Hyderabad: It has been widely claimed that Hyderabad was affected by long periods of political stand-offs during the Telangana protests. However, economic growth numbers tell a different story, one from which Hyderabadis can take solace. During the period of protests and uncertainty, Hyderabad managed to beat Bengaluru in terms of growth in per capita income and job creation.
A report by US-based Brookings Institution states that per capita income in Hyderabad grew by 5.2 per cent in 2009-14, compared to 4.8 per cent in Bengaluru.
Although the difference is marginal, it is a significant feat considering the backdrop in which it occurred — political uncertainty that dogged Hyderabad in the last five years after the death of YSR, and prolonged protests for Telangana.
“There was a lot of development in the IT sector and many companies had set up their offices in the business district prior to 2009. And this impact was felt in 2009-2014,” said Mr Shiv Kumar Rungta, the president of FAPTCCI.
Mr Devendra Surana, a former FAPTCCI president, said the city had seen a steady growth in the services sector even during the uncertain period as the cost of living was the lowest compared to other metros..
The Brooking’s Global Metro Monitor, which tracks 300 top city economies, also shows that a Hyderabadi is also, on average, marginally richer, than a Bengaluru resident. Per capita income in Hyderabad is $5,063, compared to Bengaluru’s $5,051.
