RBI: Telangana is 7th largest contributor to economy
TRS hypes incomplete RBI report that put state at 4th spot
HYDERABAD: The latest report of the Reserve Bank of India places Telangana state at the seventh spot among the largest contributors to the national economy. The report, ‘Handbook of Statistics on the Indian Economy 2021-22,’ was released on September 15. The data of two states are missing from the report that was released on September 15. Both the states that were not mentioned, Maharashtra and West Bengal, were ahead of Telangana last year. If they stay ahead, TS may still slip to the ninth spot. That would be an improvement by one rank.
The RBI updated handbook of last year (2020-21) and released it recently. The updated data puts TS at the tenth spot. The handbook with incomplete data had placed TS at fourth spot, with data from 12 states missing.
In the updated handbook, also made public on September 15, Telangana is ranked six spots lower, at tenth with the data of the remaining 12 states added. The TRS has been asserting that it is the fourth largest contributor to the economy, using last year's incomplete RBI report. Even two days after the RBI had released its updated handbook on September 15, industries minister K.T. Rama Rao reiterated that Telangana was the fourth-largest contributor to the economy.
Telangana, he claimed, had just two per cent of the nation’s population but contributed the fifth-largest share of its GDP. Telangana’s per capita income, which was Rs.1,24,000 in 2014, increased by 130 per cent to Rs.2,78,000 in seven years, according to the government. In the same year, the Gross State Domestic Product increased from Rs.5.6 lakh crore in 2014 to Rs.11.54 lakh crore.
Last year, the Net State Value Added (NSVA) of TS was put at Rs.8,10,503 crore, trailing Maharashtra (Rs.23,93,953 cr) Tamil Nadu (Rs.15,44,935cr), Karnataka (Rs.13,40,350 cr), and West Bengal (Rs.11,04,866 crore).
When it was revised, Maharashtra topped the list with Rs.23,93,953 crore followed by Tamil Nadu with `16,17,931 crore, Karnataka Rs.15,75,000 crore, Gujarat Rs.14,59,229 crore, Uttar Pradesh Rs.14,25,330 crore, West Bengal Rs.11,86,857 crore, Andhra Pradesh Rs.9,17,920 crore, Rajasthan Rs.9,14,262 crore, Madhya Pradesh Rs.8,81,530 crore and Telangana with Rs.8,68,926 crore as its contribution to the national economy.
According to latest RBI handbook noted that the NSVA of the state climbed to Rs.10,41,617 crore, which placed TS at seventh spot trailing Karnataka (Rs.18,70,429 cr), Tamil Nadu (Rs.18,45,519 crore), Uttar Pradesh (Rs.16,14,798 crore), AP (Rs.10,85,625 cr) Rajasthan (Rs.10,78,903 crore) and Madhya Pradesh (Rs.10,61,297 crore). Notably, Gujarat appears to have fallen out of this list.