GSDP: Overview
- At constant price, GSDP increased from ₹ 1,50,918 in 2011-12 to ₹ 3,03,178 in 2024-25.
- At current price, GSDP increased from ₹ 1,50,918 in 2011-12 to ₹ 5,16,255 in 2024-25.
Period 2011-12 to 2014-15: Initial Growth Phase
- In 2012-13, real growth rate was 8.17% and nominal growth rate was 15.78%.
- In 2013-14, real growth rate declined to 1.57% and Nominal growth rate declined to 7.92%.
- In 2014-15, real growth rate increased to 12.50% and nominal growth rate also increased to 15.89%.
Period 2015-16: Economic Contraction
- At constant prices, GSDP declined by 6.24%. This was the first instance of negative growth during the period under analysis.
- At current prices, the GSDP declined by 5.45%.
Period 2016-17 to 2018-19: Recovery and Sustained Growth
- In 2016-17, the real growth rate bounced back to 10.46%. This recovery was due to improved performance in all the sectors i.e., agriculture, industry, and services.
- In 2017-18, real growth rate of 9.01% shows sustained growth rate.
- In 2018-19, real growth rate was 8.87%.
- These three consecutive years of growth rates between 8.9% and 10.5%.
Year 2019-21: Pandemic Slowdown
- The year 2019-20 witnessed a significant deceleration in growth.
- The real growth rate moderated to 1.08% and nominal growth rate was 1.51%.
- Due to pandemic real growth rate contracted by 5.30%, nominal growth rate was 4.39%.
Period 2021-22 to 2024-25: Post-Pandemic Recovery
- In 2021-22, real growth rate was 12.02%, which was one of the highest growth rate and nominal growth rate was exceptional 26.78%.
- In 2022-23, real growth rate was 7.19% followed by 7.50% in 2023-24.
- In 2024-24, real growth rate was 7.02%.
Per Capita Income
- Per capita income has increased from ₹ 41,254 in 2011-12 to ₹ 68,357 in 2024-25.