Tag: annualised growth rate of real GDP

Statistics show Bengal growing faster than other States: WB FM

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West Bengal Finance and Industry Minister Dr Amit Mitra laid forth several macroeconomic statistics that highlight the current developmental progress of the State.

He was speaking at the celebration of Bengal Day at the International Trade Fair in Delhi.

Dr Mitra said that according to NSO’s reports prepared with a base of the 2004-05 GDP, in 2014-15 West Bengal has elevated herself from many of the States.

According to Central Government figures, the rate of growth of GDP in Maharashtra being 5.66%, that of Rajasthan being 5.75%, Uttar Pradesh being 6%, Telengana being 5.35%, Karnataka being 7.05% and Punjab being 5.32%, West Bengal registered a growth of 7.15%.

In case of industrial growth, West Bengal is ahead than many of the States. The rate of growth being 4.36% in Karnataka, 4.01% in Maharashtra, 2.02% in Punjab, 3% in Rajasthan and 3.64% in Tamil Nadu, Bengal has an industrial growth rate of 5.05%.

The West Bengal Finance Minister informed that the developmental growth has been made possible in spite of the loan of Rs 87,000 crores made from the market in the last four years. He also stressed on the point that Rs 82,000 crores have been spent by the State to repay loan and interest made by the past Left Government.

The State Finance Minister stated that prior to 2011, there was only 50% electrification covering the households of the state and within four years 93% households could be provided with power supply.

He also stated that for irrigation purpose, prior to 2011, 1.10 lakh electric pump sets were used, the number of which rose to 2.65 lakh by 2015. He also stated that Bengal has instituted the Integrated Financial Management System, which no other State could yet implement.

Study: Kolkata’s economic performance better than other major cities in India

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Kolkata ranks 32 in performance among 300 world cities in the annual 2014 economic rankings of cities worldwide conducted by the Brookings Institution and JPMorgan Chase. It has left behind Mumbai, Hyderabad, Bengaluru and Chennai. The only better ranked city of India in the report is Delhi.

A study was conducted of world’s largest 300 cities, which accounted for almost half of global output in 2014. The report is based on two key economic indicators- annualised growth rate of real GDP per capita and annualised growth rate of employment. These indicators were combined into an economic performance index and the metros were ranked.

For India, 5 leading cities viz Delhi, Kolkata, Mumbai, Bengaluru, Chennai and Hyderabad were considered for the study. Except for Delhi, all cities are ranked below Kolkata.

  • Kolkata has been ranked at 32 out of the 300 cities.
  • The rank for other cities in India are – Delhi (18), Mumbai (52), Chennai (57) ,Hyderabad  (76), and Bengaluru (87).
  • Kolkata: The annualised growth rate of real GDP for 2013-14 is 2.5% and annualised growth rate of employment is 4.7%.

 

City ranking

 

The table above shows the results of the study of Global Metro Monitor 2014 in respect of the 6 Indian cities.

The study commented, “These indicators matter because they reflect the importance that people and policymakers attach to achieving rising incomes and standards of living and generating widespread labour market opportunity.”