Ranchi: The performance of the industrial sector in Jharkhand has remained poor mainly because of very low growth in manufacturing, especially in registered manufacturing and in electricity, gas and water supply, says the Economic Survey of the state. The survey was tabled in the state assembly on Thursday.
“The industrial sector has mostly lagged behind. In the last 11 years, 2004 to 2015-16, this sector grew at an average rate of 4.42 percent on year to year basis and 3.8 percent on Compound Annual Growth rate (CAGR),” the survey report said.
“During 4 out of 11 years, the growth in this sector remained negative. The hyper growth of 2007-08 and 2010-11 (when this sector grew by 34 percent and 21 percent respectively), is not considered, the overall growth in this sector will remain negative. In last four years, this sector has slightly improved its performance,” says the report.
“The CAGR in these four years 2012-13 to 2015-16 has been 5.1 percent,” the report further said, adding: “The share of industry has declined from 52 percent in 2004-05 to 35 percent in 2015-16.”
The manufacturing sector experienced a negative 0.86 percent and registered manufacturing minus 2.79 percent CAGR between 2004-05 and 2015-16.
The outputs of manufacturing and registered manufacturing sectors, this year also have declined by 0.11 percent and 2.8 percent respectively from those of last year.
The unregistered manufacturing, however, has made steady growth in this period, especially in the first four years of the 12th five year plan (2012-13 to 2015-16).
Within industrial sector, mining and quarrying and construction have made impressive progress.
These two sub-sectors grew at annual rate of 8.39 percent and 9.34 percent respectively in the last 11 years.