Bihar is the fastest growing state of the country, records highest GDP growth rate

Bihar emerged as the Indian state with highest development rate in the financial year 2017-18. In the aforementioned fiscal year Bihar’s GDP or Gross Domestic product grew by the rate of 11.30%. Among the 17 states which were included in the list, Bihar was the topper. Bihar’s GDP growth rate is almost double than the national GDP growth rate of 6.7%.

The data is according to a report by Mumbai based rating agency Crisil. The agency, for its ranking took those 17 states into consideration which are classified as ‘non-special category’ by the Reserve Bank of India. Apart from that, Goa was excluded from the ranking as it is a small state. The ranking was based on Central Statistics Office data. While Bihar was ranked number one, Andhra Pradesh and Gujarat followed Bihar on second and third position respectively.

While the national trend showed a slowdown in GDP in growth in last fiscal year, 12 out of the 17 included states, including Bihar, defied the national trend and recorded faster growth in fiscal 2018 compared with last five years.

Among 18 states, only three (Uttar Pradesh, Chhattisgarh, and Jharkhand) recorded GDP growth below the national average and a slowdown from the previous year. Bihar and Andhra Pradesh leapt at double digits, emerging as the fastest growing states.

~ The report by Crisil said.

 

GDP or Gross Domestic Product is an aggregate sum of the gross value added by all the residents and institutions of a state of country over a budget year. In recent years Bihar has been among the top performers when it comes to growth in GDP. When it comes to per capita GDP, then there’s a lot more to be done.

Quote of the day:"Little by little, one travels far."
-Robert Frost

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