Economy of Bihar

rdf:langString Economy of Bihar

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rdf:langString City

rdf:langString trend

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rdf:langString Average Per Capita Income in various Indian Cities

rdf:langString Bihar

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rdf:langString Agriculture 56%

rdf:langString Industry 8%

rdf:langString Services 36%

rdf:langString Average per capita income, 2007

rdf:langString Per capita income

rdf:langString The economy of Bihar is one of the fastest-growing in India. It is largely service-based, with a significant share of agricultural and industrial sectors. The GDP of the state was ₹7,45,310 crores (US$94 billion) at the current market price (2022–23). The state also has a small industrial sector. As of 2021 agriculture accounts for 24%, industry 15% and service 61% of the economy of the state For the period 2002–2007, average growth rate of Manufacturing in the state was 0.38%, against the national average of 7.8%. Bihar has the lowest GDP per capita in India, but there are pockets of higher per capita income like the southern half of the state and its capital city, Patna, had per capita income greater than that of Bangalore or Hyderabad in 2008. The GSDP stands at 7.57026 lakh Crores Rupees ($104 billion nominal GDP) as per 2013–2014. In actual terms, as of 2012–2013, Bihar state GDP is ranked 8 out of 29 states. Corruption is an important hurdle for the government to overcome according to Transparency International India, which the government has also acknowledged. Since November 2005, a new government led by Nitish Kumar has implemented a number of economic and social reforms. A consequence has been a positive improvement in the economy of the state and also of Patna. For example, in June 2009, the World Bank reported that Patna was the second best city in India to start a business, after Delhi. Between 1999 and 2008, state GDP grew by 5.1% a year, which was below the Indian average of 7.3%. However, in January 2010, the Indian government's Central Statistics Organisation reported that in the five-year period between 2004–2005 and 2008–09, Bihar's GDP grew by 11.03%, which made Bihar the second fastest growing economy in India during that 5-year period, just behind Gujarat's growth of 11.05%. Another survey conducted by Central Statistical Organisation (CSO) and National Sample Survey Organisation, under MOSPI, said that Bihar saw 14.80 percent growth in factory output in 2007–08, which was slightly less than the Indian rate of 15.24 percent.

rdf:langString (2.97% of GSDP )

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rdf:langString Agriculture 20%

rdf:langString Industry 20%

rdf:langString Services 60%