Telangana Outpaces Nation with 12.6 Percent Annual Growth - News

Telangana’s economy experienced strong growth in fiscal year 2022-23, with a Gross State Domestic Product (GSDP) of INR 13.13 lakh crore. The State has surpassed the national average with 12.6 percent yearly growth since 2014, contributing 4.8 percent to the national economy. At 12.7 percent, GSDP growth exceeds the national average of 10.5 percent. 
The State’s per capita income of INR 3.12 lakh is nearly double the national average (INR 1.72 lakh), with a 5-to-6-year income doubling schedule, exceeding India’s 8-year average.
With respect to wealth distributions, Telangana scores high, together with Tamil Nadu and Kerala, with a Gini coefficient of 0.10. Also, the State ranked third in per capita income nationally. The agriculture and allied sectors registered growth worth 15.8 percent on a year-on-year basis, which is crucial to 45.8 percent of the working population. The industrial sector experienced a 10 percent increment, while the service sector, the most significant economic driver, registered an outstanding 20.6 percent expansion as opposed to the national average, which was 17.3 percent. These positive indicators strengthen Telangana’s status in the Indian economy.