Bihar's economy on way of tertiarisation

Patna, Mar 6(UNI) The economy of Bihar is witnessing a process of tertiarisation as the share of tertiary sector has increased from 41.3 per cent to 49 in the last decade as per the Economic Survey report,2007.

The report stated that the increase in the share of the tertiary sector shows that the states economy is in the process of tertiarisation even before industrialisation.The growth in the three sectors is uneven as the share of the primary sector has fallen from 48.8 per cent to 42 per cent whereas the secondary sector has remained nearly unaltered at 9.0 per cent.

The growth rate of all the three sectorts varied since 2000-01 to 2004-05 as per the report which says that the growth rate of the entire Bihars economy remained in between 5 to 6 per cent.

As per the report the growth rate in tertiary sector grew consistently at high rate between 6.5 to 7.5 per cent whereas it declined from 6.59 per cent to 4.17 per cent during the period. The growth rate of the primary sector remained between 3.5 to 4.5 per cent in this period.

The report further said that the Gross State Domestic Product (GSDP) for Bihar at 1993-94 prices relating to 2004-05 stands at Rs.39332.10 crore and the growth rate of GSDP varies due to dependency of states economy on its uncertainty prone agriculture sector.

A highly disadvantaged economy is a general phenonmenon of Bihar as per the report, but this disadvantage is not equally found in all districts as the per capita income varies widely between Rs. 6958 (Patna) to Rs.2219 (Sheohar).

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