Karnataka, Tamil Nadu, Andhra, Kerala and Telangana have topped the list of states that have contributed to the nation’s economic growth.
Karnataka, Tamil Nadu, Andhra, Kerala and Telangana have topped the list of states that have contributed to the nation’s economic growth.
According to Reserve Bank of India (RBI) data and these states’ economic surveys, the five southern Indian states account for over 30 percent of India’s GDP, Business Today reported.
According to Reserve Bank of India (RBI) data and these states’ economic surveys, the five southern Indian states account for over 30 percent of India’s GDP, Business Today reported.
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According to Tamil Nadu with a GSDP of €24.8 lakh crore at current prices is the largest economy in South India. It is followed on from Karnataka €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 that transcend these states:
1) Per capita income: In this parameter, Telangana recorded the highest per capita income of in fiscal year 2023 €2,75,443. Karnataka followed with €2,65,623, Tamil Nadu with €2,41,131, Kerala with €2,30,601 and most recently Andhra Pradesh with €2.07.771 among five major south Indian states. Combining the five states, they have a higher per capita income than the national average €1,50,007.
2) Lower debt-to-GDP ratio: Telangana has the lowest debt to GSDP ratio at 25.3%, followed by Karnataka (27.5%), Tamil Nadu (27.7%), Andhra Pradesh (32.8%) and Kerala (37.2%) .
3) State tax revenue: In this parameter, Tamil Nadu leads with the highest tax revenues €1.26.644 crore followed by Karnataka ( €1.11.494 million), Telangana ( €92,910 crore), Andhra Pradesh ( €85,265 crore) and Kerala ( €71,833 crores).
4) Gross Budget Deficit (GFD): In terms of fiscal discipline, Karnataka has the lowest fiscal deficit (2.8%), followed by Andhra Pradesh (3.2%), Tamil Nadu (3.8%), Telangana (3.9%) and . Kerala (4.2%).
5) Ratio of interest payments to income: Among South Indian states, Telangana (11.3%) has the lowest interest payment rate, followed by Karnataka (14.3%), Andhra Pradesh (14.3%), Kerala (18.8%) and Tamil Nadu (21%).
