Bihar - The State With Best GDP Growth In India beat India’s national growth rate

            Bihar has been ranked the top state in terms of GSDP (Gross State Domestic Product) growth in financial year 2017-18, according to a report by Crisil.The state has topped the list by clocking 11.3 percent GSDP growth in fiscal 2018. It was ranked at eighth spot in fiscal 2017 with 9.9 percent GSDP growth.The second spot has been secured by Andhra Pradesh, whose GSDP growth in FY18 jumped to 11.2 percent. Gujarat listed third with growth of 11.1 percent.

             The stereotype is so tenaciously embedded in the public imagination that the very mention of Bihar brings to mind images of a political jungle raj.

              Bihar grew faster despite being landlocked and less exposed to the global economy,The true picture of Bihar is quite the reverse. There was indeed a long period of decline after Independence and, in the not so distant past, a 15-year period of slump between 1990 and 2005. But from 2004-05 to 2014-15, Bihar emerged as the fastest growing state in India, clocking over 10 per cent annual growth for the past decade and, in the process, more than doubling its economy. According to the Bihar Economic Survey, in 2016-17, the last year for which data is available, the growth rate was 10.3 per cent, while the national average was 7 per cent. In 2015-16, Bihar's growth rate was 7.5 per cent.

• As per the 12th Economic Survey of Bihar, the state has seen a consistent growth in revenue. Bihar’s revenue surplus increased from Rs 5,101 crore in 2012 to Rs 10,819 crore in 2016-17. t the state’s surplus is projected to be Rs 14,556 crore during 2017-18 as a result of “better financial management”.
• Gross Financial Deficit (GFD) increased by Rs 4,418 crore in 2016-17. In 2015-16, this increased by Rs 883 crore only. In the current fiscal, Modi said that GFD may rise to Rs 18,112 crore.
• According to Survey, the main drivers of growth in the state are services sector, transport, storage, communication, manufacturing, mining, and quarrying.
• In the manufacturing sector, the Survey said that as many as 2942 factories out of 3530 reported in 2014-15 Survey are operational. This is also higher than the national average in terms of percentage.
• The road density in the state is 289 km per 100 square km. This is also higher than the national average of 139.1 km but behind Kerala and Bengal.

12 large states have registered a Gross Domestic Product (GDP) growth of above 6.7, which is the national average in FY18. With a GDP of 11.3, Bihar registered the highest growth rate in the country in the FY18 followed by Andhra Pradesh at 11.2, Gujarat - 11.1, Telangana - 10.4 and Karnataka 9.3 taking the top five spots. Jharkhand - 4.6, Kerala - 5.0, Punjab - 6.2, UP -6.4 and Chhattisgarh 6.7 were at the bottom of the list in terms of GDP growth in the same period according to a study by rating agency Crisil.