Economics
In News: Emerging from the shock of the Covid-19 pandemic, economies of 19 states and Union Territories exceeded their pre-Covid levels, with seven recording double-digit growth rates during 2021-22, shows an analysis of official data for 21 states and UTs.
- The analysis shows that the size of the Gross State Domestic Product (GSDP) of the 19 states and UTs had contracted or recorded a negligible growth during 2020-21 — the year when the government had imposed a nationwide lockdown in view of the Covid-19 outbreak.
- Their economies bounced back in 2021-22 and exceeded their pre-Covid (2019-20) levels.
- Kerala and Uttar Pradesh are the only exceptions; in 2021-22, their GSDP continued to be below the pre-Covid levels.
- Of these 21 states and UTs, Andhra recorded the highest growth of 11.43 per cent, while Puducherry the lowest (3.31 per cent).
- Besides Andhra Pradesh, five other states and one UT – Rajasthan (11.04 per cent), Bihar (10.98 per cent), Telangana (10.88), Delhi (10.23 per cent), Odisha (10.19 per cent) and Madhya Pradesh (10.12 per cent) – reported double-digit growth rates in 2021-2
- The economies of the remaining 11 states and UTs grew in range of 4.24 per cent to 8.69 per cent during 2021-22.
- Among the big states, Uttar Pradesh registered the lowest growth rate of 4.24 per cent in 2021-22.
- While the sharp jump in the GSDP of some states is due to the base effect, the general trend mirrors the post-pandemic economic recovery.
- In 2021-22, India’s GDP expanded at 8.7 per cent against a 6.6 per cent contraction in 2020-21.
Source: Indian Express
