{"id":5406,"date":"2024-03-02T20:09:24","date_gmt":"2024-03-02T14:39:24","guid":{"rendered":"https:\/\/bpscexamprep.com\/?p=5406"},"modified":"2025-04-16T22:12:02","modified_gmt":"2025-04-16T16:42:02","slug":"bihar-economic-survey-2023-24","status":"publish","type":"post","link":"https:\/\/bpscexamprep.com\/hi\/bihar-economic-survey-2023-24\/","title":{"rendered":"\u092c\u093f\u0939\u093e\u0930 \u0906\u0930\u094d\u0925\u093f\u0915 \u0938\u0930\u094d\u0935\u0947\u0915\u094d\u0937\u0923 2023-24"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"5406\" class=\"elementor elementor-5406\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-11a1d3c e-flex e-con-boxed e-con e-parent\" data-id=\"11a1d3c\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-53e016c elementor-toc--minimized-on-tablet elementor-widget elementor-widget-table-of-contents\" data-id=\"53e016c\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;container&quot;:&quot;#post1, #post2, #post3, #post4, #post5, #post6, #post7, #post8, #post9&quot;,&quot;exclude_headings_by_selector&quot;:[],&quot;marker_view&quot;:&quot;bullets&quot;,&quot;no_headings_message&quot;:&quot;No headings were found on this page.&quot;,&quot;headings_by_tags&quot;:[&quot;h2&quot;,&quot;h3&quot;,&quot;h4&quot;,&quot;h5&quot;,&quot;h6&quot;],&quot;icon&quot;:{&quot;value&quot;:&quot;fas fa-circle&quot;,&quot;library&quot;:&quot;fa-solid&quot;},&quot;minimize_box&quot;:&quot;yes&quot;,&quot;minimized_on&quot;:&quot;tablet&quot;,&quot;hierarchical_view&quot;:&quot;yes&quot;,&quot;min_height&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"table-of-contents.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-toc__header\">\n\t\t\t\t\t\t<h4 class=\"elementor-toc__header-title\">\n\t\t\t\tTable of Contents\t\t\t<\/h4>\n\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--expand\" role=\"button\" tabindex=\"0\" aria-controls=\"elementor-toc__53e016c\" aria-expanded=\"true\" aria-label=\"Open table of contents\"><i aria-hidden=\"true\" class=\"fas fa-chevron-down\"><\/i><\/div>\n\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--collapse\" role=\"button\" tabindex=\"0\" aria-controls=\"elementor-toc__53e016c\" aria-expanded=\"true\" aria-label=\"Close table of contents\"><i aria-hidden=\"true\" class=\"fas fa-chevron-up\"><\/i><\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<div id=\"elementor-toc__53e016c\" class=\"elementor-toc__body\">\n\t\t\t<div class=\"elementor-toc__spinner-container\">\n\t\t\t\t<i class=\"elementor-toc__spinner eicon-animation-spin eicon-loading\" aria-hidden=\"true\"><\/i>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-05c110f e-flex e-con-boxed e-con e-parent\" data-id=\"05c110f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1867861 elementor-widget elementor-widget-text-editor\" data-id=\"1867861\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div><strong><a href=\"https:\/\/bpscexamprep.com\/article\/bihar-economic-survey-2024-25\/\">Click here to read the new Bihar Economic Survey 2024-25<\/a><\/strong>.<\/div><div>\u00a0<\/div><div><hr \/><\/div><div style=\"text-align: justify;\"><span style=\"font-family: arial;\"><span style=\"text-align: justify;\">On <span style=\"color: #ff0000;\"><strong>12<\/strong><\/span><\/span><span style=\"color: #ff0000;\"><strong> February 2024<\/strong><\/span><span style=\"text-align: justify;\">, Bihar&#8217;s Deputy Chief Minister Samrat Choudhary, who is also the Finance Minister<\/span><span style=\"text-align: justify;\">\u00a0tabled the <\/span><b style=\"text-align: justify;\"><span style=\"color: red;\">18th<\/span><\/b><span style=\"text-align: justify;\"><strong> Bihar Economic Survey<\/strong>. The presentation took place on the first day of the Bihar Legislative Assembly&#8217;s budget session <\/span><\/span><span style=\"font-family: arial;\"><span style=\"text-align: justify;\">after the address of Governor <\/span><b style=\"text-align: justify;\"><span style=\"color: red;\">Rajendra Vishwanath Arlekar<\/span><\/b><span style=\"text-align: justify;\">.\u00a0<\/span><\/span><\/div><div style=\"text-align: left;\"><div>\u00a0<\/div><div style=\"text-align: left;\"><span style=\"font-family: arial;\">(Note: Bihar&#8217;s first Economic Survey was presented in <b><span style=\"color: red;\">2006-07 <\/span><\/b>by then deputy Chief Minister &amp; Finance Minister of Bihar Sushil Modi.)<\/span><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3c63d6d e-flex e-con-boxed e-con e-parent\" data-id=\"3c63d6d\" data-element_type=\"container\" data-e-type=\"container\" id=\"post1\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5e2e758 elementor-widget elementor-widget-heading\" data-id=\"5e2e758\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">An overview on Bihar's Economy:<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6e51bdf elementor-widget elementor-widget-heading\" data-id=\"6e51bdf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Gross State Domestic Product (GSDP):<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5fce6b7 elementor-widget elementor-widget-text-editor\" data-id=\"5fce6b7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h6 style=\"text-align: justify;\">(at <a href=\"#Constant-prices\"><b>Constant Prices<\/b><\/a>)<\/h6><ul style=\"text-align: justify;\"><li style=\"text-align: justify;\">In 2022-23 the <strong><a href=\"#GSDP\">Gross State Domestic Product (GSDP) <\/a><\/strong>of Bihar, at <a href=\"#Constant-prices\">Constant prices<\/a>, is estimated to be <strong>\u20b94,42,473\u00a0 crore<\/strong> according to its <a href=\"#QE\">Quick Estimates (Q.E)<\/a>, as against \u20b93,99,930 crore according to its <a href=\"#PE\">Provisional Estimates (P.E)<\/a> in 2021-22.<\/li><li style=\"text-align: justify;\">This implies the real <a href=\"#GSDP\">GSDP<\/a> of Bihar grew at <span style=\"color: #ff0000;\"><strong>10.64 percent<\/strong><\/span> in 2022-23. This growth rate was the <span style=\"color: #ff0000;\"><strong><em>highest <\/em><\/strong><\/span>among all the States and UTs in the country, followed by Assam (10.2 percent) and Delhi (9.2 percent).<\/li><li>The GSDP at constant prices has increased at the average annual rate of <strong>5.4 percent<\/strong> in the state since 2011-12.<\/li><\/ul><p style=\"text-align: justify;\"><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-5450 size-large\" title=\"Size of the Bihar's Economy and its Growth Rate (2019-20 to 2022-23)\" src=\"https:\/\/bpscexamprep.com\/media\/2024\/02\/size-of-bihar-economy-and-growth-rate-1024x558.webp\" alt=\"Size of Bihar economy and growth rate\" width=\"1024\" height=\"558\" srcset=\"https:\/\/bpscexamprep.com\/media\/2024\/02\/size-of-bihar-economy-and-growth-rate-1024x558.webp 1024w, https:\/\/bpscexamprep.com\/media\/2024\/02\/size-of-bihar-economy-and-growth-rate-300x164.webp 300w, https:\/\/bpscexamprep.com\/media\/2024\/02\/size-of-bihar-economy-and-growth-rate-768x419.webp 768w, https:\/\/bpscexamprep.com\/media\/2024\/02\/size-of-bihar-economy-and-growth-rate-1320x720.webp 1320w, https:\/\/bpscexamprep.com\/media\/2024\/02\/size-of-bihar-economy-and-growth-rate-600x327.webp 600w, https:\/\/bpscexamprep.com\/media\/2024\/02\/size-of-bihar-economy-and-growth-rate.webp 1487w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p><ul style=\"text-align: justify;\"><li style=\"text-align: justify;\">The real GSDP of the State shows a dip in 2020-21, which was due to the COVID-19 restrictions. Later the economic activities expanded rapidly and the real GSDP has exceeded the pre-COVID levels as projected by the quick estimates in 2022-23.<\/li><\/ul><p style=\"text-align: justify;\"><span style=\"font-family: arial; font-size: 16px;\">\u2022 In 2022-23, the Global growth rate was 3.1 percent, while the Indian economy grew at a rate of 7.2 percent.<\/span><\/p><p style=\"text-align: justify;\"><span style=\"font-family: arial; font-size: 16px;\">\u2022 T<\/span><span style=\"font-family: arial; font-size: 16px;\">he growth rate of Bihar was 7.5 percentage points higher than the global growth rate, while 3.4\u00a0percentage points higher compared with the Indian economy.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-10dbc06 elementor-widget elementor-widget-text-editor\" data-id=\"10dbc06\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h6>(at <a href=\"#Current-prices\" data-wplink-edit=\"true\"><strong>Current prices<\/strong><\/a>)<\/h6><ul><li>In 2022-23 the <strong>GSDP<\/strong>, of Bihar at <a href=\"#Current-prices\">Current prices<\/a> is estimated to be\u00a0<b>\u20b97,51,396 crore <\/b>(Q.E), as against \u20b96,50,302 crore\u00a0 (P.E) in 2021-22, implying a growth of <strong>15.5 percent<\/strong>.<\/li><li>The GSDP at current prices has increased at the average annual rate of<strong> 10.6 percent<\/strong> in the state since 2011-12<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8ac5dc7 elementor-widget elementor-widget-heading\" data-id=\"8ac5dc7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\">Per Capita GSDP:<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1a586a2 elementor-widget elementor-widget-text-editor\" data-id=\"1a586a2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: justify;\">(at Constant prices):<\/p><ul style=\"text-align: justify;\"><li>In 2022-23, at Constant prices, the <strong>per capita GSDP<\/strong> (i.e. the real <a href=\"#PCI\" data-wplink-edit=\"true\">per capita income<\/a>) in Bihar stood at <span style=\"color: red; font-weight: bold;\">\u20b935,119 <\/span>and it was <span style=\"color: #ff0000;\"><b>9 per cent<\/b><\/span> <b><i>higher<\/i><\/b> than the previous year (2021-22).<\/li><\/ul><p style=\"text-align: justify;\">(at Current prices):<\/p><ul style=\"text-align: justify;\"><li style=\"text-align: justify;\">\u00a0In 2022-23, at Current prices, the <strong>per capita GSDP <\/strong>(i.e. the nominal per capita income) in Bihar stood at <span style=\"color: red; font-weight: bold;\">\u20b959,637<\/span>\u00a0with an <strong><em>increase<\/em><\/strong> of\u00a0 <b>13.9 percent <\/b>over the previous year.\u00a0<\/li><\/ul><p style=\"text-align: justify;\">\u2022 In 2022-23, India\u2019s real and nominal per capita income is estimated to be <strong>\u20b998,374<\/strong> and <strong>\u20b91,72,276<\/strong> and, respectively.<\/p><p style=\"text-align: justify;\">\u2022 The average annual percentage growth in real per capita income of Bihar was <strong>2.3 percent<\/strong> during the previous five years, which is higher than the growth rate of 1.7 percent of India.\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-68d59c1 e-flex e-con-boxed e-con e-parent\" data-id=\"68d59c1\" data-element_type=\"container\" data-e-type=\"container\" id=\"post2\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3ba02ab elementor-widget elementor-widget-heading\" data-id=\"3ba02ab\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"post2\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Net State Domestic Product\u00a0(NSDP) <\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-311fa90 elementor-widget elementor-widget-text-editor\" data-id=\"311fa90\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h6 style=\"text-align: justify;\">(at Constant prices)<\/h6><ul style=\"text-align: justify;\"><li>In 2022-23, the real Net State Domestic Product (NSDP) of Bihar is estimated to be <strong>\u20b93,94,114\u00a0 crore<\/strong>.<\/li><li>The NSDP at constant prices has increased at the average annual rate of <strong>5.1 percent<\/strong> in the state since 2011-12.<\/li><\/ul><h6 style=\"text-align: justify;\">(at Current prices)<\/h6><ul><li style=\"text-align: justify;\">In 2022-23, the nominal Net State Domestic Product (NSDP) of Bihar is estimated to be <strong>\u20b96,81,761\u00a0 crore<\/strong>.<\/li><li style=\"text-align: justify;\">The NSDP at current prices has increased at the average annual rate of <strong>10.4 percent<\/strong> in the state since 2011-12.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a4759b0 elementor-widget elementor-widget-heading\" data-id=\"a4759b0\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"post2\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\">Per Capita NSDP:<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c1d9136 elementor-widget elementor-widget-text-editor\" data-id=\"c1d9136\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: justify;\">(at Constant prices):<\/p><p style=\"text-align: justify;\">\u2022 The per capita NSDP at constant prices of Bihar stood at <strong>\u20b931,280<\/strong> in 2022-23.<\/p><p style=\"text-align: justify;\">\u2022 This has increased at an average annual rate of <strong>3.4 percent<\/strong> between 2011-12 and 2022-23.\u00a0<\/p><p style=\"text-align: justify;\">\u2022 The percentage growth is estimated to be <strong>9.1 percent<\/strong> in 2022-23.<\/p><p style=\"text-align: justify;\">\u2022 The per capita NSDP of Bihar was <strong>31.8 percent<\/strong> of the national average (\u20b9 98,374).<\/p><p style=\"text-align: justify;\">(at Current prices):<br \/>\u2022 The estimated NSDP at Current prices in 2022-23 is <strong>\u20b9 6,81,761 crore<\/strong>, implying a per capita NSDP of <strong><span style=\"color: #ff0000;\">\u20b954,111<\/span><\/strong>.<\/p><p>(<strong>Note<\/strong>: <strong><span style=\"color: #ff0000;\">The Per Capita Income of a State is measured as the Per Capita NSDP<\/span><\/strong>)\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-c874779 e-flex e-con-boxed e-con e-parent\" data-id=\"c874779\" data-element_type=\"container\" data-e-type=\"container\" id=\"post3\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a6a8a08 elementor-widget elementor-widget-heading\" data-id=\"a6a8a08\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Structural Composition of Bihar Economy<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-81cf1c7 elementor-widget elementor-widget-text-editor\" data-id=\"81cf1c7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: justify;\">Among the three major sectors (Primary, Secondary, and Tertiary), the share of each sector in the overall <a href=\"#GSVA\"><b>Gross State Value Added<\/b>\u00a0(<b>GSVA<\/b>)<\/a> in the year 2022-2023 are as follows:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0d31558 elementor-widget elementor-widget-html\" data-id=\"0d31558\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<script type=\"text\/javascript\" src=\"https:\/\/www.gstatic.com\/charts\/loader.js\"><\/script>\r\n<script type=\"text\/javascript\">\r\n  google.charts.load(\"current\", {packages:[\"corechart\"]});\r\n  google.charts.setOnLoadCallback(drawChart);\r\n\r\n  function getResponsiveOptions() {\r\n    return {\r\n      title: 'Sectoral Distribution of GSVA in 2022-23 (Percent)',\r\n      titleTextStyle: {\r\n        fontSize: window.innerWidth < 768 ? 14 : 18,\r\n        bold: true,\r\n      },\r\n      pieHole: 0.4,\r\n      chartArea: {\r\n        width: '90%',\r\n        height: '80%',\r\n      },\r\n      legend: {\r\n        position: window.innerWidth < 768 ? 'bottom' : 'right',\r\n        textStyle: {\r\n          fontSize: window.innerWidth < 768 ? 10 : 12,\r\n        },\r\n      },\r\n    };\r\n  }\r\n\r\n  function drawChart() {\r\n    var data = google.visualization.arrayToDataTable([\r\n      ['Sectors', 'Percent'],\r\n      ['Primary', 19.97],\r\n      ['Secondary', 20.04],\r\n      ['Tertiary', 59.98],\r\n    ]);\r\n\r\n    var options = getResponsiveOptions();\r\n\r\n    var chart = new google.visualization.PieChart(document.getElementById('donutchart'));\r\n    chart.draw(data, options);\r\n  }\r\n\r\n  window.onresize = function () {\r\n    drawChart();\r\n  };\r\n<\/script>\r\n\r\n<body>\r\n  <div class=\"chart-container\" style=\"position: relative; width: 100%; height: auto;\">\r\n    <div id=\"donutchart\" style=\"width: 100%; height: 500px;\"><\/div>\r\n    <div class=\"copyright\" style=\"position: absolute; bottom: 120px; right: 30px; color: #7e7e7e54; font-size: 10pt;\">\r\n      \u00a9bpscexamprep.com\r\n    <\/div>\r\n  <\/div>\r\n<\/body>\r\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-614c140 elementor-widget elementor-widget-text-editor\" data-id=\"614c140\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h5 style=\"text-align: justify;\"><strong>Primary sector:<\/strong><\/h5><p style=\"text-align: justify;\">The share of the primary sector has declined from 22.14 percent in 2016-17 to <span style=\"color: #ff0000;\"><strong>19.97 percent<\/strong><\/span> in 2022-23.<\/p><p style=\"text-align: justify;\">In the primary sector, Crops and Livestock are significant contributors, with shares of 9.9% and 6.6% respectively in 2022-23. However, the share of Crops has been <em><strong>decreasing<\/strong><\/em> at an average annual rate of 4.0% since 2016-17, while the share of Livestock has <em><strong>increased<\/strong><\/em> at an average annual rate of 2.3% over the same period. This could indicate a diversification within the primary sector, with a growing emphasis on livestock.<\/p><h5 style=\"text-align: justify;\">Secondary Sector:<\/h5><p style=\"text-align: justify;\">The share of the secondary sector has also recorded a marginal decline from 20.60 percent in 2016-17 to <strong><span style=\"color: #ff0000;\">20.04 percent<\/span> <\/strong>in 2022-23.<\/p><p style=\"text-align: justify;\">The secondary sector is dominated by Manufacturing and Construction, each contributing 8.7% and 9.4% respectively to the GSVA in 2022-23. Their shares have remained relatively stable from 2016-17 to 2022-23.<\/p><h5 style=\"text-align: justify;\">Tertiary Sector:<\/h5><p style=\"text-align: justify;\">The tertiary sector has seen <em><strong>growth<\/strong><\/em>, with its overall share increasing from 57.26 percent in 2016-17 to <span style=\"color: #ff0000;\"><strong>59.98 percent<\/strong><\/span> in 2022-23.<\/p><p style=\"text-align: justify;\">The tertiary sector has contributed significantly to the growth of the state&#8217;s economy in the last four years, from 2019-20 to 2022-23.Within this sector, Trade &amp; Repair Services and Transport, Storage, Communication &amp; Services related to Broadcasting (TSC&amp;S) are significant, contributing 15.8% and 10.7% respectively in 2022-23. Notably, the share of road transport within TSC&amp;S has increased from 5.01% in 2016-17 to 5.87% in 2022-23. Real Estate, Ownership of Dwelling &amp; Professional Services (REID&amp;PS) also contributed 9.4% to the GSVA in 2022-23.<\/p><p><style type=\"text\/css\" media=\"print\">\nbody {display:none;visibility:hidden;}<br \/>\n<\/style><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-6189699 e-flex e-con-boxed e-con e-parent\" data-id=\"6189699\" data-element_type=\"container\" data-e-type=\"container\" id=\"post4\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-46beb85 elementor-widget elementor-widget-heading\" data-id=\"46beb85\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Sector-wise growth rate in Value-added in Bihar's economy<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-87c7c7f elementor-widget elementor-widget-text-editor\" data-id=\"87c7c7f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><img decoding=\"async\" class=\"aligncenter wp-image-5499 size-large\" src=\"https:\/\/bpscexamprep.com\/media\/2024\/02\/Sector-wise-growth-rate-in-Value-added-in-Bihars-economy-1024x603.webp\" alt=\"Sector wise growth rate in Value added in Bihar's economy\" width=\"1024\" height=\"603\" srcset=\"https:\/\/bpscexamprep.com\/media\/2024\/02\/Sector-wise-growth-rate-in-Value-added-in-Bihars-economy-1024x603.webp 1024w, https:\/\/bpscexamprep.com\/media\/2024\/02\/Sector-wise-growth-rate-in-Value-added-in-Bihars-economy-300x177.webp 300w, https:\/\/bpscexamprep.com\/media\/2024\/02\/Sector-wise-growth-rate-in-Value-added-in-Bihars-economy-768x452.webp 768w, https:\/\/bpscexamprep.com\/media\/2024\/02\/Sector-wise-growth-rate-in-Value-added-in-Bihars-economy-600x353.webp 600w, https:\/\/bpscexamprep.com\/media\/2024\/02\/Sector-wise-growth-rate-in-Value-added-in-Bihars-economy.webp 1227w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p><p style=\"text-align: justify;\"><span style=\"text-decoration: underline;\"><strong>Primary Sector:<\/strong><\/span><\/p><ul style=\"text-align: justify;\"><li>Over the recent years, the primary sector has shown relatively stable growth in the economic activities.<\/li><li>During the COVID-19 pandemic, the value added by the activities in the primary sector expanded by 4.4 percent.<\/li><li>The value-added by the primary sector is estimated to increase by <strong>6.7 percent<\/strong> in 2022-23.<\/li><\/ul><p style=\"text-align: justify;\"><span style=\"text-decoration: underline;\"><strong>Secondary Sector:<\/strong><\/span><\/p><ul style=\"text-align: justify;\"><li>In recent years, the secondary sector has shown small growth in the economic activities.<\/li><li>The secondary sector expanded by 1.6 percent in 2020-21.\u00a0<\/li><li>This is estimated to increase at a relatively higher rate of 8.3 percent in 2021-22.\u00a0<\/li><li>The value added by the secondary sector is estimated to increase by <strong>6.8 percent<\/strong> in 2022-23.<\/li><\/ul><p style=\"text-align: justify;\"><span style=\"text-decoration: underline;\"><strong>Tertiary Sector:<\/strong><\/span><\/p><ul><li style=\"text-align: justify;\">In the recent years, the year-on-year growth in tertiary sector has been more volatile than the primary and secondary sectors.<\/li><li style=\"text-align: justify;\">In 2020, this sector has seen a sharp decline due to the COVID-19 pandemic. However, it has shown a V-shaped recovery later.<\/li><li style=\"text-align: justify;\">The tertiary sector expanded by 13.7 percent in 2021-22 after a contraction of 12.7 percent in 2020-21.<\/li><li style=\"text-align: justify;\">The value added by the tertiary sector is estimated to increase by a substantial\u00a0<strong>13.0 percent<\/strong>\u00a0in 2022-23.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-cdf11ee e-flex e-con-boxed e-con e-parent\" data-id=\"cdf11ee\" data-element_type=\"container\" data-e-type=\"container\" id=\"post5\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0f70c84 elementor-widget elementor-widget-heading\" data-id=\"0f70c84\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Comparison of sector-wise share in GSVA\/GVA and Employment for Bihar and India:<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e69bbf0 elementor-widget elementor-widget-text-editor\" data-id=\"e69bbf0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: justify;\"><strong>Primary Sector:<\/strong><\/p><ul style=\"text-align: justify;\"><li>This sector has the most significant employment share but the lowest shares in terms of value added for both Bihar and India.<\/li><li>Agriculture remains the biggest employer within this sector.<\/li><li>The share of the primary sector in GSVA was 20.7 percent in Bihar and 17.8 percent in India in 2021-22.<\/li><li>The sector absorbed 47.8 percent of the total workforce in Bihar and 45.8 percent in India in 2021-22.<\/li><li>The share of the primary sector in employment increased by 2.6 percentage points in Bihar and 1.2 percentage points in India between 2017-18 and 2021-22.<\/li><\/ul><p style=\"text-align: justify;\"><strong>Secondary Sector:<\/strong><\/p><ul style=\"text-align: justify;\"><li>This sector had a 20.7 percent share in GSVA in Bihar and a 29.2 percent share in India in 2021-22.<\/li><li>The sector\u2019s share in employment was 25.9 percent in Bihar and 24.6 percent in India.<\/li><li>Within this sector, Construction had the highest share of employment in both Bihar (18.6%) and India (12.4%) in 2021-22.<\/li><li>The manufacturing sector had a 9.5 percent share in GSVA in Bihar and an 18.4 percent share in India in 2021-22. However, the share of manufacturing in employment was lower, at 6.8 percent in Bihar and 11.6 percent in India.<\/li><\/ul><p style=\"text-align: justify;\"><strong>Tertiary Sector:<\/strong><\/p><ul style=\"text-align: justify;\"><li>This sector had a 58.6 percent share in GSVA in Bihar and a 53.0 percent share in India in 2021-22.<\/li><li>However, the share of the sector in employment was lower, at 26.3 percent in Bihar and 29.7 percent in India.<\/li><\/ul><p style=\"text-align: justify;\">In summary, the primary sector employs the most people but contributes the least to the GSVA, while the tertiary sector contributes the most to the GSVA but employs fewer people. The secondary sector falls in between. These trends are similar for both Bihar and India as a whole.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8e74d11 e-flex e-con-boxed e-con e-parent\" data-id=\"8e74d11\" data-element_type=\"container\" data-e-type=\"container\" id=\"post6\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2a0d0d8 elementor-widget elementor-widget-heading\" data-id=\"2a0d0d8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Gross Fixed Capital Formation (GFCF):<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6804042 elementor-widget elementor-widget-text-editor\" data-id=\"6804042\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>In the dynamic world of economics, where growth and development are paramount, the concept of GFCF plays a pivotal role. Imagine a state where investments are not merely consumed but channeled into productive assets\u2014this is precisely what GFCF represents. In economic terms, GFCF represents the investment in fixed assets rather than consumption. It is calculated as the total value of a producer\u2019s acquisitions minus disposals of fixed assets during an accounting period, along with certain additions to the value of non-produced assets realized through productive activity.\u00a0<span style=\"font-family: arial; text-align: var(--text-align); background-color: var( --e-global-color-astglobalcolor5 ); color: var(--ast-global-color-3); font-size: 1rem;\">Estimates of GFCF are compiled only for the Government sector and departmental commercial undertaking.<\/span><\/p><p style=\"font-size: 16px; font-style: normal; font-weight: 400;\"><img decoding=\"async\" class=\"aligncenter wp-image-5522 size-full\" src=\"https:\/\/bpscexamprep.com\/media\/2024\/03\/GFCF-bihar.webp\" alt=\"Gross Fixed Capital Formation (GFCF) as percentage of GSDP in Bihar\" width=\"473\" height=\"368\" srcset=\"https:\/\/bpscexamprep.com\/media\/2024\/03\/GFCF-bihar.webp 473w, https:\/\/bpscexamprep.com\/media\/2024\/03\/GFCF-bihar-300x233.webp 300w\" sizes=\"(max-width: 473px) 100vw, 473px\" \/><\/p><p><span style=\"font-family: arial; text-align: var(--text-align); background-color: var( --e-global-color-astglobalcolor5 ); color: var(--ast-global-color-3); font-size: 1rem;\">The GFCF at current prices in Bihar has increased from \u20b916,429 crore in 2018-19 to <strong>\u20b935,343 crore<\/strong> in 2022-23.<\/span><\/p><p><span style=\"text-align: var(--text-align); background-color: var( --e-global-color-astglobalcolor5 );\"><span style=\"font-family: arial;\">The GFCF as a percentage of GSDP at current prices has consistently risen from 1.6 percent in 2019-20 to<span style=\"color: #ff0000;\"><strong> 4.7 percent<\/strong><\/span>\u00a0in 2022-23.<\/span><br \/><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7a3ffc4 e-flex e-con-boxed e-con e-parent\" data-id=\"7a3ffc4\" data-element_type=\"container\" data-e-type=\"container\" id=\"post7\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5a0664e elementor-widget elementor-widget-heading\" data-id=\"5a0664e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Regional Disparity:<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4b377ec elementor-widget elementor-widget-text-editor\" data-id=\"4b377ec\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div style=\"text-align: justify;\"><span style=\"font-family: arial;\"><span style=\"text-align: justify;\">Bihar&#8217;s economy is also characterized by considerable regional (inter-district) disparity.<\/span><\/span><span style=\"font-family: arial; text-align: justify;\">\u00a0This implies that the benefits of the growth process are yet to reach evenly across its 38 districts.<\/span><\/div>\n<div style=\"text-align: justify;\"><span style=\"font-family: arial; text-align: justify;\">\u00a0<\/span><\/div>\n<div style=\"text-align: justify;\"><span style=\"font-family: arial;\">One of the key indicators of this phenomenon is the <b><span style=\"color: red;\">Per Capita GDDP <\/span><\/b>of various districts. The estimates of <b><span style=\"color: red;\">Per Capita Gross District Domestic Product (GDDP)<\/span><\/b> is prepared by the<b><span style=\"color: red;\"> Directorate of Economics and Statistics<\/span><\/b> (<b><span style=\"color: red;\">DES<\/span><\/b>).<\/span><\/div>\n<div style=\"text-align: justify;\"><span style=\"font-family: arial;\"><span style=\"text-align: justify;\">\u00a0<\/span><\/span><\/div>\n<div><span style=\"font-family: arial;\"><span style=\"text-align: justify;\">Based on <b>Per Capita GDDP<\/b> the three most prosperous and\u00a0<\/span><\/span><span style=\"font-family: arial; text-align: justify;\">least developed districts<\/span><span style=\"font-family: arial; text-align: justify;\">\u00a0in Bihar are as follows:<\/span><\/div>\n<div><span style=\"font-family: arial; text-align: justify;\">\u00a0<\/span><\/div>\n<blockquote style=\"font-size: 12pt; margin: 1em 20px; padding: 10px; border: 3px solid #ffa400;\">\n<p style=\"text-align: center;\"><span style=\"font-family: arial; text-align: justify;\"><b><span style=\"color: #ffa400;\"><u>Most Prosperous:<\/u><\/span><\/b><\/span><\/p>\n\n<div><span style=\"font-family: arial;\"><span style=\"text-align: justify;\">1. <b><span style=\"color: red;\">Patna<\/span><\/b> (Highest Per Capita GDDP of\u00a0<span style=\"font-size: 12pt;\"><span style=\"color: red; font-weight: bold;\">\u20b91,14,541<\/span>)<\/span><\/span><\/span><\/div>\n<div><span style=\"font-family: arial;\"><span style=\"text-align: justify;\">2. Begusarai (<span style=\"font-size: 12pt;\">\u20b946,991)<\/span><\/span><\/span><\/div>\n<div><span style=\"font-family: arial;\"><span style=\"text-align: justify;\">3. Munger (<span style=\"font-size: 12pt;\">\u20b9<\/span>44,176)<\/span><\/span><\/div><\/blockquote>\n<div><span style=\"font-family: arial;\"><span style=\"text-align: justify;\">\u00a0<\/span><\/span><\/div>\n<blockquote style=\"font-size: 12pt; margin: 1em 20px; padding: 10px; border: 3px dotted #ff0000;\">\n<div>\n<p style=\"line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 3; text-align: center;\"><b><span style=\"color: #ffa400;\"><u>Least developed:<\/u><\/span><\/b><\/p>\n\n<\/div>\n<div>\n<div style=\"line-height: normal;\">1. <span style=\"color: #ff0000;\"><strong>Sheohar<\/strong><\/span> (\u20b918,980)\n2. Araria (\u20b919,795)\n3. Sitamarhi (\u20b921,448)<\/div>\n<\/div><\/blockquote>\n<div>\n<p style=\"text-align: justify;\">\u2022 The per capita GDDP of Patna is nearly six times the Per Capita GDDP of Sheohar.<\/p>\n\u2022 The <a href=\"#PCI\">per capita income<\/a> in the six districts of Bihar, viz., Patna, Begusarai, Munger, Bhagalpur Muzaffarpur, and Rohtas, was higher than the state average (\u20b932,212) in 2021-22.\n<p style=\"text-align: justify;\">The economic disparity across the districts may also be considered through the Consumption of Petroleum Products (Petrol, Diesel, and LPG). Based on this, the relatively prosperous and impoverished districts of Bihar are as follows:<\/p>\n<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-5523 size-full\" src=\"https:\/\/bpscexamprep.com\/media\/2024\/03\/Relatively-prosperous-and-impoverished-districts-of-bihar.webp\" alt=\"Relatively prosperous and impoverished districts of Bihar\" width=\"573\" height=\"262\" srcset=\"https:\/\/bpscexamprep.com\/media\/2024\/03\/Relatively-prosperous-and-impoverished-districts-of-bihar.webp 573w, https:\/\/bpscexamprep.com\/media\/2024\/03\/Relatively-prosperous-and-impoverished-districts-of-bihar-300x137.webp 300w\" sizes=\"(max-width: 573px) 100vw, 573px\" \/>\n\n<\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8f7cbed e-flex e-con-boxed e-con e-parent\" data-id=\"8f7cbed\" data-element_type=\"container\" data-e-type=\"container\" id=\"post8\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5fceb76 elementor-widget elementor-widget-heading\" data-id=\"5fceb76\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Inflation:<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f54d86e elementor-widget elementor-widget-text-editor\" data-id=\"f54d86e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The percentage increase in the prices of commodities and services over a period of time is termed as inflation rate.<\/p><p>The annual Inflation Rate for the <a href=\"#CPI\">Consumer Price Index (CPI)<\/a> base 2012, for the second half of the year 2022-23 is as follows:<\/p><p><strong>Rural<\/strong>: 5.5<strong>%<\/strong><\/p><p><strong>Urban<\/strong>: 5.6%<\/p><p><strong>Combined <\/strong>(Rural &amp; Urban): <strong>5.5%<\/strong><\/p><p>The inflation rate in Bihar was <span style=\"color: #ff0000;\"><strong>5.5 percent<\/strong><\/span> between September 2022 and September 2023.<\/p><p>The inflation rate in Bihar exceeded the all-India level, which stood at 5 percent.<\/p><p>Moreover, the rural rate of inflation in Bihar was also higher than the all-India level, which stood at 5.3 percent. It may be noted here that since, in Bihar, close to 90 percent of the population lives in rural areas, it&#8217;s the CPI for rural areas that&#8217;s more relevant for the people of Bihar.<\/p><p>To a relief, the price rise in Bihar has remained lower than many other major states like Haryana, Rajasthan, and Karnataka during this period.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b7df489 elementor-widget-divider--separator-type-pattern elementor-widget-divider--no-spacing elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"b7df489\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\" style=\"--divider-pattern-url: url(&quot;data:image\/svg+xml,%3Csvg xmlns=&#039;http:\/\/www.w3.org\/2000\/svg&#039; preserveAspectRatio=&#039;xMidYMid meet&#039; overflow=&#039;visible&#039; height=&#039;100%&#039; viewBox=&#039;0 0 126 26&#039; fill=&#039;black&#039; stroke=&#039;none&#039;%3E%3Cpath d=&#039;M10.7,6l2.5,2.6l-4,4.3l4,5.4l-2.5,1.9l-4.5-5.2l-3.9,4.2L0.7,17L4,13.1L0,8.6l2.3-1.3l3.9,3.9L10.7,6z M23.9,6.6l4.2,4.5L32,7.2l2.3,1.3l-4,4.5l3.2,3.9L32,19.1l-3.9-3.3l-4.5,4.3l-2.5-1.9l4.4-5.1l-4.2-3.9L23.9,6.6zM73.5,6L76,8.6l-4,4.3l4,5.4l-2.5,1.9l-4.5-5.2l-3.9,4.2L63.5,17l4.1-4.7L63.5,8l2.3-1.3l4.1,3.6L73.5,6z M94,6l2.5,2.6l-4,4.3l4,5.4L94,20.1l-3.9-5l-3.9,4.2L84,17l3.2-3.9L84,8.6l2.3-1.3l3.2,3.9L94,6z M106.9,6l4.5,5.1l3.9-3.9l2.3,1.3l-4,4.5l3.2,3.9l-1.6,2.1l-3.9-4.2l-4.5,5.2l-2.5-1.9l4-5.4l-4-4.3L106.9,6z M53.1,6l2.5,2.6l-4,4.3l4,4.6l-2.5,1.9l-4.5-4.5l-3.5,4.5L43.1,17l3.2-3.9l-4-4.5l2.3-1.3l3.9,3.9L53.1,6z&#039;\/%3E%3C\/svg%3E&quot;);\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-590030f e-flex e-con-boxed e-con e-parent\" data-id=\"590030f\" data-element_type=\"container\" data-e-type=\"container\" id=\"post9\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ced0c52 elementor-widget elementor-widget-heading\" data-id=\"ced0c52\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Few Definitions:<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0e62a0d elementor-widget elementor-widget-text-editor\" data-id=\"0e62a0d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div>\n<p style=\"text-align: justify;\"><span style=\"font-family: arial;\"><b><span style=\"color: #f79646; line-height: 18.4px; mso-bidi-font-size: 12.0pt; mso-themecolor: accent6;\">\u25a0\u00a0<a id=\"GSDP\" href=\"#GSDP\"><span style=\"font-size: medium;\">Gross State Domestic Product<\/span><\/a><\/span><\/b><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"font-size: medium;\">\u00a0(<b><span style=\"color: #f79646; mso-themecolor: accent6;\">GSDP<\/span><\/b>)<\/span>: GSDP is defined as a measure, in monetary terms, of the volume of all final goods and services produced within the boundaries of the State during a given period of time.<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: arial;\"><b><span style=\"color: #f79646; line-height: 18.4px; mso-bidi-font-size: 12.0pt; mso-themecolor: accent6;\">\u00a0<\/span><\/b><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: arial;\"><b><span style=\"color: #f79646; line-height: 18.4px; mso-bidi-font-size: 12.0pt; mso-themecolor: accent6;\">\u25a0\u00a0<a href=\"https:\/\/bpscexamprep.com\/#GSVA\"><span style=\"font-size: medium;\">Gross State Value Added<\/span><\/a><\/span><\/b><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><a href=\"#GSVA\" id=\"GSVA\"><span style=\"font-size: medium;\">\u00a0(<b><span style=\"color: #f79646; mso-themecolor: accent6;\">GSVA<\/span><\/b>)<\/span><\/a>: The value of output minus the cost of inputs is the value added by a production unit. GSVA is the sum of value added for all final goods and services.\u00a0<\/span><\/span><\/p>\n\n<\/div>\n<blockquote style=\"font-family: Arial; font-size: 12pt; margin: 1em 20px; padding: 10px; text-align: justify; border: 3px solid #2200CC;\">\n<p style=\"text-align: center;\"><span style=\"font-family: arial;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\">GSDP is GSVA plus subsidies, minus taxes.<\/span><\/span><\/p>\n<\/blockquote>\n<div>\n<p style=\"text-align: justify;\"><span style=\"font-family: arial;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\">\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #ffa400;\"><b>\u25a0 <a href=\"#PE\" id=\"PE\"><span style=\"font-size: medium;\">Provisional Estimate <\/span><\/a><\/b><a href=\"http:\/\/bpscexampreparation.blogspot.com\/#PE\" rel=\"nofollow noopener\" target=\"_blank\"><span style=\"font-size: medium;\">(<b>PE<\/b>)<\/span><\/a>:\u00a0<\/span>The Provisional Estimate is the first full-year (i.e whole financial year) estimate which is based on 12 months of data on all sectoral indicators.<\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #ffa400;\">\u25a0<\/span> <span style=\"font-size: medium;\"><b><a href=\"#QE\" id=\"QE\">Quick Estimate (QE)<\/a><\/b>: <\/span>Quick Estimate which is also called as First Revised Estimate is based on the detailed information budget of the Government, financial statements of public and private corporations, 42 crops, horticulture, animal husbandry and forestry.<\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: arial;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"color: #ffa400;\"><b>\u00a0<\/b><\/span><\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: arial;\"><span style=\"color: #f79646; font-weight: bold; line-height: 18.4px; mso-bidi-font-size: 12.0pt; mso-themecolor: accent6;\">\u25a0\u00a0<a href=\"#PCI\" id=\"PCI\"><span style=\"font-size: medium;\">Per Capita Income (PCI)<\/span><\/a>:\u00a0<\/span><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt; mso-themecolor: accent6;\">PCI or average income measures the average income earned per person in a given area in a specified year. It&#8217;s calculated by dividing the area&#8217;s total income by its total population.<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: arial;\"><b><span style=\"color: #f79646; line-height: 18.4px; mso-bidi-font-size: 12.0pt; mso-themecolor: accent6;\">\u00a0<\/span><\/b><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: arial;\"><b><span style=\"color: #f79646; line-height: 18.4px; mso-bidi-font-size: 12.0pt; mso-themecolor: accent6;\">\u25a0\u00a0<a href=\"#Constant-prices\" id=\"Constant-prices\"><span style=\"font-size: medium;\">Constant prices<\/span><\/a><\/span><\/b><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\">\u00a0are a way of measuring economic change considering a year as\u00a0<b><span style=\"color: red;\">base year\u00a0<\/span><\/b>as in this case, it is\u00a0<b><span style=\"color: red;\">2011-12<\/span><\/b>. It gives the\u00a0<b><span style=\"color: red;\">real\u00a0<\/span>Gross State Domestic Product<\/b>\u00a0(<b>GSDP<\/b>) growth.<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"font-family: arial;\">Constant prices\u00a0<i><span style=\"color: red;\">adjust for the effects of inflation<\/span><\/i>, while computing GSDP. Use of constant prices enables measurement of the actual change in output, correcting for the effects of inflation.<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: arial;\"><b><span style=\"color: #f79646; line-height: 18.4px; mso-bidi-font-size: 12.0pt; mso-themecolor: accent6;\">\u00a0<\/span><\/b><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: arial;\"><b><span style=\"color: #f79646; line-height: 18.4px; mso-bidi-font-size: 12.0pt; mso-themecolor: accent6;\">\u25a0\u00a0<a href=\"#Current-prices\" id=\"Current-prices\"><span style=\"font-size: medium;\">Current prices<\/span><\/a><\/span><\/b><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\">\u00a0are a way of measuring economic change considering price prevailing in the\u00a0<b><span style=\"color: red;\">same year<\/span><\/b>. It gives the\u00a0<b><span style=\"color: red;\">nominal\u00a0<\/span>Gross State Domestic Product<\/b>\u00a0(<b>GSDP<\/b>) growth.<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"font-family: arial;\">\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: arial;\"><b><span style=\"color: #f79646; line-height: 18.4px; mso-bidi-font-size: 12.0pt; mso-themecolor: accent6;\">\u25a0\u00a0<span style=\"font-size: medium;\">Factor cost<\/span><\/span><\/b><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"font-size: medium;\">:<\/span>\u00a0It is the total cost of all the factors of production (Land, Labour, Capital and Entrepreneur) consumed or used in producing a good or service.<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: arial;\"><b><span style=\"color: #f79646; line-height: 18.4px; mso-bidi-font-size: 12.0pt; mso-themecolor: accent6;\">\u00a0<\/span><\/b><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: arial;\"><b><span style=\"color: #f79646; line-height: 18.4px; mso-bidi-font-size: 12.0pt; mso-themecolor: accent6;\">\u25a0\u00a0<span style=\"font-size: medium;\">Basic Price:<\/span>\u00a0<\/span><\/b><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\">It\u2019s the\u00a0<i><span style=\"color: red;\">amount receivable by the producer from the purchaser<\/span><\/i>\u00a0for a unit of a good or service produced as output\u00a0<b><span style=\"color: red;\">minus any tax<\/span><\/b>\u00a0payable, and\u00a0<b><span style=\"color: red;\">plus any subsidy<\/span><\/b>\u00a0receivable, by the producer as a consequence of its production or sale. It excludes any transport charges invoiced separately by the producer.<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"font-family: arial;\">Basic prices\u00a0<b><i><span style=\"color: red;\">exclude any taxes on products<\/span><\/i><\/b>\u00a0the producer receives from the purchaser and passes on to government but\u00a0<b><i><span style=\"color: red;\">include any subsidies<\/span><\/i><\/b>\u00a0the producer receives from government and uses to lower the prices charged to purchasers.<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"font-family: arial;\">\u00a0<\/span><\/span><\/p>\n\n<blockquote style=\"margin: 1em 20px; padding: 10px; border: 3mm ridge #2200CC;\">\n<p style=\"font-size: 12pt; text-align: center;\"><b><span style=\"color: #ffc000; line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"font-family: arial;\">Factor Cost<\/span><\/span><\/b><\/p>\n<p style=\"font-size: 12pt; text-align: center;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"font-family: arial;\">+ Production taxes<\/span><\/span><\/p>\n<p style=\"font-size: 12pt; text-align: center;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"font-family: arial;\">\u2013 Production subsidy<\/span><\/span><\/p>\n<p style=\"font-size: 12pt; text-align: center; text-indent: 36pt;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"color: #ffa400; font-family: arial;\"><b>\u2193<\/b><\/span><\/span><\/p>\n<p style=\"font-size: 12pt; text-align: center;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"font-family: arial;\">=\u00a0<b><span style=\"color: #ffc000;\">Basic prices<\/span><\/b><\/span><\/span><\/p>\n<p style=\"font-size: 12pt; text-align: center;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"font-family: arial;\">+ Taxes on products excluding invoiced VAT<\/span><\/span><\/p>\n<p style=\"font-size: 12pt; text-align: center;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"font-family: arial;\">&#8211; Subsidies on products<\/span><\/span><\/p>\n<p style=\"font-size: 12pt; text-align: center; text-indent: 36pt;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"color: #ffa400; font-family: arial;\"><b>\u2193<\/b><\/span><\/span><\/p>\n<p style=\"font-size: 12pt; text-align: center;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"font-family: arial;\">=\u00a0<b><span style=\"color: #ffc000;\">Producers\u2019 prices<\/span><\/b><\/span><\/span><\/p>\n<p style=\"font-size: 12pt; text-align: center;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"font-family: arial;\">+ VAT not deductible by the purchaser<\/span><\/span><\/p>\n<p style=\"font-size: 12pt; text-align: center;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"font-family: arial;\">+Separately invoiced transport charges<\/span><\/span><\/p>\n<p style=\"font-size: 12pt; text-align: center;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"font-family: arial;\">+Wholesalers\u2019 and retailers\u2019 margins<\/span><\/span><\/p>\n<p style=\"font-size: 12pt; text-align: center; text-indent: 36pt;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"color: #ffa400; font-family: arial;\"><b>\u2193<\/b><\/span><\/span><\/p>\n<p style=\"font-size: 12pt; text-align: center;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"font-family: arial;\">=<b><span style=\"color: #ffc000;\">Purchasers\u2019 prices\u00a0<\/span><\/b>(or the price at which that product is being sold in the Market)\u00a0\u00a0<\/span><\/span><\/p>\n\n<div style=\"text-align: right;\"><\/div><\/blockquote>\n<p style=\"text-align: justify;\"><b><span style=\"color: #ffc000; line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"font-family: arial;\">\u00a0\u2022 N.B.<\/span><\/span><\/b><span style=\"font-family: arial;\">: Production taxes and subsidies are different from product taxes and subsidies.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: arial;\"><b><span style=\"color: #ffa400;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt; mso-themecolor: accent6;\">\u00a0<\/span><\/span><\/b><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: arial;\"><b><span style=\"color: #ffa400;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt; mso-themecolor: accent6;\">\u25a0\u00a0<\/span><span style=\"font-size: medium; line-height: 20.7px; mso-bidi-font-size: 12.0pt; mso-themecolor: accent6;\">Production taxes or subsidies:<\/span><\/span><\/b><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\">\u00a0These are paid or received with relation to production and are\u00a0<b><span style=\"color: red;\">independent of the volume of actual production<\/span><\/b>.<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"font-family: arial;\">Examples of production taxes: Stamp duty, Registration Fee, Land Revenues etc.<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"font-family: arial;\">Examples of production subsidies: Interest subsidies, Farm subsidies etc.<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: arial;\"><b><span style=\"color: #ffa400; line-height: 18.4px; mso-bidi-font-size: 12.0pt; mso-themecolor: accent6;\">\u25a0\u00a0<span style=\"font-size: medium;\">Product taxes or subsidies<\/span>:<\/span><\/b><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\">\u00a0These are paid or received on per unit product hence it is\u00a0<b><span style=\"color: red;\">dependent on volume of production<\/span><\/b>.<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"font-family: arial;\">Examples of Product taxes: Indirect taxes like Sales Tax, GST etc<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"line-height: 18.4px; mso-bidi-font-size: 12.0pt;\"><span style=\"font-family: arial;\">\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><b><span style=\"color: #ffa400; font-size: medium; mso-fareast-language: JA;\">\u25a0\u00a0<\/span><span style=\"color: #ffa400; font-size: medium; mso-fareast-language: JA;\"><a href=\"#CPI\" id=\"CPI\">Consumer Price Index (CPI)<\/a><\/span><\/b><b><span style=\"color: #ffa400; font-size: medium;\">:<\/span><\/b><\/p>\n<p style=\"text-align: justify;\">It is designed to measure the changes over time in general level of\u00a0<strong><em>retail prices<\/em><\/strong>\u00a0of selected goods and services (<strong>basket of commodities<\/strong>) that households purchase for the purpose of consumption.<\/p>\n<p style=\"text-align: justify;\">CPI measures price changes by comparing, through time, the cost of a fixed basket of commodities. The basket is based on the expenditures of a target population in a certain reference period. Since the basket contains commodities of unchanging or equivalent quantity and quality, the index reflects\u00a0<em><strong>only<\/strong><\/em>\u00a0pure price.<\/p>\n<p style=\"line-height: normal; margin-bottom: 0cm; text-align: justify;\"><span style=\"font-family: arial;\"><span style=\"font-size: 12pt; mso-fareast-language: JA;\">\u00a0<\/span><b><span style=\"color: #ffa400; font-size: 12pt; mso-fareast-language: JA;\">Uses:<\/span><\/b><\/span><\/p>\n\n<ul style=\"text-align: justify;\">\n \t<li><span style=\"font-family: arial; font-size: 12pt; mso-fareast-language: JA;\">as a\u00a0<b><span style=\"color: red;\">macroeconomic indicator<\/span><\/b>\u00a0of inflation.<\/span><\/li>\n \t<li><span style=\"font-family: arial; font-size: 12pt; mso-fareast-language: JA;\">as a tool by Government and Central Bank for targeting inflation and monitoring price stability.<\/span><\/li>\n \t<li><span style=\"font-family: arial; font-size: 12pt; mso-fareast-language: JA;\">as\u00a0<b><span style=\"color: red;\">deflators<\/span><\/b>\u00a0in the National Accounts.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-size: 12pt;\"><span style=\"font-family: arial;\">Given the many uses of CPIs, it is unlikely that one index can perform equally satisfactory in all applications. Therefore, there is a practice of compiling several CPI variants for specific purpose. These are:<\/span><\/span><\/p>\n\n<ul style=\"text-align: justify;\">\n \t<li><span style=\"font-family: arial;\"><span style=\"font-size: 12pt; mso-fareast-language: JA;\"><b>CPI for Industrial Workers (IW)<\/b><span style=\"color: red;\">\u00a0<\/span>&#8211;\u00a0<\/span><span style=\"font-size: x-small; mso-fareast-language: JA;\">Base Year 2016<\/span><span style=\"font-size: 12pt; mso-fareast-language: JA;\">;<\/span><\/span><\/li>\n \t<li><span style=\"font-family: arial; mso-fareast-language: JA;\"><b style=\"font-size: 12pt; mso-bidi-font-weight: normal;\">CPI for Agricultural Labourers (AL)<\/b><span style=\"font-size: 12pt;\">&#8211;<\/span><b style=\"font-size: 12pt; mso-bidi-font-weight: normal;\"><span style=\"color: red;\">\u00a0<\/span><\/b><span style=\"font-size: x-small;\">Base Year 1986-87<\/span><\/span><\/li>\n \t<li><span style=\"font-family: arial;\"><b><span style=\"font-size: 12pt; mso-fareast-language: JA;\">CPI for Rural Labourers (RL)<\/span><\/b><span style=\"font-size: 12pt; mso-fareast-language: JA;\">&#8211;\u00a0<\/span><span style=\"font-size: x-small; mso-fareast-language: JA;\">Base Year 1986-87<\/span><span style=\"font-size: 12pt; mso-fareast-language: JA;\">;<\/span><\/span><\/li>\n \t<li><span style=\"font-family: arial;\"><span style=\"font-size: 12pt; mso-fareast-language: JA;\"><b>CPI (Rural\/Urban\/combined)<\/b>\u00a0&#8211;<\/span><span style=\"font-size: x-small; mso-fareast-language: JA;\">\u00a0Base Year 2012<\/span><span style=\"font-size: 12pt; mso-fareast-language: JA;\">.<\/span><\/span><\/li>\n<\/ul>\n<p style=\"line-height: normal; margin-bottom: 0cm; text-align: justify;\"><span style=\"font-family: arial;\"><b><span style=\"color: #ffa400; font-size: 12pt; mso-fareast-language: JA;\">N.B<\/span><\/b><span style=\"font-size: 12pt; mso-fareast-language: JA;\"><span style=\"color: #ffa400;\">.<\/span>:<\/span><\/span><\/p>\n<p style=\"text-align: justify;\">The first three are compiled and released by the\u00a0<strong>Labour Bureau\u00a0<\/strong>in the<strong>\u00a0Ministry of Labour<\/strong>, while the fourth one is released by the\u00a0<strong>National Statistical Office<\/strong>\u00a0(<strong>NSO<\/strong>) in the\u00a0<strong>MoSPI<\/strong>.<\/p>\n<p style=\"text-align: justify;\">The all-India linked CPI for Urban Non-Manual Employees (UNME) has been discontinued w.e.f Jan 2011.<\/p>\n<p style=\"line-height: normal; margin-bottom: 0.0001pt; text-align: justify;\"><span style=\"font-family: arial;\"><b><span style=\"color: #ffa400; font-size: 13.5pt;\">\u25a0 Wholesale Price Index (WPI):<\/span><\/b><\/span><\/p>\n<p style=\"text-align: justify;\">It\u2019s a measure to monitor the dynamic movement of prices at the wholesale level.<\/p>\n<p style=\"text-align: justify;\">It comprises all possible transactions at\u00a0first point of bulk sale\u00a0in the\u00a0domestic market.<\/p>\n<p style=\"text-align: justify;\">WPI\u00a0tracks prices at the factory gate level, but it&#8217;s only for Goods and\u00a0<strong>does not include Services<\/strong>.<\/p>\n<p style=\"text-align: justify;\">It is compiled and released on monthly basis by the\u00a0<strong>Office of Economic Adviser<\/strong>, Department of Promotion of Industry and Internal Trade (DPIIT),\u00a0<strong>Ministry of Commerce &amp; Industry<\/strong>.<\/p>\n<p style=\"text-align: justify;\">The base year of All-India WPI is\u00a0<strong>2011-12<\/strong>\u00a0and it uses\u00a0<strong>697<\/strong>\u00a0items in the basket.<\/p>\n<p style=\"line-height: normal; margin-bottom: 0cm; text-align: justify;\"><span style=\"font-family: arial;\"><b><span style=\"color: #ffa400;\">Uses<\/span><\/b><span style=\"color: #ffa400;\">:<\/span><\/span><\/p>\n\n<ul style=\"text-align: justify;\">\n \t<li><span style=\"font-family: arial;\">Track the supply and demand dynamics in industry, manufacturing and construction.<\/span><\/li>\n \t<li><span style=\"font-family: arial;\">Used as a deflator of various nominal macroeconomic variables including GDP.<\/span><\/li>\n \t<li><span style=\"font-family: arial;\">Serve as an important determinant, in formulation of trade, fiscal and other economic policies by the Government.<\/span><\/li>\n \t<li><span style=\"font-family: arial;\">Also used for the purpose of indexation\/escalation clauses in the supply of raw materials, machinery and construction work.<\/span><\/li>\n<\/ul>\n<p style=\"line-height: normal; margin-bottom: 0cm; text-align: justify;\"><span style=\"font-family: arial;\">\u00a0<\/span><\/p>\n<p style=\"line-height: normal; margin-bottom: 0cm; text-align: justify;\"><span style=\"font-family: arial;\"><b><span style=\"color: #ffa400;\">\u00a0Components of WPI:<\/span><\/b><\/span><\/p>\n\n<ul style=\"text-align: justify;\">\n \t<li><strong>Primary articles\u00a0<\/strong>(Weight 22.62%).<\/li>\n \t<li><strong>Fuel &amp; Power<\/strong>\u00a0(Weight 13.15%)<\/li>\n \t<li><strong>Manufactured Goods<\/strong>\u00a0(<strong>Weight 64.23%<\/strong>)<\/li>\n \t<li><strong>WPI Food Index<\/strong> (Weight 24.38%)<\/li>\n<\/ul>\n\n<hr \/>\n\n<h4>References:<\/h4>\n<ul>\n \t<li>Bihar Economic Survey (2023-24) and previous years<\/li>\n \t<li>Directorate of Economics and Statistics, Government of Bihar<\/li>\n \t<li>Ministry of Statistics and Programme Implementation, Government of India<\/li>\n<\/ul>\n<style type=\"text\/css\" media=\"print\">\n    body::before {<br \/>    content: \"BPSC Exam Preparation\";<br \/>    font-size: 50px;<br \/>    position: fixed;<br \/>    top: 0;<br \/>    left: 0;<br \/>    width: 100%;<br \/>    height: 100%;<br \/>    display: flex;<br \/>    justify-content: center;<br \/>    align-items: center;<br \/>    flex-wrap: wrap;<br \/>    z-index: 1;<br \/>    color: #2200CC;<br \/>    transform: rotate(-45deg);<br \/>  }<br \/>  body * {<br \/>    visibility: hidden;<br \/>  }<br \/><\/style>\n<p style=\"text-align: center;\"><span style=\"font-size: medium; white-space: pre;\"> <span style=\"color: #ffa400; font-size: medium; white-space: pre;\">***<\/span><\/span><\/p>\n\n<\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Table of Contents Click here to read the new Bihar Economic Survey 2024-25.\u00a0 On 12 February 2024, Bihar&#8217;s Deputy Chief Minister Samrat Choudhary, who is also the Finance Minister\u00a0tabled the 18th Bihar Economic Survey. The presentation took place on the first day of the Bihar Legislative Assembly&#8217;s budget session after the address of Governor Rajendra [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[70],"tags":[81,87],"syllabus":[120],"class_list":["post-5406","post","type-post","status-publish","format-standard","hentry","category-gs2","tag-economy","tag-new","syllabus-indian-economy"],"acf":[],"_links":{"self":[{"href":"https:\/\/bpscexamprep.com\/hi\/wp-json\/wp\/v2\/posts\/5406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bpscexamprep.com\/hi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bpscexamprep.com\/hi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bpscexamprep.com\/hi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bpscexamprep.com\/hi\/wp-json\/wp\/v2\/comments?post=5406"}],"version-history":[{"count":0,"href":"https:\/\/bpscexamprep.com\/hi\/wp-json\/wp\/v2\/posts\/5406\/revisions"}],"wp:attachment":[{"href":"https:\/\/bpscexamprep.com\/hi\/wp-json\/wp\/v2\/media?parent=5406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bpscexamprep.com\/hi\/wp-json\/wp\/v2\/categories?post=5406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bpscexamprep.com\/hi\/wp-json\/wp\/v2\/tags?post=5406"},{"taxonomy":"syllabus","embeddable":true,"href":"https:\/\/bpscexamprep.com\/hi\/wp-json\/wp\/v2\/syllabus?post=5406"}],"curies":[{"name":"\u0921\u092c\u094d\u0932\u094d\u092f\u0942\u092a\u0940","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}