Telangana emerges as India’s top state in Per-Capita GSVA: ICRA report

This surge represents the highest per-capita GSVA growth across all states, with Telangana achieving a compound annual growth rate (CAGR) of 6.8%, well above the national average of 5.8%. For 2023-24, Karnataka and Tamil Nadu secured the second and third positions, respectively, replacing Haryana, Uttarakhand, and Kerala from the 2014-15 rankings.

Hyderabad: Telangana has emerged as the top State in the country in terms of per-capita Gross State Value Added (GSVA) (at current prices) for financial year 2023-24, a sharp rise from its ninth position in 2014-15. The State’s per-capita GSVA has more than doubled over nine years, from around Rs 1.25 lakh in 2014-15 to about Rs 3.5 lakh in 2023-24.

This leap marks the fastest per-capita GSVA growth among all States, with Telangana registering a CAGR of 6.8 per cent, significantly above the national average of 5.8 per cent. Karnataka and Tamil Nadu followed Telangana in the top three rankings for 2023-24, replacing Haryana, Uttarakhand, and Kerala from 2014-15.

The latest study released by ICRA (formerly Investment Information and Credit Rating Agency), attributed Telangana’s impressive performance to sustained investments in irrigation, strong agricultural output, particularly in crop production, and robust growth in industrial and services sectors.

Sharing the report, former Finance Minister and BRS MLA T Harish Rao credited the remarkable rise to the vision and governance of the previous BRS government led by former Chief Minister K Chandrashekhar Rao.

“This didn’t happen by chance. It is the result of Chandrashekhar Rao’s clear vision, leadership, irrigation projects, proactive agricultural policies and strong industrial reforms,” he stated.

He took a dig at Chief Minister A Revanth Reddy’s claims branding Telangana as financially bankrupt. “The real bankruptcy is not economic, but in his thinking. Ignoring proven success and failing to build on this legacy, only misleads the people and undermines Telangana’s progress,” he added.