MP towards 12 per cent growth rate

By Muslim Saleem

Bhopal, July 1, 2012

The year 2011-12 is going to be a watershed in the economic growth history of Madhya Pradesh as revised estimates have put the economic growth rate during the period at 12 per cent. This has become possible due to able leadership of Chief Minister Mr Shivraj Singh Chouhan, reports SMS News & Features.

The State has also posted an exceptionally high 18 per cent agricultural growth rate. This may be attributed to the well-contemplated and committed efforts made by the state government to make agriculture a lucrative proposition, claimed the government.

Madhya Pradesh clocked close to 17 per cent in manufacturing and 8 per cent in industrial growth. In Madhya Pradesh, the contribution of industrial sector to GDP has increased to 29 per cent. This has opened up new vistas of development in the State. The prospects of augmenting job opportunities and higher capital investment have also been brightened.

It may be mentioned that in last four years Madhya Pradesh has stood third in terms of growth. Besides, during the last four years, the state's growth rate has been above the All India average growth rate.

In contrast, Madhya Pradesh witnessed negative growth twice prior to 2004-05. In 2000-01, the state had -7 per cent growth rate and in 2002-03 it was -4 per cent. The state's growth rate in 2004-05 was a mere 3 per cent.

Over the last seven-eight years, Madhya Pradesh has been able to make these creditable achievements in growth against various odds. Except two years the rainfall had been less than average in the last seven years.

In 2009 it was 35 per cent less than average and in 2010 it was 26 per cent less than average. The widespread frost in 2010-11 adversely impacted farm output in the state. Despite this, Madhya Pradesh registered about 10 per cent growth rate in 2009-10 and close to 8 per cent in 2010-11. Madhya Pradesh never had less than five per cent growth rate in any year since year 2004-05.