Recovering steadily from the effects of Covid-19 and related economic meltdown, Jharkhand is now witnessing a stable economic growth. The GSDP of the state has grown at an average annual rate of 7.7 per cent at constant prices during the last three years (between 2021-22 and 2023-24). It will grow by 6.7 per cent in the current financial year (2024-25) and by 7.5 per cent at constant prices in the next financial year (2025-26), according to the Jharkhand Economic Survey report tabled in the State Legislative Assembly here on Friday.
As per the survey report the GSDP of Jharkhand, which was about Rs. 1,50,918 crores in the year 2011-12, the base year of the current series of national accounts statistics, is estimated to double at constant prices and more than three times at current prices by the end of this financial year (2024-25).
The GSDP at constant prices of the State thus is estimated to be Rs. 3,04,165 crores at constant prices and Rs. 5.06,356 crores at current prices in the year 2024-25 and Rs.3,26,941 crores at constant prices and Rs. 5.56.286 crores at current prices in the year 2025-26, stated the report.
The GSDP of Jharkhand as a percentage of the national GDP has improved in the last five years. The GSDP at constant prices of the state was 1.59 per cent of the real GDP of the country in the year 2919-20, which increased to 1.64 per cent in the year 2023-24. The nominal GSDP of the state as a percentage of the nominal GDP of the country has also improved from 1.54 per cent in the year 2019-20 1.56 per cent in the year 2023-24.
The report suggests that the growth rate of Jharkhand has mostly been higher than that of the country in last five years
The per capita income of the state was Rs. 51,464 at constant prices and Rs. 69963 at current prices in the year 2020-21. By the year 2022-23, they became Rs. 60.033 at constant prices and Rs. 91874 at current prices. The per capita income of the state is estimated to be Rs. 63443 at constant prices and Rs. 95649 at the current prices in the year 2023-24 and Rs. 67347 at constant prices and Rs. 107027 at current prices in the year 20024-25
The per capita income of the state is estimated to be Rs. 68,612 at constant prices and Rs. 1,14,271 at current prices in the year 2024-25 and Rs.72,836 at constant prices and Rs. 1,24,079 at current prices in the year 2025-26.
According to the report the rate of inflation in Jharkhand has mostly remained within the targeted rate of 6 per cent since the last one year. In the financial year 2023-24 the average rate of inflation in the state was 5.7 per cent and this year (April 2024 to October 2004) it is 4 per cent
The rate of inflation in Jharkhand has mostly remained less than that of the country. Only in six out of 19 months between April 2023 and October 2024, the rate of inflation in Jharkhand had exceeded that of the country and remained less than that of the country in the remaining 13 months. In all the seven months of the current financial year (April 24 to October 24), the rate of inflation in Jharkhand remained less than that of the country.
