Jharkhand is a newly formed state that was carved out of the state of Bihar. It came into being in November 2000. Since then, it is making rapid strides in terms of economic progress. In 2004, Jharkhand's GDP was estimated at $14billion. The population of Jharkhand is about 26.90 million and the sex ratio is 941 females to 1000 males. The tribal population accounts for about 28 percent of the state. 40 percent of the country's mineral reserves are from Jharkhand. It is the only Indian state to produce uranium, cooking coal and pyrite, and the state heads the production of coal, copper, kyanite and mica in India. The chief mineral resources of the state include iron ore, coal, mica, limestone, manganese, mica, copper ore among others. They form the pivot of the business and economy of Jharkhand. As Jharkhand is a mineral rich state, it is teeming with industries which range from coal mines to the most important private sector owned steel plant in the country. Besides the Tata Steel plant, Jharkhand also has the largest steel plant in Asia, known as the Bokaro Steel Plant. Mineral based manufacturing industry is the mainstay of Jharkhand's economy. Besides that, agriculture also plays an important role in the business and economy of Jharkhand. In fact, despite being mineral-rich, 80 percent of Jharkhand's population resides in villages and they depend primarily on agriculture and other associated activities for their livelihood. The principal foodgrains of Jharkhand are wheat, paddy, maize and pulses. Varied agricultural economy also supports a host of agro-based industries in the state that includes food processing. Just within a period of three years, the state has graduated from a vegetable procuring state to a 100,000 tonnes vegetable surplus state. The soil as well as the climatic conditions of the state is favourable for the growth of mushroom, tea, ornamental plants and spices. Favourable agro-climatic conditions also facilitate the year-round production of various types of off-season vegetables and fruits, which also reflects favorably on the agriculture of Jharkhand. Besides industries, Jharkhand is also rich in forests, woodlands, energy reserves and fertile land. This makes Jharkhand a potentially independent state. However, though being a potentially rich state, it is facing some teething problems towards its development, which largely pertains to infrastructural lacunae. The state government of Jharkhand is endeavouring to launch ambitious programmes to increase agricultural production, through rainwater harvesting, supply of agricultural implements and better quality of seeds. Access of some of the basic facilities such as potable water, road, steady power supply and educational facilities to the multitude of the state's population, are proving to be daunting challenges. The state has a number of prosperous industrial cities like Dhanbad, Jamsedhpur, Bokaro, etc. but the large parts of rural Jharkhand are still reeling under poverty. However, there are many opportunities in the state in the field of geological exploration, power generation, as well as in mining of silver, gold, other base metals and many of the precious stones, which need to be properly harnessed to make the business and economy of Jharkhand a prosperous one. Although Jharkhand is a new State, it is steadily heading towards industrial and economic growth. Jharkhand State is endowed with abundant natural resources like land, minerals, water and forests. Actually, 40% of minerals in India are found in Jharkhand! These are also exported to Saudi Arabia, Nepal, Bangladesh and South Africa etc. Economy of this State is dependant primarily on following major sectors:
Industries of Jharkhand
The Iron and Steel factory at Jamshedpur and the Bokaro Steel Plant are the largest plants in Asia. The biggest explosives factory is at Gomia. Due to its proximity to ports, Jharkhand has a logistical advantage too. The Jharkhand Government has planned to...
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