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Economic Scenario (Bihar)

📆 October 26, 2024

Total Questions: 32

1. The contribution of agricultural and allied sectors in the Gross State Value Added (GSVA) of Bihar state was ______ in the financial year 2017-18. [66ᵗʰ B.P.S.C. (Re. Exam) 2020]

Correct Answer: (e) None of the above/More than one of the above
Solution:
  • The contribution of agricultural and allied sectors to the Bihar's Gross State Value Added (GSVA) was 21 percent in 2017-18 and the share of crop sector in GSVA was 12.1 percent. With an annual average growth rate of about 5 percent during the last five years (2017-18 to 2021-22), agricultural sector presently provides about 20 percent of Gross State Value Addition (GSVA) in Bihar. According to Bihar Economic Survey 2023-24, the contribution of agricultural and allied sector to the Bihar's Gross State Value Added (GSVA) was 19.85 percent in 2022-23 (Q).

2. What was the growth rate of Bihar economy at constant prices in the year 2018-19? [66ᵗʰ B.P.S.C. (Re. Exam) 2020]

Correct Answer: (d) 10.53%
Solution:
  • Bihar has experienced consistent socio-economic development over the last decade, despite limited availability of financial resources. According to Economic Survey of Bihar 2019-20 the growth rate of Bihar's economy in 2018-19 was 10.53 percent (at constant prices) and 15.01 percent (at current prices). According to the Economic Survey of Bihar 2023-24 gross State Domestic Product (GSDP) at constant prices recorded a robust growth of 10.6 percent in 2022-23 compared to 8.5 percent in 2021-22.

3. The fiscal deficit is expected to be of GSDP of Bihar for the financial year 2022-23. [67ᵗʰ B.P.S.C. (Pre) 2021]

Correct Answer: (c) 3.47%
Solution:
  • As per the Bihar Budget Estimates, 2022-23, the fiscal deficit for the financial year 2022-23 (Rs. 25885.11 crore) is 3.47 percent of Bihar's G.S.D.P. (Rs. 745310 crore). Bihar Budget estimates 2024-25, The fiscal deficit for the financial year 2024-25 is 2.98 percent of Bihar's GSDP.

4. Nearly 55 percent of the total population of Bihar survive in absolute poverty because: [47ᵗʰ B.P.S.C. (Pre) 2005]

I. Bihar lacks in natural resources, both existing and potential.
II. Bihar has the fastest total fertility rate in India.
III. Bihar has very unfavorable agro-climatic conditions.
IV. Bihar lacks in quality infrastructure and business friendly environment.

Which of these reasons are correct?

Correct Answer: (a) I and II
Solution:
  • After the bifurcation of the state of Bihar, all the natural resources of the state transferred Jharkhand. Thus, the state lacked in the present and possible natural resources. According to the Bihar Economic Survey, 2023-24 total fertility rate (children per women) in Bihar is 3.0 which is one of the highest in India.

5. Which state has the lowest per capita income in India at the current price? [47ᵗʰ B.P.S.C. (Pre) 2005]

Correct Answer: (a) Bihar
Solution:Per capita income of Bihar in 2002-03 was 6634 rupees which was lowest among all Indian state. According to Bihar Economic Survey 2023-24, Bihar's per capita income in 2022-23 (Q), as constant and current price respectively is Rs. 35,119 and Rs. 59,637.

6. The per capita Net State Domestic Product at constant prices for Bihar is less than the country. In the year 2018-19, it was [66ᵗʰ B.P.S.C. (Pre) 2020]

Correct Answer: (d) 33 percent of the national average
Solution:Bihar's per capita Net State Domestic Product at constant price was 30,617 for the year 2018-19 compared to the country's NDP which was 92,565 in the same time period. It is 33.1 percent of the national average. According to Bihar Economic Survey 2023-24, Bihar's per Capita Net State Domestic Product at constant price was Rs. 28,679. For the year 2021-22 (P) compared to the country's NDP which was Rs. 92,583 in the same period. It was 39.98 percent (2022-23 Q - 31.8 Percent) of the national average.

7. The fiscal deficit in Bihar during 2021-22 is estimated as [67ᵗʰ B.P.S.C. (Pre) 2021]

Correct Answer: (a) 22,511 crores
Solution:Fiscal deficit in 2021-22 is estimated to be Rs 22,511 crore (2.97% of GSDP). As per revised estimates, in 2020-21, fiscal deficit is estimated to be 6.77% of GSDP, which is significantly higher than the budget estimate of 2.97% of GSDP. As per the Bihar Budget Estimates, 2024-25, fiscal deficit is 29,095 crore (2.98% of GSDP).

8. The percentage share of Agricultural labour in total workers of Bihar is – [47ᵗʰ B.P.S.C. (Pre) 2005]

Correct Answer: (b) 48.18
Solution:As per Census 2001, labour force participation rate in India was 39.1% while in Bihar it was 33.7 percent. Agricultural labourers constituted about 48 percent of the total labour force in Bihar. According to Census 2011, the participation of agricultural labourers in the total labour force was 52.8%. According to Bihar Economic Survey 2023-24, 48.6 percent people in Bihar are employed in the Primary Sector.

9. What is the percentage of population in Bihar State employed in agriculture sector in 2017-18? [B.P.S.C. (Pre) 2018]

Correct Answer: (e) None of the above/More than one of the above
Solution:Nearly 77% population of Bihar is employed in agriculture sector, which is far more than the national average. According to the Economic Survey of Bihar, 2023-24, in Bihar 41.1% of male workers and 76.5% of female workers are engaged in the primary sector.

10. 'Bihar Economic Survey', for the first time, was published for the Financial Year [B.P.S.C. (Pre) 2018]

Correct Answer: (b) 2006-07
Solution:'Bihar Economic Survey' was published for the first time during Financial year 2006-07.
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