Hyderabad: Reflecting the efforts of the State in attracting new investments and enhancing employment opportunities, Telangana’s Per Capita Income (PCI) growth rate stood second highest in the country and well above the national average.
The four-year growth rate of PCI of Telangana (at current prices) stands at 13.3 per cent, second only to Sikkim which recorded a 13.7 per cent growth rate of PCI, the statistical abstract 2020 revealed.
The per capita income, which is the average income earned per person in a given area in a specified year, in Telangana increased to Rs 2,28,216 in 2019-20 (at current prices) from Rs 91,121 in 2011-12. The PCI of the state was Rs 1,40,840 in 2016-17, Rs 1,80,494 in 2017- 18 and Rs 2,04,488 in 2018-19. The growth rate every year has not been less than 9 per cent, proving the state’s good record among others.
The national PCI is Rs. 1,36,432. The national growth rate at the same time was oscillating between 7% to 9%.
State planning board vice chairman B Vinod Kumar said that the state is improving its track record on all fronts. “The real estate and software sectors in Hyderabad have contributed in great detail to the economy. Good monsoon helped the state to have a robust rural economy. For the same reason, consistency can be seen in the growth rate of all parameters,” he said to The Times of India.
Furthermore, at constant prices, the Gross State Domestic Product (GSDP) of Telangana was Rs 6,63,258 crore while the country’s Gross Domestic Product stands at Rs 1,46,83,835 crore in 2019-20. Between 2012-13 and 2019-20, the average annual GSDP growth of Telangana was 8.0% and India was 6.7% at constant prices, according to Telangana State Statistical Abstract.