Economy
Jharkhand's gross state domestic product for 2004 is estimated at $14 billion at current prices. Born out of partition from old Bihar state in 2000, Jharkhand produces about 70% of the output of the old Bihar state. Since it is rich in minerals, the state per capita income is likely to increase in the coming years.
Jharkhand has a concentration of some of the country’s highly industrialised cities such as Jamshedpur, Ranchi, Bokaro Steel City, Dhanbad and Ramgarh. It also has several firsts in India, including:
- Largest fertiliser factory of its time in India (since shut down) at Sindri, Dhanbad
- First Iron & steel factory at Jamshedpur
- Largest Steel plant in Asia, Bokaro steel plant, Bokaro.
- Biggest explosives factory at Gomia, Bokaro.
- Tata Steel has established country’s first coal washery at Ghato, Ramgarh in the year 1951.
- First methane gas well at Parbatpur, Bokaro.
Read more about this topic: Jharkhand
Famous quotes containing the word economy:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)