubled in these eleven years. The GSDP and NSDP at current prices are projected to be Rs 226,405 crore and Rs 197,085 crore respectively - an increase of more than 370 per cent in 11 years period between 2004/05 and 2015/16," the survey said.
"This reposes our faith in the monetary, fiscal and development policies of the government," observed the survey.
The survey further said the per capita income of the state at constant prices (NSDP at factor cost) was Rs 18,510 in 2004/05 and was projected to be Rs 33,260 in 2015/16. It has grown by 5.47 per cent per annum (CAGR) in the last 11 years.
The per capita income at current prices in Jharkhand has increased by 14.65 per cent and by 6.93 per cent at constant prices, as against increase of 10.44 per cent and 2.84 per cent respectively, for the country, the survey said.
