J&K is India’s Fastest Growing Economy. Check out Stats!
Jammu and Kashmir and Arunachal Pradesh were the fastest expanding State economies in 2015-16, according to a new series of gross State domestic product data with 2011-12 as the base year published by the Central Statistics Office. The two States also reported the fastest rise in per capita income in the same year. Arunachal Pradesh’s gross State domestic product (GSDP) expanded 16.5 per cent and that of Jammu and Kashmir 14.7 per cent at constant 2011-12 prices.
Rising per capita income
Per capita income in Jammu and Kashmir and in Arunachal Pradesh rose by more than 14 per cent at constant 2011-12 prices, while the rise at the national level was only 6.8 per cent. Yet, the per capita income in these States was just a fraction of that in richer States and territories such as Delhi. The rapid expansion of Jammu and Kashmir’s GSDP came after a 0.3 per cent contraction in 2014-15 when the State was hit by its worst flood in 60 years following heavy monsoon rains. The Arunachal Pradesh economy, in comparison, had expanded at a similar pace that year.
These two were not the only States to record double-digit growth in the year. Other State economies to record double-digit expansion were Goa (11.5 per cent), Gujarat (11.1 per cent), Andhra Pradesh (11 per cent), Mizoram (10.9 per cent) and the Union Territory of Puducherry (10.3 per cent).