Arunachal Pradesh, J&K are fastest grow­ing economies

Top five States ac­count for 46% of na­tional GDP

The Hindu Business Line - - FRONT PAGE - TINA ED­WIN

Jammu and Kash­mir and Arunachal Pradesh were the fastest ex­pand­ing State economies in 2015-16, ac­cord­ing to a new se­ries of gross State do­mes­tic prod­uct data with 2011-12 as the base year pub­lished by the Cen­tral Sta­tis­tics Of­fice. The two States also re­ported the fastest rise in per capita in­come in the same year.

Arunachal Pradesh’s gross State do­mes­tic prod­uct (GSDP) ex­panded 16.5 per cent and that of Jammu and Kash­mir 14.7 per cent at con­stant 2011-12 prices.

Na­tional growth rate

In com­par­i­son, the economies of big­ger States such as Ma­ha­rash­tra and Ut­tar Pradesh ex­panded about 8-8.5 per cent that year. The na­tional econ­omy too ex­panded 8 per cent in 2015-16 at con­stant 2011-12 prices.

Per capita in­come in Jammu and Kash­mir and in Arunachal Pradesh rose by more than 14 per cent at con­stant 2011-12 prices, while the rise at the na­tional level was only 6.8 per cent. Yet, the per capita in­come in these States was just a frac­tion of that in richer States and ter­ri­to­ries such as Delhi.

The rapid ex­pan­sion of Jammu and Kash­mir’s GSDP came af­ter a 0.3 per cent con­trac­tion in 201415 when the State was hit by its worst flood in 60 years fol­low­ing heavy mon­soon rains . The Arunachal Pradesh econ­omy, in com­par­i­son, had ex­panded at a sim­i­lar pace that year.

These two were not the only States to record dou­ble-digit growth in the year. Other State economies to record dou­ble-digit ex­pan­sion were Goa (11.5 per cent), Gu­jarat (11.1 per cent), Andhra Pradesh (11 per cent), Mi­zo­ram (10.9 per cent) and the Union Territory of Puducherry (10.3 per cent).

Top 5 States

Ma­ha­rash­tra re­mains the largest State econ­omy, with its size es­ti­mated at ₹16,59,776.05 crore (₹16.6 lakh crore) at con­stant 2011-12 prices. Jammu and Kash­mir’s econ­omy, at ₹97,289.27 crore, is just about 6 per cent of Ma­ha­rash­tra’s.

The sec­ond­biggest State econ­omy is Tamil Nadu, es­ti­mated at ₹9,48,673.85 crore. Gu­jarat dis­placed Ut­tar Pradesh to be­come third largest, but the dif­fer­ence be­tween the two was nar­row. Gu­jarat’s econ­omy was es­ti­mated at ₹9,01,375.28 crore and Ut­tar Pradesh at ₹9,01,256.8 crore.

Kar­nataka was the fifth largest with an es­ti­mated size of ₹8,14,802.64 at con­stant 2011-12 prices. These five States to­gether ac­count for about 46 per cent of the na­tion’s GDP.

Per capita in­come

On per capita in­come, the av­er­age in­come of a Jammu and Kash­mir res­i­dent was just a lit­tle more than a fifth of a res­i­dent of Goa at con­stant 2011-12 prices. The per capita in­come for Jammu and Kash­mir was es­ti­mated at ₹60,171.36 com­pared with ₹2,67,328.90 for Goa and ₹2,26,583.11 for Delhi.

Among the five largest State economies, the per capita in­come was the high­est in Gu­jarat at ₹1,22,502.06, fol­lowed by Ma­ha­rash­tra ( ₹1,21,514.50), Kar­nataka (₹1,13,506.12) and Tamil Nadu (₹1,11,453.76).

Growth es­ti­mates for West Ben­gal, com­piled by the State’s di­rec­torate of eco­nom­ics and sta­tis­tics, are still un­der ex­am­i­na­tion by the CSO, and have there­fore not been pub­lished. Com­pi­la­tion of the growth data for 2016-17 is not yet com­plete, as only 18 States and Union Ter­ri­to­ries have re­ported their num­bers to the CSO.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.