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Which one of the following is correct for Bihar's economy?
- a)The occupational structure of the economy is stagnant from above.
- b)The growth rate is one of the lowest in India at 2.5%
- c)Bihar produces mostly primary goods.
- d)More than one of the above
- e)None of the above
Correct answer is option 'D'. Can you explain this answer?
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Which one of the following is correct for Bihars economy?a)The occupat...
Occupational Structure of the Economy
- The occupational structure of Bihar's economy is stagnant from above, meaning that a large percentage of the population is employed in agriculture and allied activities. This has led to limited diversification in the economy and a lack of growth in other sectors.
Growth Rate
- Bihar has one of the lowest growth rates in India, currently standing at 2.5%. This slow growth rate can be attributed to various factors such as inadequate infrastructure, lack of skilled labor, and limited industrial development.
Production of Primary Goods
- Bihar primarily produces primary goods such as agricultural products, minerals, and basic manufacturing goods. The focus on primary goods production has limited the state's ability to move up the value chain and diversify its economy.
Overall Economic Scenario
- The combination of a stagnant occupational structure, low growth rate, and focus on primary goods production highlights the challenges faced by Bihar's economy. To drive economic growth and development, there is a need for diversification, investment in infrastructure, promotion of industries, and skill development initiatives.
- The occupational structure of Bihar's economy is stagnant from above, meaning that a large percentage of the population is employed in agriculture and allied activities. This has led to limited diversification in the economy and a lack of growth in other sectors.
Growth Rate
- Bihar has one of the lowest growth rates in India, currently standing at 2.5%. This slow growth rate can be attributed to various factors such as inadequate infrastructure, lack of skilled labor, and limited industrial development.
Production of Primary Goods
- Bihar primarily produces primary goods such as agricultural products, minerals, and basic manufacturing goods. The focus on primary goods production has limited the state's ability to move up the value chain and diversify its economy.
Overall Economic Scenario
- The combination of a stagnant occupational structure, low growth rate, and focus on primary goods production highlights the challenges faced by Bihar's economy. To drive economic growth and development, there is a need for diversification, investment in infrastructure, promotion of industries, and skill development initiatives.
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Which one of the following is correct for Bihars economy?a)The occupat...
The correct answer is D
Key PointsBihar’s Economy
- Bihar’s GSDP (at constant prices) grew by 2.5% in 2020-21, which is less than the growth rate of 7.4% in 2019-20. In 2020-21, the agriculture sector as well as the services sector registered a marginal contraction.
- Bihar’s growth rate in 2020-21 was higher than the growth in national GDP (which registered a negative growth of 6.6% in 2020-21). Hence statement 2 is incorrect.
- In 2020-21, at current prices, agriculture, manufacturing, and services sectors contributed to 24%, 15%, and 61% of the economy.
- The per capita GSDP of Bihar in 2020-21 (at current prices) was Rs 50,555; 2.6% higher than the corresponding figure in 2019-20.
- In comparison, per capita GDP at the national level was Rs 1,46,087 in 2020-21 (at current prices).
- Further, Bihar’s per capita GSDP in 2020-21 was the lowest among all states in the country.
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Which one of the following is correct for Bihars economy?a)The occupational structure of the economy is stagnant from above.b)The growth rate is one of the lowest in India at 2.5%c)Bihar produces mostly primary goods.d)More than one of the abovee)None of the aboveCorrect answer is option 'D'. Can you explain this answer?
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Which one of the following is correct for Bihars economy?a)The occupational structure of the economy is stagnant from above.b)The growth rate is one of the lowest in India at 2.5%c)Bihar produces mostly primary goods.d)More than one of the abovee)None of the aboveCorrect answer is option 'D'. Can you explain this answer? for BPSC (Bihar) 2024 is part of BPSC (Bihar) preparation. The Question and answers have been prepared according to the BPSC (Bihar) exam syllabus. Information about Which one of the following is correct for Bihars economy?a)The occupational structure of the economy is stagnant from above.b)The growth rate is one of the lowest in India at 2.5%c)Bihar produces mostly primary goods.d)More than one of the abovee)None of the aboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for BPSC (Bihar) 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which one of the following is correct for Bihars economy?a)The occupational structure of the economy is stagnant from above.b)The growth rate is one of the lowest in India at 2.5%c)Bihar produces mostly primary goods.d)More than one of the abovee)None of the aboveCorrect answer is option 'D'. Can you explain this answer?.
Which one of the following is correct for Bihars economy?a)The occupational structure of the economy is stagnant from above.b)The growth rate is one of the lowest in India at 2.5%c)Bihar produces mostly primary goods.d)More than one of the abovee)None of the aboveCorrect answer is option 'D'. Can you explain this answer? for BPSC (Bihar) 2024 is part of BPSC (Bihar) preparation. The Question and answers have been prepared according to the BPSC (Bihar) exam syllabus. Information about Which one of the following is correct for Bihars economy?a)The occupational structure of the economy is stagnant from above.b)The growth rate is one of the lowest in India at 2.5%c)Bihar produces mostly primary goods.d)More than one of the abovee)None of the aboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for BPSC (Bihar) 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which one of the following is correct for Bihars economy?a)The occupational structure of the economy is stagnant from above.b)The growth rate is one of the lowest in India at 2.5%c)Bihar produces mostly primary goods.d)More than one of the abovee)None of the aboveCorrect answer is option 'D'. Can you explain this answer?.
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