Maharashtra, Uttar Pradesh spearhead India's post-pandemic growth: SBI report

Indian economy post-COVID: Gujarat leads in economic growth, while SBI Research emphasizes need for inclusive policies and collaboration.

The Indian economy has demonstrated resilience in the wake of the COVID-19 pandemic, with the average real GDP growth surging to 8.1 per cent, a substantial increase from the 5.7 per cent growth witnessed in the pre-pandemic period.

According to the latest findings from the State Bank of India (SBI) Research, out of the 235 basis point (bp) growth, Maharashtra and Uttar Pradesh emerged as frontrunners, contributing 56 and 40 bps respectively, while the remaining 90 bps stemmed from other states.

On the Gross State Domestic Product (GSDP) front, Gujarat has notably doubled its economic output, marking a 2.2 times increase over the last decade.

Following closely behind are states such as Karnataka, Assam, Andhra Pradesh, Odisha, Telangana, Sikkim, and Madhya Pradesh, showcasing significant economic momentum and development.

The report also underscores the rise in per capita income across several states, with Gujarat exhibiting the most substantial growth, increasing by 1.9 times.

Karnataka, Andhra Pradesh, Telangana, and Assam trail closely, reflecting commendable economic advancements. Moreover, Gujarat, Karnataka, and Telangana have outperformed other states in terms of per capita income, further cementing their positions as economic powerhouses.

While some states such as Uttar Pradesh, Chhattisgarh, Bihar, and Madhya Pradesh have maintained stable per capita income growth trajectories, others like Jharkhand, Rajasthan, West Bengal, Maharashtra, Punjab, Delhi, and Goa have experienced deceleration in this aspect.