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Gujarat economy grows twice as fast as Indias - India - DNA
Gujarat economy grows twice as fast as India’s
It's official now. There is no economic slowdown in Gujarat. According to a government report, in 2009-10 the state registered 12.99% Gross State Domestic Product (GSDP) growth, which is more than the target of 11.2% set by the Planning Commission under the 11th Five-Year Plan (2007-12).
It's official now. There is no economic slowdown in Gujarat. According to a government report, in 2009-10 the state registered 12.99% Gross State Domestic Product (GSDP) growth, which is more than the target of 11.2% set by the Planning Commission under the 11th Five-Year Plan (2007-12).
In fact, as Union finance minister announced in the budget on Friday, India’s likely GDP growth in 2009-10 is 7.2%. As for Gujarat, encouraged by its GSDP, the state now plans to achieve 14% and 15% growth in 2010-11 and 2011-12 respectively.
"The state has a target to achieve 11.2% growth during the 11th Five-Year Plan, as against 9% set for the nation. The state's economy at current prices has recorded an annualised growth rate of 15.04 % for the past six years (2004-05 to 2009-10), one of the highest in the country.
GSDP at current prices in 2009-10 is estimated at Rs3,81,028 crore as against Rs3,37,217 crore in 2008-09, showing an increase of 13 per cent," the state government's statement under the Gujarat Fiscal Responsibility Act (GFRA), 2005, for 2009-10 says.
"It can be observed that while there was a slight decline in GSDP growth during 2008-09, in keeping with the recessionary pressure felt by the Indian economy due to global financial crisis, the state's economy has been quick to rebound in 2009-10 and continues to maintain its high growth trajectory."
The statement further noted that in 2008-09, the shares of primary, secondary and tertiary sectors in the total GSDP growth were 17.76%, 41.05% and 41.19% respectively. The shares of these sectors in the base year 1999-2000 were 18.62%, 39.21% and 42.17% respectively. "This is indicative of a balanced growth of the economy."
"With the resumption of growth process, it is expected that in the next two years of the current Five-Year Plan, the state would accelerate its growth rate to 14% and 15% respectively," the report says.
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US report: Gujarat best example of governance, development
Agencies
Identifying Gujarat as perhaps the best example of effective governance and impressive development in India, a Congressional report showered praise on Chief Minister Narendra Modi and said the state under him has become a key driver of national economic growth.
Gujarat, is followed by Bihar and its Chief Minister Nitish Kumar, for his governance and administrative skills, the latest report of the Congressional Research Service (CRS) on India said.
“Perhaps India's best example of effective governance and impressive development is found in Gujarat, where controversial Chief Minister Narendra Modi has streamlined economic processes, removing red tape and curtailing corruption in ways that have made the state a key driver of national economic growth,” said the CRS report.
An independent and bipartisan wing of the US Congress, the CRS, prepares periodic reports on issues of interest to US lawmakers.
The 94-page report was released by the CRS for US lawmakers on September 1, a copy of which was made public by the Federation of American Scientists.
“Seeking to overcome the taint of his alleged complicity in 2002 riots, Modi has overseen heavy investment in modern roads and power infrastructure, and annual growth of more than 11 per cent in recent years,” the CRS said.
Gujarat, the CRS said, has attracted major international investors such as General Motors and Mitsubishi and with only five per cent of the country's population, the state now accounts for more than one-fifth of India's exports, it said.
The CRS mentions Bihar after Gujarat in good governance.
“Another positive example in 2011 has been Bihar, one of India's poorest states, where Chief Minister Nitish Kumar has won national attention through his considerable success in emphasising good governance over caste-based politics.
“He is credited with restoring law and order across much of the state, as well as overseeing infrastructure and educational improvements of direct benefit to common citizens projects,” the report said.
“Kumar's Janata Dal (United) party, in alliance with the main national opposition BJP, won an overwhelming reelection majority in November 2010 state elections,” the report said.
The examples set in by Chief Ministers Modi and Kumar may have inspired the popular leader of India's most populous state Uttar Pradesh.
“Chief Minister Mayawati, who is widely believed to maintain national political ambitions and was at the forefront of a nascent 'Third Front' in 2009, has shifted her own focus much more toward infrastructure projects such as road-building and improving the state's poor energy grid,” the report said.
The CRS also refers to the ongoing Telangana movement in Andhra Pradesh, and the new Trinamool-Congress rule in West Bengal.
US report: Gujarat best example of governance, development - Financial Express Mobile
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