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Clocking the slowest compounded annual growth rate (CAGR) of about 6.9% in terms of gross state domestic product, Uttar Pradesh is the lowest among the traditional BIMARU states (Bihar, Madhya Pradesh, Rajasthan and UP) in this regard during the past nine years i.e. During 2004-05 and 2012-13, according to an ASSOCHAM study.
"Bihar has ranked on top among the BIMARU states registering highest growth rate of 9.3% in GSDP during the aforesaid nine year period followed by Madhya Pradesh (8.8%) and Rajasthan (8.2%) even as India's overall gross domestic product (GDP) grew at 8% during 2004-05 and 2012-13," said a study titled 'Analysis of BIMARU states,' conducted by ASSOCHAM.
"Though UP's share in terms of contribution to Indian economy has remained highest during the aforesaid period, its share has dipped from 8.8% as of 2004-05 to 8.1% as of 2012-13/
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"The share of other states in BIMARU category though has remained stagnant over these years but has slightly improved - Bihar (from 2.6% to 2.9%), MP (3.8% to 4%) and Rajasthan (4.3% to 4.4%)," the study prepared by ASSOCHAM Economic Research Bureau (AERB) said.
"Total share of BIMARU states to India's economy has also slightly dipped from 19.5% as of 2004-05 to 19.4% as of 2012-13," D S Rawat, national secretary general of ASSOCHAM said while releasing the chamber's study.
Even on the agriculture and allied sector front, UP has proved to be the slowest in CAGR at 2.9% , well below the national growth rate of 3.7%, it said.
Madhya Pradesh clocked highest growth rate of 7% in terms of agriculture and allied sector performance amid BIMARU states followed by Rajasthan (4.8%) and Bihar (4.7%).
