This page uses content from Wikipedia and is licensed under CC BY-SA.

Economy of Mizoram

Economy of Mizoram
Statistics
GDP11,458 crore (US$1.6 billion) (2014-15)[1]
GDP rank32nd
GDP per capita
76,210 (US$1,100) (2014-15)[2]

All values, unless otherwise stated, are in US dollars.

Mizoram is one of the fastest growing economies among the states of India with a per capital income of Rs 50,021. Mizoram had the second highest GSDP growth during the 11th Five Year Plan (2007-2012) in Northeast India at 11 percent exceeding the target of 7.8 percent which is also much higher than the national average of 7.9 percent. During the 10th Five Year Plan (2002-2007), the Gross State Domestic Product (GSDP) was expected to grow at around 5.3 per cent but grew at 5.7 per cent. The biggest contributors to GSDP growth are Agriculture, Public Administration and Construction work.[3] Tertiary sector of service sector continued to have the contribution to the GSDP with its share hovering between 58 per cent and 60 per cent during the past half a decade.[4]

Agriculture

Around 60 per cent of the population of the state depended on agriculture, the sector's contribution to the GSDP was only 19.84 per cent during the same period and that of the industry was 20.20 per cent. The Economic Survey indicated that 32 per cent of the cultivated area was under jhum and only 20 per cent of the demand for rice could be met within the state while a total of 14,28,600 tonnes of rice was lifted by the state government from outside. More than 70% of the total population is engaged in some form of agriculture. The age-old practice of Jhum is being discouraged by the state government with schemes like the New Land Use Policy a Policy to help farmers move away from the traditional slash-and-burn method of cultivation.[5] Recently, Mizoram Government has entered into a new venture wherein Oil Palm and Jatropha cultivation, for biofuels is being promoted.[6]

Education

Education is an important industry for Mizoram. It boast of a large number of schools in the state which employ a number of people. Mizoram has one Central Univeristy, Mizoram University and NIT Mizoram which is still functioning out of a rented place. The investment in Education sector other than Government in the state are ICFAI University, Mizoram and Church institutions like St. Xavier's College, Lengpui, Higher and Technical Institute of Mizoram, Helen Lowry College of Arts & Commerce. These quality Education investment not only help in producing quality education but also provide education and save tution fees which would otherwise be remitted outside the state.

Energy

Mizoram has 2 Hydr Power Plants, the 60 MW Tuirial Dam and 12 MW Serlui B Dam. Mizoram’s current power demand is now only 115 MW. With other power Projects like 24 MW Tuirini Hydel Project, 210 Tuivai Hydel Project in the pipeline, Mizoram is soon expected to be not only power surplus but exporter of power[7]. There is also plan for a 20 MW solar park in Mizoram[8]. It is estimated that Mizoram still spends 25-28 crores for buying power from outside the state every month[9].

Tourism

Mizoram is yet to establish itself as a tourist destination for both Indians and non-Indians alike. Tourists mostly visit such attractions as the hill stations of Lalsavunga Park, Reiek and Hmuifang. National parks and wildlife sanctuaries such as Phawngpui National Park, Murlen National Park and Dampa Tiger Reserve. Vantawng Falls and Tuirihiau falls in Thenzawl. Growth in tourism is abysmal due to lack of policy and incompetence of Government officials. The tourism industry is mainly concentrated in building tourist Lodges and highway restaurants without invitation of foreign or outside of the state investment in building up the Tourism infrastructure. During 2009-14 against only Rs 266.85 lakh was collected as revenue from these Lodges and highway restaurants.[10].

Alcohol

The Mizoram Liquor (Prohibition and Control) or MLPC Act of 2014 allowed opening of liquor shops and bars in the State and replaced the Mizoram Liquor Total Prohibition (MLTP) Act of 1995, As of March 2017, the State of 1.1 million people had 71,158 liquor card holders. A card holder is entitled to six 750ml bottles of IMFL and 10 bottles each of wine and beer a month from 51 operational outlets[11]. Mizoram collected Rs 19.44 crore tax revenue from the sale of liquor in 8 months after the MLPC Act 2014 came into force in the state from January 16, 2015[12].

Industry

Mizoram is facing a number of difficulties in the advancement of industries. Lack of means of dependable surface transport and poor accessibility is one of the major drawbacks. Other problems faced by the state were the poor mineral resources, non-availability of good infrastructure and communication facilities, shortage of capital and lack of modern skills. A Software Technology Park is however being established in Mizoram University campus.[13] A Steel Plant is also being established in Mizoram.[14]

Macro-economic trend

Below is not a chart of trends in gross state product of Mizoram at market prices estimated[15] by Ministry of Statistics and Programme Implementation with figures in millions of Indian rupees.

Year Nominal GDP (in rupees)
1980 680,500,000
1985 1,810,000,000
1990 3,410,000,000
1995 9,370,000,000
2000 17,690,000,000

References

  1. ^ "STATE WISE DATA" (PDF). Economic Statistical Organisation Punjab. Central Statistical Organisation, New Delhi. Retrieved 17 February 2017.
  2. ^ "State of States 2016: Maharashtra, Karnataka lead in ease of doing business". India Today. Retrieved 17 February 2017.
  3. ^ "Mizoram GSDP a thang chak NLUP inrêlbawlna sum a tam lo". Vanglaini. Retrieved 24 August 2012.
  4. ^ "Mizoram per capita income". Indian Express. Retrieved 20 August 2012.
  5. ^ "Mizoram to implement new land use policy". Sify News. Retrieved 20 August 2012.
  6. ^ "Mizoram soon to have an Oil Palm industry". The Northeast Times. Retrieved 20 August 2012.
  7. ^ "Mizoram becomes third power-surplus state in the North-East". Economic Times. Retrieved 7 December 2018.
  8. ^ "Mizoram to set up 20 Megawatt solar park". Economic Times. Retrieved 7 December 2018.
  9. ^ "Solar energy chungchanga hmalakna Sorkar department hotu lúte zirtir an ni". Vanglaini. Retrieved 7 December 2018.
  10. ^ "Absence of policy badly affected tourism in Mizoram: CAG". Economic Times. Retrieved 7 December 2018.
  11. ^ "Liquor brewing as a political issue in Mizoram". The Hindu. Retrieved 7 December 2018.
  12. ^ "Mizoram Govt collects Rs 19.44 crore tax revenue in 8 months from liquor". E Pao. Retrieved 7 December 2018.
  13. ^ "Northeast's fourth software technology park in Mizoram". Assam Tribune. Retrieved 20 August 2012.
  14. ^ "Mizoram steel plant ready to roll". WebIndia. Retrieved 20 August 2012.
  15. ^ National Accounts Division: Press Release and statements, M/O Statistics & PI Archived 13 April 2006 at the Wayback Machine.