UP lowest among BIMARU states in 9 yrs growth: Assocham
Lucknow: Clocking the slowest compounded annual growth rate (CAGR) of about 6.9 per cent 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 per cent in GSDP during the aforesaid nine year period followed by Madhya Pradesh (8.8 per cent) and Rajasthan (8.2 per cent) even as India’s overall gross domestic product (GDP) grew at eight per cent 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 per cent as of 2004-05 to 8.1 per cent 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 per cent to 2.9 per cent), MP (3.8 per cent to 4 per cent) and Rajasthan (4.3 per cent to 4.4 per cent),” 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 per cent as of 2004-05 to 19.4 per cent 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 per cent ,well below the national growth rate of 3.7 per cent, it said.
Madhya Pradesh clocked highest growth rate of seven per cent in terms of agriculture and allied sector performance amid BIMARU states followed by Rajasthan (4.8 per cent) and Bihar (4.7 per cent).