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Arunachal Pradesh, J&K are fastest growing economies: Central Statistics Office

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          On 30th august ,2017, Central Statistics Office(CSO) published new series of gross State Domestic Product (SDP) data with 2011-12 as the base year. According to it Jammu and Kashmir and Arunachal Pradesh were the fastest expanding State economies in 2015-16. Comparison between states plays a healthy role in promoting competitive federalism thereby promoting fair competition. On the whole, the national economy expanded by 8 per cent in 2015-16 at constant 2011-12 prices.

Highlights: –

  • Arunachal Pradesh’s gross State domestic product (GSDP) expanded 5 per cent and that of Jammu and Kashmir 14.7 per cent at constant 2011-12 prices.
  • The economies of bigger States such as Maharashtra and Uttar Pradesh expanded about 8-8.5 per cent that year.

economicPer capita income: –

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

The per capita income among the five largest State economies are as follows

1) Highest in Gujarat at ₹1,22,502.06,

2) Maharashtra (₹1,21,514.50),

3) Karnataka (₹1,13,506.12) and

4) Tamil Nadu (₹1,11,453.76).

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.

The trend of growth: –

The rapid expansion of Jammu and Kashmir’s GSDP came after a 0.3 per cent contraction in 2014-15 when the State was hit by its worst flood in 60 years following heavy monsoon rains. The Arunachal Pradesh economy, also had expanded at a similar pace that year.

Top 5 States: –

1)  Maharashtra remains the largest State economy, with its size estimated at ₹16,59,776.05 crores (₹16.6 lakh crore) at constant 2011-12 prices.

2)The second-biggest State economy is Tamil Nadu, estimated at ₹9,48,673.85 crores.

3) Gujarat’s economy was estimated at ₹9,01,375.28 crores

4) Uttar Pradesh at ₹9,01,256.8 crores.

5) 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.

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.