If you are asked who is the richest state of India, then you may be a little confused. But the latest figures show that Maharashtra still remains the richest state in the country. This state makes the biggest contribution to India’s GDP (GDP). According to a working paper by the Prime Minister’s Economic Advisory Council (EAC-PM), Maharashtra’s stake in the National GDP in FY 2023-24 was 13.3%. Although the figure is slightly higher than 13% of 2020–21, it has fallen a decline compared to 15.2% of 2010-11. Despite this, Maharashtra still remains the major economic power center of India.
Strong progress of Gujarat
Maharashtra is at the forefront of GDP, but in the last few years, Gujarat has also shown great economic growth. Gujarat’s stake in India’s GDP in 2010-11 was 7.5%, which increased to 8.1% in 2022-23. This indicates that Gujarat is constantly strengthening its economic status at the national level.
However, Maharashtra has lagged behind states like Gujarat, Telangana, Haryana and Karnataka in terms of per capita income. In the year 2023-24, the following states on the basis of per capita income were the following:
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Sikkim: 319.1%
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Goa: 290.7% (2022-23 data)
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Delhi: 250.8%
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Telangana: 193.6%
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Karnataka: 180.7%
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Haryana: 176.8%
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Tamil Nadu: 171.1%
Dual position of Maharashtra
Although Maharashtra is the most contributed state to GDP, it is lagged behind in terms of per capita income. It simply means that while the total economy of the state is strong, on the other hand the individual economic prosperity of the residents of the state is less than in other states. This situation states that Maharashtra is playing a major role in the economic growth of the country, but the rapid progress of Gujarat and other states may further increase competition.
Maharashtra topped in registration of new companies
According to a recent report, Maharashtra has also won the registration of the most new companies in the first 10 months of FY 2024-25 (April 2024 to January 2025). During this time in Maharashtra 21,000 New companies were registered, which stood first in the country. after this Uttar Pradesh Second with 15,590 companies Delhi Finished third with 12,759 companies.
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