Jharkhand, Mar 2 (PTI) The Jharkhand government on Wednesday presented its Economic Survey Report in the Assembly that estimates 8.8 per cent growth in its real Gross State Domestic Product (GDP) in the current fiscal.
The Economic Survey that details the state of the economy ahead of the government’s budget for the fiscal year beginning April 1, 2022 mentions that the state has shown adequate resilience to recover promptly from every shock including economic recovery from the effects of COVID-19 pandemic.
The survey report tabled by Finance Minister Rameshwar Oraon said: “It is estimated to record 8.8 per cent growth in its real Gross State Domestic Product (GDP) the current financial year (2021-22). The GSDP of the state grew at an average annual rate of 8 per cent per annum in the first five years of its formation (between 1999-2000 and 2004-05), then at the rate of 6.6 per cent between 2004-05 and 2011-12 and at 6.2 per cent between 2011-12 and 2018-19.”
The growth rate has decelerated during the last two years in the financial years 2019-20 and 2020-21, the survey report said.
These two years were not normal years, it said adding the Indian economy was hit by an economic slowdown in the year 2019-20 which did not leave even the economy of Jharkhand untouched.
Both, the Indian economy and the economy of Jharkhand recorded a growth of a mere 4 per cent, the survey report said.
