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Jharkhand: State’s GSDP projected to grow at 6.15% in next fiscal

Ranchi: Jharkhand’s Gross State Domestic Product (GSDP) will grow at a rate of 6.15% in 2022-23 fiscal while the estimated growth in the current fiscal is projected at 8.8 percent, stated the Jharkhand Economic Survey 2021 report tabled in the assembly on Wednesday by finance minister Rameshwar Oraon.

He said that despite covid-19 pandemic, the economy showed resilience due to good monsoon in last two years and better agriculture activities citing how state ensured that the agriculture activities don’t get hamper due to the pandemic. 

“Our gross domestic product (GSDP) in this fiscal year is expected to remain 8.8 percent. In 2022-23, GSDP is estimated at 6.15 percent at constant prices,” he said.

The per capita income is also estimated to hike by 7.1 percent i.e. Rs 57,180 in the current fiscal, said the report. Next fiscal, it will grow at Rs 85,485 while the national average currently stands at Rs 1.49 lakh.

Despite 13.9 percent GSDP in 2019-20 fiscal, it dipped by 4.3 percent in 2020-21 due the economic slowdown in the country.  The inflation this year is lower vis-à-vis national average. Country’s inflation rate was 4.91 percent till November 2021. “During the same corresponding period, Jharkhand’s inflation rate was 2.6 percent,” it said.

Oraon will table 2022-23 year’s budget in the assembly on March 3 i.e. tomorrow.