J&K, Among The Fastest Growing Economies

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Jammu and Kashmir and Arunachal Pradesh were the fastest expanding State economies in 2015-16, according to a new series of gross State domestic product data with 2011-12 as the base year published by the Central Statistics Office. The two States also reported the fastest rise in per capita income in the same year.

Per capita income in Jammu and Kashmir rose by more than 14 per cent at constant 2011-12 prices, while the rise at the national level was only 6.8 per cent. Yet, the per capita income of J&K was just a fraction of that in richer States and territories such as Delhi.

The rapid expansion of Jammu and Kashmir’s Gross State Domestic Product (GSDP) came after a 0.3 per cent contraction in 2014-15 when the State was hit by its worst flood in 60 years following heavy monsoon rains .

Along with J&K, other State economies to record double-digit expansion were Goa (11.5 per cent), Gujarat (11.1 per cent), Andhra Pradesh (11 per cent), Mizoram (10.9 per cent) and the Union Territory of Puducherry (10.3 per cent).

Top 5 States
Maharashtra remains the largest State economy, with its size estimated at ₹16,59,776.05 crore (₹16.6 lakh crore) at constant 2011-12 prices. Jammu and Kashmir’s economy, at ₹97,289.27 crore, is just about 6 per cent of Maharashtra’s. The second-biggest State economy is Tamil Nadu, estimated at ₹9,48,673.85 crore. Gujarat displaced Uttar Pradesh to become third largest, but the difference between the two was narrow. Gujarat’s economy was estimated at ₹9,01,375.28 crore and Uttar Pradesh at ₹9,01,256.8 crore.

Per capita income
On per capita income, the average income of a Jammu and Kashmir resident was just a little more than a fifth of a resident of Goa at constant 2011-12 prices. The per capita income for Jammu and Kashmir was estimated at ₹60,171.36 compared with ₹2,67,328.90 for Goa and ₹2,26,583.11 for Delhi.

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