According to a working paper from the Economic Advisory Council to the Prime Minister (EAC-PM), Maharashtra’s share in the national GDP stood at 13.3 percent in 2023-24
New Delhi: Maharashtra remains India’s richest state, contributing the highest share to the country’s Gross Domestic Product (GDP). According to a working paper from the Economic Advisory Council to the Prime Minister (EAC-PM), Maharashtra’s share in the national GDP stood at 13.3 percent in 2023-24, slightly up from 13 percent in 2020-21 but significantly lower than 15.2% in 2010-11. It is important to note that despite the decline over the years, the state remains the largest economic powerhouse in India.
Gujarat Witnessing A Steady Rise:
Gujarat has shown impressive economic growth over the period. Gujarat’s share in India’s GDP has increased from 7.5 percent in 2010-11 to 8.1% in 2022-23.
However, when it comes to relative per capita income compared to the national average, Maharashtra has fallen behind states like Gujarat, Telangana, Haryana, and Karnataka. In 2023-24, the states leading in relative per capita income were:
- Sikkim: 319.1%
- Goa: 290.7% (for 2022-23)
- Delhi: 250.8%
- Telangana: 193.6%
- Karnataka: 180.7%
- Haryana: 176.8%
- Tamil Nadu: 171.1%
Maharashtra’s lower per capita income indicated that while it remains the largest contributor to GDP, other states are also moving forward in individual prosperity. As a key driver of India’s economic growth, Maharashtra faces increasing competition from Gujarat and other rapidly growing states.
