“West Bengal, which held the third-largest share of national GDP at 10.5% in 1960-61, now accounts for only 5.6% in 2023-24. It has seen a consistent decline throughout this period.” the paper mentioned.
| Photograph Credit score: AFP
West Bengal has skilled a continual abate in its relative financial efficiency over a number of a long time, in line with a running paper by way of Financial Advisory Council to the High Minister (EAC-PM).
Authored by way of EAC-PM member Sanjeev Sanyal, the paper ‘Relative Economic Performance of Indian States: 1960-61 to 2023-24’ mentioned the improvement of jap a part of the rustic rest a priority.
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It mentioned maritime States have obviously outperformed alternative States, excluding West Bengal.
Even though Bihar’s relative place has stabilized within the closing 20 years, it rest considerably in the back of alternative States and calls for a lot quicker enlargement to catch up, the paper famous.
Conversely, Odisha, historically a laggard, has proven a marked development lately.
“West Bengal, which held the third-largest share of national GDP at 10.5% in 1960-61, now accounts for only 5.6% in 2023-24. It has seen a consistent decline throughout this period.
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“West Bengal’s per capita income was above the national average in 1960-61 at 127.5%, but its growth failed to keep pace with national trends. As a result, its relative per capita income declined to 83.7% in 2023-24, falling below that of even traditionally laggard States like Rajasthan and Odisha,” the paper mentioned.
It additional famous that the western and southern areas of Republic of India have carried out significantly higher than alternative portions of the rustic from 1960-61 to 2023-24.
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South leads GDP race
Southern States have considerably outpaced others then financial liberalization in 1991, with the 5 States — Karnataka, Andhra Pradesh, Telangana, Kerala and Tamil Nadu — jointly accounting for about 30% of Republic of India’s GDP in 2023-24.
“Before 1991, southern States did not show exceptional performance. However, since the economic liberalization of 1991, southern States have emerged as the leading performers,” it mentioned.
As well as, in line with capita source of revenue of all southern States changed into upper than the nationwide moderate then 1991.
The paper additionally famous that within the north, States like Delhi and Haryana additionally stood out. “Delhi has one of the highest per capita incomes throughout the study period.” As in line with the paper, Maharashtra, West Bengal and Tamil Nadu had been house to Republic of India’s 3 greatest business clusters within the Sixties.
“Their fortunes subsequently diverged- Maharashtra showed broadly steady performance throughout, West Bengal’s share has been in continuous decline. After a decline, Tamil Nadu picked up post-1991,” it mentioned.
All information worn are in wave costs and the research spans 1960-61 to 2023- 24, offering insights into how particular person States have carried out according to adjustments in nationwide and Condition-specific insurance policies.
Printed – September 18, 2024 11:53 am IST
