Bihar Economic Survey: 2022-23
The report was tabled in the legislative assembly by state’s finance minister Vijay Kumar Choudhary. This was the 17th report of the Bihar Economic Survey, a practice started by the Nitish Kumar government in 2006-07.
Bihar economy’s overview tabulated below:
| Factors | Data from Bihar Economic Survey 2022-23 (Bihar Economy in 2021-22) |
| GSDP of Bihar grew by | 10.98% |
| GSDP at current prices | Rs. 675448 crore |
| GSDP at constant prices | Rs. 428065 crore |
| NSDP at current prices | Rs. 614431 crore |
| NSDP at constant prices | Rs. 382274 crore |
| Per Capita GSDP at Current Prices | Rs. 54,383 |
| Per Capita GSDP at Constant Prices | RS. 34,465 |
| Share of primary sector in GSDP | 21.2 percent |
| Share of secondary sector in GSDP | 18.1 percent |
| Share of tertiary sector in GSDP | 60.7 percent |
| The growth rate of the primary sector at Constant Prices | 9.6% |
| The growth rate of the secondary sector at Constant Prices | 3.8% |
| The growth rate of the tertiary sector at Constant Prices | 13.3% |
| Three most prosperous districts | Patna > Begusarai > Munger |
| Three least developed districts | Sheohar < Araria < Sitamarhi |
Other important facts from Bihar Economic Survey: 2022-23
The total expenditure of the state government was ₹1.93 lakh crore in 2021-22, of which ₹1.59 lakh crore (82.4%) was revenue expenditure. The capital expenditure increased by 29.4% over the previous year to reach ₹33,903 crore.
The survey says that in 2021-22, the state government collected ₹38,839 crore in revenue from its own sources, while the gross transfer of financial resources from the Central government was ₹1,29,486 crore, including ₹91,353 crore as state’s share in the central taxes. The grants-in-aid from the Centre and the Centre’s loan to the state was ₹28,606 crore and ₹9,527 crore, respectively.
Total borrowing of State government was RS. 40,445 crore in 2021-22. The outstanding debt of the State government at the end of 2021-22 was RS. 2,57,510 crore.
According to the survey, the primary deficit of the state government declined from 17,344 cr in 2020-21 to ₹11,729 crore in 2021-22. Similarly, the fiscal deficit declined from ₹29,828 crore to ₹25,551 crore in 2021-22 despite the challenges of pandemic.
The higher growth is a matter of pride for the state and reflects better fiscal management. Despite its limited resources and 73% of the land being flood prone, Bihar is ranked third, only marginally behind Rajasthan and Andhra Pradesh, in terms of growth.
Between 2018-19 and 2019-20, the number of factories in Bihar has increased by only 0.3%, but the working capital has increased by 51%.
The survey reports that the State continues to see flight of capital via the scheduled commercial banks, which has much lower CD ratio than the national average. It means that banks continue to accumulate deposits from the state but are reluctant to extend credit. Among the banks the SBI has very poor CD ratio of 36.1% which is much lower than the national average CD ratio of 71.2%.
Bihar had a total road density of 3166.9 km per 1,000 sq. km of geographical area and ranked third after Kerala and West Bengal in the country.
The projected peak demand of power in 2022 was 6475 MW.
111 new Nagar Panchayats have been set up, along with 9 new Nagar Parishads. Because of this, the projected urban population of Bihar in 2022 is 20.2 million (11.8 million in census 2011). This will raise the urbanisation rate in Bihar from 11.3% to 16.2%.
A unique scheme called the ‘Bihar Ganga Water Supply Scheme’ was recently launched, through which the Rajgir city, Nawada city, Gaya and Bodh Gaya cities will be benifitted.
Also refer:
- Budget | Important Concepts
- बिहार बजट
- बिहार के राष्ट्रीय उद्यान और वन्यजीव अभयारण्य
- बिहार स्पेशल सामान्य ज्ञान
- Download BPSC 66th prelims question paper : हिंदी में, English.
