The 16th Bihar Financial Survey Report (ESR) – 2021-22 described the expansion efficiency in the state as “higher” than the general nationwide. She spoke of agriculture and its related sectors growing at a pace of 2.1 percent over the past five years (2016-17 to 2020-2021) within the state. Deputy Chief Minister, Tarkeshore Prasad, who additionally holds the financial portfolio, presented the 16th term ESR report on the floor of the legislative meeting on Friday, ahead of the price range. GSDP) in Bihar increased by 2.5 per cent in 2020-2021, due to the impact of the lockdown caused by COVID-19. However, this efficiency is better than that common nationwide, as the Indian financial system has certainly contracted by 7.2 percent in 2020-2021. If one compares the Bihar financial system with the Indian financial system during the average time period (2011-12 to 2020-21), it has been observed that they grew at roughly the same cost”, the report said. At current costs, per capita earnings in the state are Bihar 50,555 rupees in 2020-21, compared to 86,659 rupees for India, ESR said Over the past five years (2016-2017 to 2020-2021), the primary sector in Bihar grew by 2.3 per cent, and the secondary sector grew by 4.8 per cent. cent, and the third sector grew at the highest cost at 8.5 percent, declared.
The first sector includes all financial actions that use pure assets immediately – mining, forestry, fishing and many others.Includes Secondary sector Manufacturing and processing in order to add value to the pure assets i.e. turning cotton into a material The third sector helps in setting up the primary and secondary sectors i.e. transportation or various businesses In terms of state funds, ESR says the year 2020-2021 has been a difficult year, Due to the COVID-19 pandemic, state authorities have responded to the challenges with the best possible use Divorced for her financial assets. The state authorities’ total expenditure in 2020-21 increased by 13.4 per cent from the previous year to Rs 1,65,696 crore, of which Rs 2,6203 crore was capital expenditure and Rs 1,39,493 crore was income expenditure,” the report stated.
The report says that agriculture occupies a really central place in the Bihar financial system.The expansion of agriculture and allied sectors has been regular in Bihar.The total harvested area was 79.97 thousand hectares in 2019- 20, with a cultivation depth of 144 percent. Over the past five years, agriculture and allied sectors have grown at a pace of 2.1 percent. Among the many sub-sectors, livestock and fisheries have grown at a pace of 10 percent and 7 percent, respectively” , the report said, including business growth in Bihar has been promising over recent years. In the 2011 census, the extent of urbanization in Bihar was very low – only 11.3 percent. “However, after the state authorities decided to redefine the city centre, the current degree of urbanization in Bihar is 15.3 per cent, which shows significant growth. Per capita energy consumption within the state has additionally increased from 203 kWh in 2014 -15 to 350 kWh in 2020-21, which means a 72.4 percent advance in six years.”