Source: The Sangai Express
Imphal, December 13:
The bane of frequent bandhs and economic blockades has started showing its impact on the economy of the State with Manipur recording the lowest economic growth rate during the 11th Five year plan period among all the North Eastern States.
The Union Planning Commission has also indicated that the economic position of the State is not likely to change for the better in the years to come.
According to an official source, the Union Planning Commission has calculated that with an economic growth rate of just 5.9 percent, Manipur has the lowest economic growth among the North Eastern States during the period of the 11th Five Year Plan.
Citing imposition of bandhs and economic blockades as among the main reasons for the low rate of economic growth, the source disclosed that the Union Planning Commission had also indicated that there would not be any significant change in the financial condition of the State in the years to come.
Sector wise, Manipur recorded only 1.2 percent of growth in Agriculture, 4 percent in Industries and 7 percent in Services.
Among the North Eastern States, Nagaland recorded the highest economic growth rate of 9.3 percent followed by Sikkim with 8.5 percent, Meghalaya with 7.3 percent, Mizoram with 7.1 percent, Tripura with 6.9 percent, Assam with 6.5 percent and Arunachal Pradesh with 6.4 percent .
Sector wise, Nagaland registered 8.4 percent growth in Agriculture and 10 percent in services, thereby becoming the State with the highest economic growth rate in these sectors among the North Eastern States.
Out of the 122 days from April 1 to July 31 of this year, in Manipur, 53 days remained under the spell of intense bandh and blockade along both the National Highways passing through the States while another 81 days were under the imposition of either State wide or partial bandh.
According to the estimation of the Union Planning Commission, the State suffered a loss of Rs 2.41 crores per day in Greater Imphal alone when any bandh or blockade is imposed.
On the other hand, a report on the study on the impact of bandh and strike on economic growth in Manipur conducted by the State Department of Economics and Statistics during 2003-04 pointed out that Manipur as a whole suffered an estimated economic loss of Rs 2,75, 263 lakhs annually and Rs 84,122 lakhs annually in Greater Imphal alone.
The annual per capita loss is Rs 10, 758 lakhs for whole of Manipur and Rs 34,462 lakhs for Greater Imphal alone.
Comparative study on the estimated economic loss sector-wise are Transport, Storage and CommunicationRs 3,131 lakhs (Greater Imphal) and Rs 20, 874 lakhs (Manipur), Trade, Hotel and RestaurantRs 9,069 lakhs (Greater Imphal) and Rs 37,786 lakhs (Manipur), Public Administration-Rs 53,142 lakhs (Greater Imphal) and Rs 69,790 lakhs (Manipur), Construction-Rs 4,493 lakhs (Greater Imphal) and Rs 40,847 lakhs (Manipur), ManufacturingRs 4,940 lakhs (Greater Imphal) and Rs 24,698 lakhs (Manipur), Business and Legal Services-Rs 6,612 lakhs (Greater Imphal) and Rs 13,232 lakhs (Manipur) and Banking and InsuranceRs 2,735 lakhs (Greater Imphal) and Rs 4,972 lakhs (Manipur).
The estimated loss suffered on account of bandh per day is said to be Rs 230 lakhs in Greater Imphal and Rs 754 lakhs for whole of Manipur.