Lucknow: Clocking the slowest compounded annual growth rate (CAGR) of about 6.9 percent in terms of gross state domestic product, Uttar Pradesh is the lowest among the traditional BIMARU states (Bihar, Madhya Pradesh, Rajasthan and UP) in this regard during the past nine years i.E. During 2004-05 and 2012-13, according to an ASSOCHAM study.
"Bihar has ranked on top among the BIMARU states registering highest growth rate of 9.3 percent in GSDP during the aforesaid nine year period followed by Madhya Pradesh (8.8 percent) and Rajasthan (8.2 percent) even as India's overall gross domestic product (GDP) grew at eight percent during 2004-05 and 2012-13, said a study titled Analysis of BIMARU states, conducted by ASSOCHAM.
"Though UP's share in terms of contribution to Indian economy has remained highest during the aforesaid period,its share has dipped from 8.8 percent as of 2004-05 to 8.1 percent as of 2012-13.
"The share of other states in BIMARU category though has remained stagnant over these years but has slightly improved Bihar (from 2.6 percent to 2.9 percent), MP (3.8 percent to 4 percent) and Rajasthan (4.3 percent to 4.4 percent)," the study prepared by ASSOCHAM Economic Research Bureau (AERB) said.
"Total share of BIMARU states to India's economy has also slightly dipped from 19.5 percent as of 2004-05 to 19.4 percent as of 2012-13," D.S. Rawat, national secretary general of ASSOCHAM said while releasing the chamber's study.
Even on the agriculture and allied sector front, UP has proved to be the slowest in CAGR at 2.9 percent ,well below the national growth rate of 3.7 percent, it said.
Madhya Pradesh clocked highest growth rate of seven percent in terms of agriculture and allied sector performance amid BIMARU states followed by Rajasthan (4.8 percent) and Bihar (4.7 percent).
The share of agriculture and allied sector in UP's GSDP has dipped from 29.7 percent as of 2004-05 to 21.9 percent as of 2012-13, the Assocham study said.
In Bihar it has come down from 31.5 percent to 22.5 percent, while in Rajasthan it has slowed from 25.6 percent to 19.9 percent. MP registered just about three percent decline i.E. From 27.7 percent to 24.2 percent during the period under review.
The contribution of agriculture and allied sector in Indian economy too dipped sharply from 19 percent to 13.7 percent during this period.
"On the industrial sector front, UP has registered 6.9 percent growth rate during the said period while India clocked 7.4 percent CAGR in the industrial sector, it said.
While amid BIMARU states, Bihar clocked highest growth rate of 13.9 percent in the industry sector followed by MP (9.2 percent) and Rajasthan (8.5 percent).
The share of industry sector in UP's economy has marginally declined from 23.3 percent as of 2004-05 to 23.2 as of 2012-13, while it has increased considerably in other BIMARU states - Bihar (from 13.8 percent to 19.2 percent), MP (27.1 percent to 27.9 percent) and Rajasthan (30.6 percent to 31.3 percent).
In the services sector too UP has clocked slowest growth rate of nine percent during 2004-05 and 2012-13 which is not only below other BIMARU states but also the national average of 9.6 percent. Bihar registered highest growth rate of over 10 percent followed by Rajasthan (9.7 percent) and MP (9.6 percent) during the period under review.
UP, however, has recorded highest growth in terms of services sector's contribution to the state economy as it rose from 47 percent in 2004-05 to about 55 percent as of 2012-13 followed by Rajasthan (from 43.8 percent to 48.8 percent), Bihar (from 54.7 percent to 58.3 percent) and MP (from 45.2 percent to 47.9 percent). Though, nationally the services sector share in the GDP increased from 53 percent to 59.6 percent.
At 4.8 percent, UP has also registered slowest per- capita income growth rate between 2004-05 and 2012-13, while Bihar topped with 7.6 percent CAGR amid other BIMARU states followed by MP (7 percent) and Rajasthan (6.1 percent).
Nationally the per-capita income grew by 6.2 percent during this period.
