CRISIL report projects Bihar GSDP growth rate highest in FY 18

Crisil report

Question: Consider the following statements regarding ‘States of Growth 2.0’ report by CRISIL:
1) Report ranks Bihar as the top state in terms of GSDP growth in FY 18
2) In fiscal year 2017 Bihar was at the 8th spot
3) Gujarat occupied third position in the report
4) Expansion in the growth rate came from the sectors with low employment elasticity of the given correct alternative/s is/are:

(a) Only 1 and 2
(b) Only 2 and 3
(c) Only 3 and 4
(d) All of the above
Answer: (d)
Related facts:

  • On 21st Jan 2019, CRISIL report titled States of growth 2.0 ranked Bihar as the top state in terms of GSDP growth in financial year 2017-18.
  • Bihar grabbed the top spot by registering 11.3 % GSDP growth rate in fiscal year2018. Bihar registered 9.9 % GSDP growth in the previous year.
  • The second spot has been secured by Andhra Pradesh whose GSDP growth in FY 18 was 11.2%. Gujarat listed third with growth of 11.1% percent.
  • According to CRISIL report Jharkhand, Kerala and Punjab are placed at the bottom in terms of growth.
  • Twelve out of seventeen states registered positive growth in comparison with the national growth rate which is of 6.7 percent for the same FY.
  • The report has noted that this growth has not translated into job creation as the expansion came from the sectors with low employment elasticity.
  • According to the report the FRBM Act had helped states recover their fiscal health. Debt ratios have risen in many states with the assimilation of schemes like UDAY, farm loan waivers, and Pay Commission hikes.

Links:
https://www.financialexpress.com/economy/bihar-posts-highest-growth-in-fy18-says-crisil-check-bottom-three/1451301/
https://www.thehindu.com/business/bihar-outgrew-others-in-fy18-gdp/article26053966.ece

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