Ranchi: The economy of Jharkhand during the financial year 2021-22 is expected to grow at 9.5 percent.
As per the Economic Survey 2021-22 which was tabled on Tuesday by Finance Minister Rameshwar Oraon during the ongoing Budget Session the per capita income in the state has been pegged at Rs 57,863.
The survey said that like the rest of the country covid-19 has also hit the economy of Jharkhand very badly. The real GSDP of the state is expected to contract by 6.9 percent and the nominal GSDP is expected to contract by 3.2 percent in the current fiscal.
They thus are estimated to be Rs 2,23,566 crore at constant prices and Rs 2,44,805 crores at current prices in the year 2020-21.They are expected to recover in the next financial year. The real GSDP of the state is expected to record a growth rate of 9.5 percent and the nominal GSDP of 13.6 percent in the financial year 2021-22 over the GSDP of 2020-21. However between the years 2019-20 and 20 21-22 the annual growth rates would be only 1 percent and 4.9 percent for nominal and real GSDP respectively.
The GSDP of Jharkhand at Constant (2011-12) prices was at Rs 1,50,918 crores. It grew at an average annual rate CAGR of 7.3 percent per annum between 2011-12 and 2014-15 and 4.8 percent between 2014-15 and 2018-19. It is estimated to have grown by 6.7 percent in the year 2019-20 and has become Rs 2,40,036.
The per capita income of Jharkhand was Rs 41,254 in the year 2011-12. It grew at an average annual rate of 11.6 percent at current prices and 5.7 percent at constant prices between 2011-12 and 2014-15 and at 3 percent at constant prices and 5.9 percent at current prices between 2014-15 and 2018-19. It is estimated to have been Rs 57,863 at constant prices and Rs 79,873 at current prices recording a growth of 5.2 percent and 9.2 percent respectively in the year 2019-20 as compared to the previous year.