A Macroeconomic Analysis of Trends in Industrial Sector Growth and
Structural Change in Jharkhand

Dr. Umendra Singh

Title: A Macroeconomic Analysis of Trends in Industrial Sector Growth and Structural Change in Jharkhand
Authors: Dr. Umendra Singh
Journal: International Journal of Social Science and Economic Research (IJSSER) ISSN: 2455-8834 Volume: 3 Issue: 12 Publication Date: December 2018
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Dr. Umendra Singh Asst. Professor, University Dept. of Economics, Vinoba Bhave University, Hazaribag, Jharkhand
MLA 8 Singh, Dr. Umendra. "A Macroeconomic Analysis of Trends in Industrial Sector Growth and Structural Change in Jharkhand." Int. j. of Social Science and Economic Research, vol. 3, no. 12, Dec. 2018, pp. 7751-7765, ijsser.org/more2018.php?id=573. Accessed Dec. 2018. APA 6 Singh, D. (2018, December). A Macroeconomic Analysis of Trends in Industrial Sector Growth and Structural Change in Jharkhand. Int. j. of Social Science and Economic Research, 3(12), 7751-7765. Retrieved from https://ijsser.org/more2018.php?id=573 Chicago Singh, Dr. Umendra. "A Macroeconomic Analysis of Trends in Industrial Sector Growth and Structural Change in Jharkhand." Int. j. of Social Science and Economic Research 3, no. 12 (December 2018), 7751-7765. Accessed December, 2018. https://ijsser.org/more2018.php?id=573.
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ABSTRACT: This paper analyses industrial sector growth and structural change in Jharkhand during the period between 2010-11 to 2017-18. The analysis examines (i) trends in real GSDP growth, (ii) shifts in the sectoral composition of output and (iii) the internal structure and performance of industrial sub-sectors. The evidence shows a pattern of positive but highly volatile real GSDP growth with strong expansion up to 2014-15, a sharp contraction in 2015-16 and a subsequent recovery. Over the longer period since 2004–05, the industrial sector’s share in GSDP declined from more than one-half to about one-third, while services rose from roughly one-third to almost one-half and agriculture’s share remained broadly stable in the mid-teens. Within industry, mining and quarrying and construction registered strong long-run growth, whereas manufacturing recorded slightly negative growth, generating an industrial structure dominated by extractive and construction activities rather than diversified manufacturing. This pattern raises concerns about premature “deindustrialization,” low employment intensity and heightened output and fiscal volatility in a resource-rich but low-income state. The paper concludes by outlining policy priorities in the areas of manufacturing and MSME promotion, infrastructure and connectivity, skill development and inclusion and the prudent use of mining revenues to support more inclusive and sustainable structural transformation.

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