Banka District - Economy

Economy

Banka is gradually becoming a religious tourism hotspot for Hinduism and Jainism. Old Mandar Parvat (also known as Mandarachar Parvat in Puran) has many place to visit. A Jain temple at the summit, in close proximity to a Vishnu temple, is a sign of religious tolerance. Every year in January, Bounsi Mela is organised, which depicts the village life of the Mandar region. A Ratha-Yatra procession of Lord Madhusudanah occurs every year on the same day as the Rath Yatra procession in Puri. Fourteenth-century Vaishnava saint Chaitanya Mahaprabhu started this Rath Yatra during his visit to Mandar.

Banka is a largely agrarian economy and is considered the rice bowl of Bihar. The main crops are rice, wheat, corn, and lentils. Amarpur is the densely-populated block of Banka district. The Amarpur belt produces sugar cane and is home to gur sugar mills.

An issue for many smaller village industries in Bihar is lack of branding for products. High-quality, locally produced goods, even in large volumes, contribute to lower earnings for business owners because of a lack of awareness of more profitable business practices.

Banka is strategically located near the source of raw materials for heavy industries. Its proximity to Jharkhand (bordering Deoghar, Dumka, and Godda) and the river Chandan makes it a very strong contender for coal based power plant investment and other heavy Industry.

In 2006 the Indian government named Banka one of the country's 250 most backward districts (out of a total of 640). It is one of the 36 districts in Bihar currently receiving funds from the Backward Regions Grant Fund Programme (BRGF).