PART-2
BIHAR ECONOMIC SURVEY- THE ENTERPRISE SECTOR:
NOTE: THE SOURCE OF DISCUSSION IS BASED ON BIHAR ECONOMIC SURVEY AND BUDGET
Bihar, a state with abundant physical and human resources, has enromous potential for industrialization. The state govt. has adopted several strategies for industrialization of the state. The state has developed agro- processing industries, based on its comparative advantages in the agricultural sector. Among the major agro based industries , dairy and sugar industries have performed perticularly well. industrialization is a strong driver for promoting growth and eradicating economic disparities across the countries across the region within the country. large population migrated towards urban centres, the remmitances from migrants have positive impact on consumption demands, but it fails to add the production capacity of the state economy. given the large size of working population, bihar would required a kind of industrialization largely based on labour intensive and also leads to large scale capital formation within the state, expanding the base of non agricultural economy. In bihar growth rate of secondary sector has been moderate. It implies that fluctuation in the growth of secondary sector contributes very marginally to the overall economic growth of the state. bihar's contribution of industrial sector in GSVA is 20%.
some crucial indicators to judge the relative size and scale of operation of industries in india and bihar are- the amount of fixed capitals, amount of working capital, number of imployees, value of out put and net value added. On average, a factory in bihar employees only 40 workers which almost half of all india average(76.6 workers).
The low productivity of labour, as previously mentioned, also leads to lower level of compensation to workers in bihar. The industrial sector in bihar has been historically suffering from low investments , however, careful policy formation and institutional intervention by the state govt. has been instrumental in improving in investment climate.
Sugarcane based industries, dairy industries, fish industries, handloom and powerloom, sericulture- three type of silk cultivated in bihar- mulberry, tasar, castor or eri, except tasar , mulberry and cacoon production declined, hence raw silk production has also declined significantly in 2018-19. To improve performance, state govt. constructed a mulberry reeling bhawan in KISHANGANJ and khadi village industries.
Bihar, a state with abundant physical and human resources, has enromous potential for industrialization. The state govt. has adopted several strategies for industrialization of the state. The state has developed agro- processing industries, based on its comparative advantages in the agricultural sector. Among the major agro based industries , dairy and sugar industries have performed perticularly well. industrialization is a strong driver for promoting growth and eradicating economic disparities across the countries across the region within the country. large population migrated towards urban centres, the remmitances from migrants have positive impact on consumption demands, but it fails to add the production capacity of the state economy. given the large size of working population, bihar would required a kind of industrialization largely based on labour intensive and also leads to large scale capital formation within the state, expanding the base of non agricultural economy. In bihar growth rate of secondary sector has been moderate. It implies that fluctuation in the growth of secondary sector contributes very marginally to the overall economic growth of the state. bihar's contribution of industrial sector in GSVA is 20%.
some crucial indicators to judge the relative size and scale of operation of industries in india and bihar are- the amount of fixed capitals, amount of working capital, number of imployees, value of out put and net value added. On average, a factory in bihar employees only 40 workers which almost half of all india average(76.6 workers).
The low productivity of labour, as previously mentioned, also leads to lower level of compensation to workers in bihar. The industrial sector in bihar has been historically suffering from low investments , however, careful policy formation and institutional intervention by the state govt. has been instrumental in improving in investment climate.
Sugarcane based industries, dairy industries, fish industries, handloom and powerloom, sericulture- three type of silk cultivated in bihar- mulberry, tasar, castor or eri, except tasar , mulberry and cacoon production declined, hence raw silk production has also declined significantly in 2018-19. To improve performance, state govt. constructed a mulberry reeling bhawan in KISHANGANJ and khadi village industries.
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