Karnataka, Tamil Nadu, Andhra, Kerala, and Telangana have topped the list of states in contributing to the nation’s economic growth.
According to the data by the Reserve Bank of India (RBI), and economic surveys of these states, the five southern Indian states have over 30 per cent share of India’s GDP, reported Business Today.
As per details, Tamil Nadu, with a GSDP of ₹24.8 lakh crore at current prices, is the biggest economy in south India. Its is followed by Karnataka at ₹22.4 lakh crore, Telangana at ₹13.3 lakh crore, Andhra Pradesh at ₹13.2 lakh crore and Kerala with ₹10 lakh crore GSDP.
Here are other factors on which these states exceed:
1) Per capita Income: on this parameter, in FY 2023, Telangana recorded the highest per capita income of ₹2,75,443. It was followed by Karnataka with ₹2,65,623, Tamil Nadu with ₹2,41,131, Kerala with ₹2,30,601, and lastly Andhra Pradesh with ₹2,07,771 among five major south Indian states. Combining the five states, they have higher per capita income than the national average of ₹1,50,007.
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2) Lower debt-to-GDP ratio: Telangana has the lowest debt to GSDP ratio of 25.3%, followed by Karnataka (27.5%), Tamil Nadu (27.7%), Andhra Pradesh (32.8%), and Kerala (37.2%).
3) State Tax Revenues: On this parameter, Tamil Nadu tops with the highest tax revenues of ₹1,26,644 crore, followed by Karnataka ( ₹1,11,494 crore), Telangana ( ₹92,910 crore), Andhra Pradesh ( ₹85,265 crore), and Kerala ( ₹71,833 crore).
4) Gross Fiscal Deficit (GFD): In relation with fiscal discipline, Karnataka has the lowest fiscal deficit (2.8%), and followed by Andhra Pradesh (3.2%), Tamil Nadu (3.8%), Telangana (3.9%) and . Kerala (4.2%).
5) Interest Payments to Revenue Receipts ratio: Among the south Indian states, Telangana (11.3%) has the lowest interest payments ratio, followed by Karnataka (14.3%), Andhra Pradesh (14.3%), Kerala (18.8%) and Tamil Nadu (21%).
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Published: 06 May 2023, 04:17 AM IST
The southern states of India—Karnataka, Tamil Nadu, Andhra Pradesh, Kerala, and Telangana—stand out for their significant contributions to the nation's economic growth. The information provided aligns with the Reserve Bank of India's (RBI) data and economic surveys, reflecting their substantial share, accounting for over 30% of India's GDP.
Let's break down the concepts and data mentioned:
Gross State Domestic Product (GSDP):
- Tamil Nadu leads with a GSDP of ₹24.8 lakh crore.
- Karnataka follows with ₹22.4 lakh crore.
- Telangana stands at ₹13.3 lakh crore.
- Andhra Pradesh records ₹13.2 lakh crore.
- Kerala has a GSDP of ₹10 lakh crore.
Per Capita Income:
- Telangana boasts the highest per capita income of ₹2,75,443, followed by
- Karnataka with ₹2,65,623,
- Tamil Nadu with ₹2,41,131,
- Kerala with ₹2,30,601, and
- Andhra Pradesh with ₹2,07,771.
Debt-to-GDP Ratio:
- Telangana maintains the lowest ratio at 25.3%.
- Karnataka follows at 27.5%,
- Tamil Nadu at 27.7%,
- Andhra Pradesh at 32.8%, and
- Kerala with 37.2%.
State Tax Revenues:
- Tamil Nadu leads in tax revenues with ₹1,26,644 crore.
- Karnataka follows with ₹1,11,494 crore,
- Telangana with ₹92,910 crore,
- Andhra Pradesh with ₹85,265 crore, and
- Kerala with ₹71,833 crore.
Gross Fiscal Deficit (GFD):
- Karnataka maintains the lowest fiscal deficit at 2.8%,
- Andhra Pradesh at 3.2%,
- Tamil Nadu at 3.8%,
- Telangana at 3.9%, and
- Kerala at 4.2%.
Interest Payments to Revenue Receipts Ratio:
- Telangana shows the lowest ratio at 11.3%,
- Karnataka at 14.3%,
- Andhra Pradesh at 14.3%,
- Kerala at 18.8%, and
- Tamil Nadu at 21%.
These statistics showcase the economic prowess and financial management strategies of these states, exhibiting their significant contributions to India's economic landscape. The rankings across various parameters highlight their fiscal discipline, revenue generation capabilities, and per capita income, underscoring their crucial role in the country's economic growth story.
