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Jharkhand is one of the most highly industrialized States in the country. Jharkhand is a state in eastern India. It was carved out of the southern part of Bihar on 15 November 2000. Jharkhand shares its border with the states of Bihar to the north, Uttar Pradesh and Chhattisgarh to the west, Odisha to the south, and West Bengal to the east. The city of Ranchi is its capital and Dumka is sub capital while Jamshedpur is the largest and the biggest industrial city of the state. Jharkhand is famous for its rich mineral resources like Uranium, Mica, Bauxite, Granite, Gold, Silver, Graphite, Magnetite, Dolomite, Fireclay, Quartz, Fieldspar, Coal (32% of India), Iron, Copper (25%of India) etc. Forests and woodlands occupy more than 29% of the state which is amongst the highest in India. Jharkhand business and economy centers round the various industries housed in the territory. Business and economy in Jharkhand seems to be a vital component of the administrative set up of Jharkhand; it is this aspect of the Government of Jharkhand that is helping the Government to meet up to the challenges of this industrial world.
Talking about the business and economy of Jharkhand, it can be said that Jharkhand houses two major steel plants in India. The steel plants at Bokaro and the Tata Iron and Steel Company are the two major plants housed within the territory of Jharkhand. These steel plants largely contribute towards the economy of not only Jharkhand, but India.
The State also has a large number of work force in the unorganized sector. As per census data 2011 out of 3.29 Crore population approx. 1.98 Crore population is non working .Report on Employment and Unemployment Survey 2013-14 conducted by Labour Bureau suggests that Labour Force Participation Rate (per Thousand) for persons of age 15 years and above according to current weekly status approach was 489 which was below national average of 525. NSSO survey report suggests that only 15.6 Lakh people were employed in organized sector. It means that Approx.90% of workforce is employed in unorganized sector.
The unorganized sector broadly covers all such factories, shops and establishments that have less than 10 workers, self employed and agriculture workers.
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Last updated on: 30/10/2023
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