Patna, Feb. 13: The advance estimates for growth percentage of gross state domestic product (GSDP) for Bihar suggest the economy will grow at a rate of 10.5 per cent in 2010-11 at fixed price. The base year for calculation of growth rate at fixed price is 2004-05.

The state statistical directorate conducts the advance estimation work on behalf of the central statistical office (CSO). While doing this exercise, actual data from April to December and projections for the remaining three months of the financial year (January to March) are taken into account.

Going by the records of the past two fiscal years and the advance estimate for the growth rate of gross domestic product (GDP) of the country for the current fiscal (2010-11), Bihar has fared better than the national growth rate of GDP, third time on a trot.

“Going by the advanced estimates, the GSDP of Bihar would be worth Rs 1,34,323.10 crore at fixed price in 2010-11,” joint director of state statistical directorate Jitendra Kumar Sinha told The Telegraph. GSDP of Bihar at fixed price was worth Rs 1,21,567 crore in 2009-10.

The icing on the cake, as far as the GSDP growth rate is concerned, is the fact that the primary sector, which consists of agriculture, forestry, fishery, mining and quarrying sectors, and on which about 75 per cent of the state population (8.29 crore) depends, has registered a growth rate of 8.85 per cent after recording a negative growth of 9.76 per cent a year earlier.

“Though Bihar faced droughts for the second consecutive year, yet the primary sector registered growth because of a robust crop of mango,” Sinha said, while giving an insight into this growth rate.

The primary sector was worth Rs 29,370 crore in 2008-09 but it shrunk to Rs 26,530 crore in 2009-10. Going by the advance estimates on fixed price for 2010-11, the primary sector would be worth Rs 28,879 crore.

In case of secondary sector, comprising sectors like manufacturing, construction, electricity, gas and water supply, the GSDP is likely to grow at the rate of 4.64 per cent, which is lower than the growth rate of the previous fiscal. In 2009-10, the secondary sector has recorded a growth rate of 5.57 per cent.

In case of tertiary sector, comprising transport and communication, banking and insurance, real estate, hotel and restaurant sectors, the estimate says the growth rate at fixed price would be 12.5 per cent in 2010-11. This again is less than the growth rate (17.63 per cent) recorded in 2009-10.

Terming it the growth rate a very creditable achievement, economist N.K. Choudhary said: “Bihar would not only to have to maintain but accelerate this growth rate in the next five years if it aspires to join the league of developed states in the country.