Latest update: February, 2016
Bihar is one of the fastest growing states in India. The economy of Bihar is projected to grow at a compound annual growth rate (CAGR) of 13.4% during 2012-2017 i.e. the 12th Five-Year Plan. Bihar has witnessed strong growth in per capita net state domestic product (NSDP). At current prices, per capita NSDP of the state grew at a CAGR of 12.91 per cent during 2004-05 to 2014-15.
Bihar is the largest producer of vegetables and the second-largest producer of fruits in
India. Bihar has high agricultural production making it one of the strongest sectors of the state. About 80 per cent of the state’s population is employed in agriculture, which is much higher as compared to India’s average.
The state has a large base of cost-effective industrial labour, making it an ideal destination for a wide range of industries. The state enjoys a unique location specific advantage because of its proximity to the vast markets of eastern and northern India, access to ports such as Kolkata and Haldia and to raw material sources and mineral reserves from the neighbouring states.
Major initiatives taken by the government to develop Bihar are:
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