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**India’s State-Wise GDP Contribution in 2024: Regional Insights** India’s economic landscape in 2024 shows significant regional disparities. Maharashtra leads with a **13.3%** contribution to the national GDP, followed by Tamil Nadu at **8.9%** and Uttar Pradesh at **8.4%**. These states drive growth through robust industrial, financial, and service sectors. A report from the **Economic Advisory Council (September 2024)** highlights that western and southern regions, including Maharashtra and Tamil Nadu, outperform the rest of the country. In contrast, the **eastern region**, especially **West Bengal**, faces economic challenges, with the state experiencing a steady decline in its relative economic performance over the years. This imbalance calls for targeted strategies to promote growth in underperforming regions, ensuring more equitable development across the country. #IndiaGDP2024 #MaharashtraEconomy #TamilNaduGrowth #UttarPradeshEconomy #WestBengalDecline #RegionalDisparities #IndianEconomy #EconomicGrowth #EasternIndia #SouthernIndia #WesternIndia #GDPContributions #EconomicDevelopment

India is expected to be an upper middle-income country by fiscal 2031. At the macroeconomic level, this means that with rising incomes, the share of essential items (e.g. food) will reduce in private consumption, while the share of discretionary items (e.g. consumer durables and automobiles) will rise. A UNCTAD discussion paper showed that expenditure on consumer durables grows faster than per capita income when per capita income is $4000-35000. Private consumption accounts for the largest share of GDP, at 57%. Therefore, if India becomes an upper-middle country by Fiscal 2031, it can boost the demand for discretionary goods like automobiles. The car density in a country rises with per capita income, with sharp gains in middle income segment.  India is currently at the start of curve, which makes the demand outlook for these goods attractive. Courtesy : CRISIL #investing #economy

India's Economic Pulse: A Look at State-wise GDP Contributions in 2024 The Economic Advisory Council's recent report unveils India's state-wise GDP contributions for 2024. Maharashtra leads with a significant 13.3%, followed by Tamil Nadu (8.9%) and Uttar Pradesh (8.4%). The powerhouse regions driving India's economy, particularly in the south and west, are clearly outlined. Southern states like Tamil Nadu, Karnataka, and Kerala are strengthening their economies, alongside contributions from Gujarat and Rajasthan. Smaller states and union territories are striving to bridge the gap. This breakdown emphasizes the concentration of economic activity and underscores growth opportunities in developing regions. #Economy #GDP #India2024 #BusinessGrowth #PolicyInsights #EconomicDevelopment

India's GDP (Gross Domestic Product) is a key indicator of the country's economic health and performance. As one of the fastest-growing major economies globally, India's GDP has been on a significant upward trajectory in recent years. The GDP of a country represents the total monetary value of all goods and services produced within its borders in a specific period, usually annually. India's GDP has been driven by various sectors such as agriculture, manufacturing, and services. The services sector, including information technology, telecommunications, and financial services, has been a major contributor to India's GDP growth. Additionally, the government's initiatives to promote manufacturing through programs like Make in India have further boosted economic growth. However, India's GDP growth rate has experienced fluctuations due to factors like global economic conditions, domestic policies, and natural disasters. It is essential for the government to focus on sustainable economic policies to ensure continued growth and stability in the GDP. #IndiaGDP #EconomicGrowth #IndianEconomy #GDPStatistics #MakeInIndia #ServicesSector #ManufacturingGrowth #EconomicIndicators #GlobalEconomy #SustainableGrowth

India's richest and poorest states Maharashtra is the biggest contributor to India's GDP but, in terms of per capita income, it's not among the top five richest states. In fact, India's youngest state features in the list. https://lnkd.in/gu87fTTj

The five large southern states together accounted for approximately 30% of India's GDP in the financial year ending March 2024. Interestingly, Telangana is the youngest state in India, split out of Andhra Pradesh on June 2, 2014. The per capita income in the five large southern states — Karnataka, Andhra Pradesh, Telangana, Kerala and Tamil Nadu — was less than the national average in 1991. However, since the historic liberalisation, these five states have grown by leaps and bounds.

Chief Economic Advisor N Anantha Nageswaran has reacted to India's GDP growth slowing to 5.4% in Q2 of the financial year 2024-25, saying, 'It's disappointing, but it's not an alarming situation.' The country's GDP growth slowed to a nearly two-year low. Nageswaran added that there are some 'bright spots' like the agriculture and allied sector and construction sector. key note: India's Q2 GDP growth slowed to 5.4%, but sectors like agriculture and construction remain strong, signaling resilience in specific areas of the economy. What steps can India take to sustain its economic momentum despite a dip in GDP growth? #IndiaGDP #EconomicGrowth #IndiaEconomy #BusinessNews #Finance #Agriculture #Construction #EconomicInsights #IndianIndustry Prof. (Dr.) Tapan Kumar Nayak Dr.Rajeev Mathew Jaipuria School of Business, Ghaziabad

RBI Governor Confident in India’s Economic Growth for FY 2024-25 Despite a moderation in India's Q1 GDP growth, the Reserve Bank of India Governor, Shaktikanta Das, remains optimistic about achieving the projected full-year growth of 7.2%. l Q1 Growth Slowdown: India's GDP grew 6.7% YoY in April-June, below the estimated 6.9% due to reduced government spending during national elections. l Key Growth Drivers: n Agriculture: Expected to perform better due to a good monsoon, boosting rural demand. n Investment Activity: Government capital expenditure is set to increase, further driving growth. Governor Das emphasized that consumption and investment demand are growing in tandem, signaling a strong and sustainable growth path. Inflation Concerns: While the balance between inflation and growth remains stable, volatile food inflation poses challenges, requiring a focus on price stability. #IndiaEconomy #GDPGrowth #RBIGovernor #businessloans #workingcapitalloans #msmeloans #smeloans #lineofcredit #Pumpkin #PumpkinBusinessLoan #DaPumpkin

#MazarsOutlook | India's GDP growth rate reached 8.4% in Q3 FY24, surpassing the 6.7% street estimate and 6.3% World Bank forecast. The manufacturing and construction sectors contributed significantly to this growth, with annual expansions of 11.6% and 9.5%, respectively. However, government consumption contracted by 3.2% during the same period.   Want to delve deeper into India's economic landscape and the implications of the 2024 elections?  Read the full India Macro-tracker series report for comprehensive insights. https://lnkd.in/gkyGgvC7   Bharat Dhawan | Gul Basantani | Rahul Singhal FCA, ACMA | Dr. Sanjay Bhhardwaj | Shree Parthasarathy | Ankur Malhotra   #ThoughtLeadership #Article #MacroTracker #Tracker #Mazars #MazarsinIndia

•𝗜𝗻𝗱𝗶𝗮 𝗥𝗮𝘁𝗶𝗻𝗴𝘀 𝗮𝗻𝗱 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗼𝗻 𝗚𝗗𝗣📈🇮🇳 👉 India to become an Upper Middle Income country by FY36 if real GDP growth is maintained at 6.25%, thus reaching $15 trillion by FY47. 👉 A steady growth of 8% p.a. could make it the $15 trillion by FY43 but what matters is the real GDP growth, the Index and the exchange rates over the time. 👉 As per Ind-Ra, India attains to be a developed economy by achieving the mark of $30 trillion by 2047 which requires the growth of 9.7℅ p.a. Such a growth rate is challenging for longer periods. Note 📝- Real GDP is the GDP valued at Base Year Prices (the year which is free from price fluctuations) . . . . Follow Rishabh Jain for more such content. . . . #indianeconomy #gdpgrowth #rating #research #postoftheday #linkedin #1kfollowers