Hyderabad: According to the Economic Survey Report of Telangana for 2023-24, the state’s Per Capita Income (PCI) at current prices stands at Rs 3.47 lakh, significantly higher than the national PCI of Rs 1.83 lakh.
Despite variations across its 33 districts, all districts in Telangana reported a higher PCI than the national average of Rs 1,69,496 in 2022-23. Rangareddy district led with a PCI of Rs 9,46,862, more than five times the national average, while neighboring Vikarabad had a PCI of Rs 1,80,241, highlighting regional disparities.
Hyderabad and its surrounding districts showed the highest per capita incomes, reflecting their status as economic hubs. In contrast, districts like Vikarabad, Kumuram Bheem, and Jagtial had lower PCIs, indicating less development and industrialization. These differences underscore the varied economic landscape of Telangana, influenced by industrialization, agricultural productivity, and infrastructure development.
In 2023-24, Telangana’s Gross State Domestic Product (GSDP) at current prices reached Rs 14.64 lakh crore, marking an 11.9% increase. The agriculture and allied sectors saw a 4% growth in Gross Value Added (GVA), crucial as they employ 47.3% of the state’s population. The industrial sector grew by 10.1%, while the services sector, the main driver of economic growth, recorded a remarkable 14.6% increase in GVA.
Telangana’s PCI rose from Rs 1,24,104 in 2014-15 to Rs 3,47,299 in 2023-24. However, during the same period, the state’s total debt surged from Rs 72,658 crore to Rs 6,71,757 crore, an increase of over 824.5%. Consequently, per capita debt also rose from Rs 20,251 to Rs 1,76,360.
The sharp rise in debt compared to income growth highlights a heavy reliance on borrowing, which could threaten fiscal stability. The Economic Survey emphasizes the need for strict fiscal reforms to balance spending with revenue generation and reduce dependence on borrowing, ensuring long-term economic stability.
