Bihar’s economy has witnessed remarkable growth, expanding over threefold from ₹2.47 lakh crore in 2011-12 to ₹8.54 lakh crore in 2023-24, as detailed in the Economic Survey 2024-25 presented during the Budget session of the Assembly.
The report highlights significant investment activities facilitated by the State Investment Promotion Board (SIPB), which received 3,752 proposals amounting to ₹75,293 crore. Of these, investments worth ₹8,464 crore have been realised across 769 units. By September 2024, the food processing sector alone attracted investments totalling ₹3,517 crore from 353 units. Additionally, ethanol production emerged as a key area with proposed investments of ₹30,747 crore accounting for 41% of all investment proposals.
Deputy Chief Minister and Finance Minister Samrat Choudhary noted that in 2023-24, the Bihar Public Service Commission (BPSC) opened applications for 4,29,015 posts. The government allocated ₹200.47 crore to support 40,099 entrepreneurs and provided seed funding of ₹15 crore to 1,706 startups. Furthermore, tourism saw a substantial boost with an influx of 8.21 crore visitors in 2023.
Between 2018-19 and 2022-23, agricultural productivity also improved significantly with milk production rising by 27.3% and egg production by 85%. Infrastructure development was emphasised through the construction of four expressways: Varanasi-Ranchi-Kolkata Expressway, Gorakhpur-Siligurhi Expressway, Patna-Purnia Expressway and Raxaul-Haldia Expressway.
The report also highlighted improvements in life expectancy within the state which increased from 65.8 years during 2006-10 to 69.5 years between 2016-20.
Summary of Key Points
- Economic Growth: Bihar’s economy expanded from ₹2.47 lakh crore in 2011-12 to ₹8.54 lakh crore in 2023-24.
- Investment Proposals: SIPB received proposals worth ₹75,293 crore; realised investments totalled ₹8,464 crore across 769 units.
- Sectoral Highlights:
- Food processing attracted ₹3,517 crore in investments.
- Ethanol production accounted for ₹30,747 crore or 41% of total proposals.
- Employment and Entrepreneurship:
- BPSC advertised for over four lakh job vacancies.
- The government spent ₹200.47 crore on entrepreneurial support and funded startups with seed money of ₹15 crore.
- Agricultural Productivity: Milk production increased by 27.3%, while egg production surged by 85%.
- Infrastructure Development: Four major expressways were under construction to enhance connectivity.
- Life Expectancy: Improved from 65.8 years (2006-10) to 69.5 years (2016-20).
- Tourism Growth: Tourist numbers reached a record high of 8.21 crore in 2023.
