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Economic Development of India. The CSO provides us the data of the economic growth of the states where a clear evidence of the emergence of the chronically poor states to the development is eminent. In the past the richest states often grew fastest and t

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ECONOMICS ASSIGNMENT-1 ON ECONOMIC DEVELOPMENT OF INDIA Submitted To: Submitted By: Prof. Mansi Gore Gunjan Banerjee PGDM- D Roll No.- 2803448 Introduction The 12th largest economy in the world in terms of the market exchange rate, the Indian economy has come a long way to become one of the fastest growing economies. India has achieved an annual growth in GDP in the five years 2004-05 to 2008-09. India records a growth rate in terms of Gross Domestic Product of 8.49% per year since 2004-2009. The growth rate increased due to the improved productivity and growth in states. The CSO provides us the data of the economic growth of the states where a clear evidence of the emergence of the chronically poor states to the development is eminent. In the past the richest states often grew fastest and the poor ones the slowest. But it is not the case anymore. The accompanying table shows that poor states are no longer clustered at the bottom of the growth of the growth league; they occupy several positions high up. Some of the poorest states; Bihar, Orissa, Jharkhand, Chhattisgarh and Uttar Pradesh are now in the verge of growth with Gross State Domestic Product of 11.03%, 8.74%, 8.45%, 7.35% and 6.29% respectively on an annual basis. ...read more.


Mumbai remains it position to be called as the commercial capital of the country and more than 50% stock transactions happen here. Now when we see the development around Gujarat we find that it accounts for16% of the India's total investment. The state mainly aims in the manufacturing sector, exports and stock market capitalization. There is a high level of industrialization in this state which accounts to US $ 30 billion. Development Activities (State wise) Bihar Bihar was one of the economically backward state before 2000 but in the recent past it has documented a growth of 11.44% in the year 2008-09. The per capita income being $148. The GSDP showed an increase when the global financial state was declining. The economy of Bihar is mainly service oriented and depends also in agriculture. 35% is contribution from the agricultural sector, 55% by the service sector and the remaining and the rest is contributed by the industrial sector. Bihar has tremendous resources and their utilization in the interest of its growing population has to be the supreme responsibility of both the state administration and the national planners. Reliance Industry is given the opportunity for their investment in Bihar. Lot of industrialization is taking place in this state economy. ...read more.


Madhya Pradesh MP is a diverse state rich in culture and government is now taking suitable steps to tap the same. The Government has initiated several programmes under the auspices of Tribal Welfare Department for the upliftment of the downtrodden with special emphasis on economic upliftment of tribal population since it constitutes to 20% of the state's population. It has a showed a growth rate of 8.8% for the year 2009 basic drivers of which were 'services' and 'manufacturing'. Conclusion We find that the development of Bihar has outdone and growth of Gujarat. It is going neck to neck with the economic development of that of Gujarat. It has emerged as a miracle economy in the period of 2004 to 2009. Therefore we can say "The poor states are poor states are no longer clustered at the bottom of the growth." The other poor states have also joined the economic development and growth in GDP. The situation has changed for the betterment now and certainly, the name BIMARU would not hold good anymore for the states: Bihar, Orissa and Jharkhand. The rest of the so called poor states are almost reaching the optimum level. Therefore all round development is going on in the Indian economy and in this the disparities of income will be removed. ?? ?? ?? ?? Managerial Economics Indian Economy 1 ...read more.

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