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| Chhattisgarh's growth highest last fiscal, surpasses Bihar |
| Press Trust of India / New Delhi Aug 29, 2010, 11:31 IST |
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Just 10 years in existence as a state, Chhattisgarh has left behind Bihar to emerge as the state with the highest economic growth in the last fiscal.
The state, carved out from Madhya Pradesh in November 2000 and long known as a hot-bed of left wing extremism, clocked a GDP growth rate of 11.49 per cent in constant prices at Rs 60,080 crore in 2009-10.
In contrast, previous fiscal's topper Bihar could only manage the 14th position among all the states with a GDP growth rate of 4.72 per cent. Its GDP during the fiscal was Rs 1,09,420 crore.
In 2008-09, Bihar had emerged as the number one state in India with a GDP growth at constant prices of 16.59 per cent.
Gross domestic product (GDP) at constant prices refers to the volume level of GDP.
Chhattisgarh's impressive performance in FY10 follows high growth rate during last few years. The central Indian state had clocked a GDP growth of 17.51 per cent in 2006-07 and 11.71 per cent in 2007-08, before dipping to 6.81 per cent in 2008-09.
During 2009-10, Gujarat emerged as the runner-up with a GDP growth rate of 10.53 per cent. The state's GDP at constant prices over the last decade went to Rs 2,52,528 crore.
The third place bagged by Uttarakhand, another state which was carved out of Uttar Pradesh in November 2000. The hill state's GDP grew by 9.41 per cent to Rs 29,507 crore in 2009-10.
Maharashtra, long known as the country's industrial and commercial powerhouse, secured the fourth rank. Its GDP went up by 8.59 per cent to Rs 4,80,335 crore during the fiscal.
Orissa, considered as one of the laggards in the country's development agenda, also made it to the top five with a GDP growth rate of 8.35 per cent in the last fiscal. Its GDP at constant prices stood at Rs 90,229 crore in 2009-10.
Bihar, part of the BIMARU nomenclature for long before it made an impressive breakthrough since 2006-07 and even emerged at the top spot in 2008-09 with a GDP growth of 16.59 per cent, could manage only the 14th rank last fiscal. Its GDP went up by merely 4.72 per cent to Rs 1,09,420 crore during the fiscal under review.
Bihar had confounded critics and economists alike since the past four years. From a decline of 5.15 per cent in 2003-04, its GDP had bounced back to a growth of 22.53 per cent in 2006-07, 8.77 per cent in 2007-08 and 16.59 in 2009-10.
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