Karnataka’s share in India’s GDP was 5.4 percent in 1960-61, and it remained almost the same until 1990-91. However, after the policy shift, the state saw rapid growth, with its GDP share rising to 6.2 percent by 2000-01 and reaching 8.2 percent by 2023-24.
Published Sep 18, 2024 | 5:20 PM ⚊ Updated Sep 19, 2024 | 8:34 AM
Indian money. (iStock)
The recently released Relative Economic Performance of Indian States: 1960-61 to 2023-24 report by the Economic Advisory Committee (EAC) to the Prime Minister placed Karnataka at the third position in terms of highest per capita incomes in the country.
An average person in Karnataka has an income 81 percent higher than the national average.
It also cited that the state was positioned in fourth place in terms of contribution to the country’s GDP (8.2%). The report said Southern states emerged as top performers in terms of per capita income since the 1990s.
Andhra Pradesh, Telangana, Karnataka, Kerala, and Tamil Nadu have seen their per capita incomes grow faster than the national average, leading to a significant increase in their relative income levels.
Performance of Southern States – GDP share (2023 – 24)
“In 1990-91, all these southern states had per capita incomes below the national average, resulting in relative per capita incomes of less than 100. However, within the first decade following economic liberalisation, the relative per capita income of each of these states surpassed 100 and continued to rise rapidly thereafter,” the report said.
It said a notable development following the economic liberalisation was the emergence of Karnataka as an economic powerhouse.
Karnataka’s share in India’s GDP was 5.4 percent in 1960-61, and it remained almost the same until 1990-91. However, after the policy shift, the state saw rapid growth, with its GDP share rising to 6.2 percent by 2000-01 and reaching 8.2 percent by 2023-24.
Among other Southern states, Tamil Nadu contributes 8.9 percent to the nation’s GDP, second only to Maharashtra (13.2%). Andhra Pradesh has a share of 4.7 percent, Kerala has 3.8 percent and Telangana 4.9 percent.
The relative per capita income in Telangana is now 193.6 percent of the national average, while Andhra Pradesh, Tamil Nadu and Kerala have per capita incomes of 131 percent, 171 percent, and 152.5 percent of the national average, respectively.
(Compiled by SF Desk)
