Ranchi: Jharkhand’s economy is likely to shrink by 6.9% in the current fiscal but is expected to recover in the new financial year (FY) and expected to grow by 9.5%, the Jharkhand Economic Survey 2020-21 has projected.
The 432-page survey report, prepared by the state government’s Centre for Fiscal Studies (under the department of planning cum finance), was tabled in the assembly by finance minister Rameshwar Oraon on Tuesday.
The report said Jharkhand s real gross state domestic product (GSDP) was battered by the Covid-19 pandemic and is expected to contract by 6.9% from the 2019-20 FY. GSDP is the sum total of value added by different economic sectors (agriculture, industry & services) produced within the boundaries of the state calculated without duplication during a year. It is one of the measures of economic growth for a state s economy.
Jharkhand may get more Eklavya schools, benefit from freight corridor Hemant mocks Centre slogan, says situation reflects idea of ‘atma-becho Bharat’
The Union Budget 2021-22, tabled by Finance Minister Nirmala Sitaraman on Monday, does not have much in store for the people of Jharkhand, barring the dedicated Eastern Freight Corridor that would pass from Gomoh and Eklavya Schools likely to come up in places that have a high tribal population, economists said on Monday.
While the budget promises road infrastructure development in four poll-bound states – West Bengal, Tamil Nadu, Kerala and Assam economists who have been studying the trends in Jharkhand fear that it would encourage migration from states like Jharkhand and Bihar, which have a high number of labourers.