Bihar Economy: Bihar grew at 10.98% in FY22: Economic Survey

Patna: Bihar Finance Minister Vijay Kumar Choudhary on Monday said the state recorded a 10.98-per cent growth in 2021-22, asserting that it is among the “fastest-growing” economies in the country. Tabling the Bihar Economic Survey for 2022-23 in the assembly on the opening day of the budget session, Choudhary said the state government continued to focus on increased capital expenditure, which rose by 29.4 per cent over the previous year to Rs 33,903 crore in 2021-22.

“Bihar economy posted a strong recovery in 2021-22 as the Gross State Domestic Product (GSDP) at constant prices recorded a robust growth of 10.98 per cent, whereas, the national growth rate was 8.68 per cent during the same period,” the minister said.

“The economy of Bihar is one of the fastest-growing in India. Bihar’s 10.98-per cent growth is third among the top five fastest-growing states in the country after Andhra Pradesh (11.4 per cent) and Rajasthan (11.04 per cent),” Choudhary later said at a press conference.

He said that within the primary sector, the two most important contributors to growth of GSDP have been livestock and fishing & aquaculture, registering growth rates of 9.5 per cent and 6.7 per cent, respectively.

According to the economic survey, Bihar’s total expenditure was Rs 1.93 lakh crore in 2021-22. Out of this, Rs 1.59 lakh crore (82.4 per cent) was the revenue expenditure.