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).
Read more about this topic: Banka District
Famous quotes containing the word economy:
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)