A new study by the Associated Chambers of Commerce and Industry of India (Assocham) has found the Nitish Kumar-ruled Bihar growing faster than Gujarat, though Bihar lags behind the Narendra Modi-ruled state in investment and per capita income.
According to the report, Bihar is catching up with developed states in terms of fresh investment in crucial sectors like power, although it has a huge disadvantage of laggard development in the past.
“Bihar logged in a compounded average growth rate (CAGR) of 20 per cent in public investment between March 2003 and March 2013 while this was 14.1 per cent in the case of Gujarat. Likewise, the CAGR of private investment in the same period was 104.5 per cent in Bihar and 31.9 per cent in Gujarat,” the study noted.
As per the report, the share of public investment in Bihar as on March 2013 was 50.3 per cent, while it was 27 per cent in Gujarat. On the other hand, the share of private sector in Gujarat was way ahead at 72.3 per cent while it was 49.7 per cent in the case of Bihar.
According to the report, Bihar is catching up with developed states in terms of fresh investment in crucial sectors like power, although it has a huge disadvantage of laggard development in the past.
“Bihar logged in a compounded average growth rate (CAGR) of 20 per cent in public investment between March 2003 and March 2013 while this was 14.1 per cent in the case of Gujarat. Likewise, the CAGR of private investment in the same period was 104.5 per cent in Bihar and 31.9 per cent in Gujarat,” the study noted.
As per the report, the share of public investment in Bihar as on March 2013 was 50.3 per cent, while it was 27 per cent in Gujarat. On the other hand, the share of private sector in Gujarat was way ahead at 72.3 per cent while it was 49.7 per cent in the case of Bihar.
