MP second among BIMARU states in industrial growth

BHOPAL: Madhya Pradesh trails next to Bihar in industrial sector growth in the decade between 2004-05 and 2012-13. MP ranked second with about 9% growth rate as against about 14% clocked by Bihar, amid BIMARU states according to an ASSOCHAM study released on Tuesday.
Besides, industrial sector's share in MP's economy marginally increased from 27 % in 2004-05 to about 28 % as of 2012-13, noted the study titled 'Analysis of BIMARU states,' conducted by ASSOCHAM Economic Research Bureau (AERB).
Also MP has proven to be a laggard in terms of services sector growth, which at 9.6% was though at par with national average but the state ranked behind Bihar (10.1%) and Rajasthan (9.7%) according to the study.
Registering a compounded annual growth rate CAGR of 8.8% in terms of gross state domestic product (GSDP), MP ranked second only to Bihar amid the traditional BIMARU states between 2004-05 and 2012-13 followed by Rajasthan (8.2%) even as India's overall gross domestic product (GDP) grew at 8 % during the period.
Clocking a CAGR) of 7% the decade , Madhya Pradesh has registered highest growth rate in agriculture and allied sectors amid BIMARU states according to an ASSOCHAM study released on Tuesday.
The state registered almost double the national average growth rate of 3.7% in the sector
"Agriculture and allied activities' account for almost one-fourth (24.2%) of Madhya Pradesh's economy as of 2012-13, however the sector's share has fallen from about 28% in this regard as of 2004-05," it added.
MP has also ranked second in terms of per-capita income growth with a rate of about 7% while Bihar has also attained top spot with the highest growth rate of about 7.6 % thereby leaving behind all-India per-capita income growth rate of 6.2 % and other BIMARU states - Rajasthan (6.1 %) and UP (4.8 %).
Interestingly, while about 49 % of the total population was below poverty line in MP in 2004-05, it had reduced to 32 % in 2011-12.
Considering that MP has recorded slow growth rate of about 4.5 % in road infrastructure development in both rural and urban areas during 2006-07 and 2010-11, ASSOCHAM study has suggested that there is a need to perk up road network across the state to facilitate easy and efficient movement of marketable surplus to consumption centres and promote agro business .
"A robust road network would facilitate better goods distribution and promote market development," said D S Rawat, national secretary general of ASSOCHAM.
MP has recorded highest share of about 8 % out of the total 20 % share of all BIMARU states in new investments attracted by power sector across India.
Though MP has registered good improvement in infant mortality rate during 2001-2010, ASSOCHAM study has suggested for an urgent need to improve healthcare system .
On the basis of findings of its study, ASSOCHAM has suggested the government in MP to improve the overall industrial scenario .