Skip to main content

Gujarat ranks ninth in economic growth rate, is behind UP, West Bengal in contribution to national GDP

Gross domestic product in billion US dollars
A top financial consulting firm, Unidow Finances Intelligence Services, has, in its recent analysis, ranked Gujarat No 9th in the percentage of growth in gross state domestic (GSDP). While Gujarat’s growth at current prices in 2012 – for which he made public data – was 15.33 per cent, the states which performed better that Gujarat were Maharashtra (16.86 per cent), Rajasthan (21.91 per cent), Kerala (16.97 per cent), Haryana (16.06 per cent), Madhya Pradesh (19.02 per cent), Bihar (24.40 per cent), Chhattisagarh (18.26 per cent), and Jammu & Kashmir (15.80 per cent).
The top consultants has also found that Maharashtra contributes most in the gross domestic product (GDP) of India, with 14.95 per cent, followed by Uttar Pradesh (8.23 per cent), Andhra Pradesh (8.09 per cent), Tamil Nadu (7.65 per cent), West Bengal (6.48 per cent) and Gujarat (6.14 per cent). It is not known why the consultants have not made public figures post-2012, but according to official sources, one of the major reasons could be that Gujarat and a few other states have still not handed over GSDP figures to India’s Planning Commission.
The only official information about Gujarat’s state domestic product for 2012-13 is “Statements under the Gujarat Fiscal Responsibility Act, 2005”. Released about a year ago, it finds that the GSDP rate for 2012-13 was 13.98 per cent, at current prices, which is lower than the previous year, for which Unidow – which is based in Noida, which is part of the Delhi National Capital Region – has provided figures. However, being advanced estimates, these cannot be taken as final.
More, what the budget book or the consultants do not say is, the current price rate of growth of gross state domestic product (GSDP) does not take into the inflationary factor. According a senior economist's calculation, at constant prices, Gujarat’s growth rate in 2012-13 would be around 5.68 per cent, if what is called “deflator” is taken into account. Gujarat’s deflator, according to this economist, was 8.3 per cent in 2012-13. If this is true, in 2012-13, Gujarat’s growth rate was equal to all-India average.
Unidow claims to combine “economic intelligence and research”, helping foreign companies in “scenario planning, selection of unbelievable locations for competitive advantage to maximize profits and improving overall efficiency of different business verticals of a company to mitigate corporate risk such as the political risk, regulatory compliance, geopolitical risk -- whether its strategic or operational risk.” It is, however, not known why it refuses to give GSDP rates at current prices – which show the real growth of each state.
Meanwhile, Unidow says it has “revised” political outlook of India to "stable" amid Lok Sabha polls this year. “India's major opposition party BJP is expected to win more than 210 constituencies, which will give a stable government at the centre”, it says. It suggests, this analysis has been arrived on the basis of “prowess researches and studies from the cornerstone of the economy to the important range of government policies.”
Yet, Unidow analysis  is significant, as Gujarat development has already become an issue of national debate. Believing that its analysis is quite "exclusive", as it claims, it contends, “Unidow specializes in exclusive economic data provider and core policy research of India, which includes study on economic policies, central bank policies, India's foreign policies, industrial researches and other prominent areas to deliver key results to corporations, federal government agencies, academician, students and individuals.”

Comments

TRENDING

When Pakistanis whispered: ‘end military rule’ — A Moscow memoir

During the recent anti-terror operation inside Pakistan by the Government of India, called Operation Sindoor — a name some feminists consider patently patriarchal, even though it’s officially described as a tribute to the wives of the 26 husbands killed in the terrorist strike — I was reminded of my Moscow stint, which lasted for seven long years, from 1986 to 1993.

Despite Hindutva hold claim, 18% Hindus in US don't want to be identified with Hinduism!

Scanning through news items on the Google News app on my mobile — which is what I do almost every morning — I came across a story published on India.com, which I found somewhat misleading. The headline said, "Muslim population drops significantly in THIS country as over 25% Muslims leave Islam due to…, the country is…"

Tracking a lost link: Soviet-era legacy of Gujarati translator Atul Sawani

The other day, I received a message from a well-known activist, Raju Dipti, who runs an NGO called Jeevan Teerth in Koba village, near Gujarat’s capital, Gandhinagar. He was seeking the contact information of Atul Sawani, a translator of Russian books—mainly political and economic—into Gujarati for Progress Publishers during the Soviet era. He wanted to collect and hand over scanned soft copies, or if possible, hard copies, of Soviet books translated into Gujarati to Arvind Gupta, who currently lives in Pune and is undertaking the herculean task of collecting and making public soft copies of Soviet books that are no longer available in the market, both in English and Indian languages.

Beyond Indus water treaty suspension: A 'nationalist' push despite harsh climate realities

The suspension of the Indus Water Treaty (IWT) appears to have pushed the middle classes, at least in Prime Minister Narendra Modi's home state, Gujarat, further towards what the powers-that-be would consider—a "positive" direction. As usual, during my morning walk, I tried talking with a neighbour about what impact it would have. Ignoring what is widely considered a "security lapse," this person, who had just returned after buying milk, compared the Modi move with Trump.

Adani Group a key player in Indo-Israel defence cooperation: Tel Aviv daily

Said to be one of the most influential Israeli dailies, "Haaretz" (literally: News of the Land) has identified the Adani Group—known to be close to Prime Minister Narendra Modi—as one of the key Indian business houses engaged in defence cooperation with Israel. Pointing out that India supplied the Israeli military with Hermes 900 drones, the daily reported that this advanced aerial vehicle came off “the production line in a factory set up in Hyderabad, as part of the cooperation between the Israeli Elbit and India's Adani Group.”

A sector under siege? War and real estate: Navigating uncertainty in India's expanding market

I was a little surprised when I received an email alert from a top real estate consultant, Anarock Group , titled "Exploring War’s Effects on Indian Real Estate—When Conflict Meets Concrete," authored by its regional director and head of research, Dr. Prashant Thakur. I had thought that the business would wholeheartedly support what is considered a strong response to the dastardly terrorist attack in Pahalgam, Operation Sindoor. 

A conman, a demolition man: How 'prominent' scribes are defending Pritish Nandy

How to defend Pritish Nandy? That’s the big question some of his so-called fans seem to ponder, especially amidst sharp criticism of his alleged insensitivity during his journalistic career. One such incident involved the theft and publication of the birth certificate of Masaba Gupta, daughter of actor Neena Gupta, in the Illustrated Weekly of India, which Nandy was editing at the time. He reportedly did this to uncover the identity of Masaba’s father.

Environmental concern? Global NGO leads campaign urging banks to cut ties with Odisha steel project

A decade after the withdrawal of the South Korean multinational POSCO from Odisha following large-scale protests, questions remain about whether India-based JSW Steel, which took over the project, can successfully revive the 13.2 million tonnes per annum (MTPA) steel plant and coal-fired power plant. POSCO initiated the project in 2005 but exited in 2017 due to sustained local opposition.

Irrational? Basis for fear among Hindus about being 'swamped' by Muslims

I was amused while reading an article titled "Ham Paanch, Hamare Pachees", shared on Facebook, by well-known policy analyst Mohan Guruswamy, an alumnus of the John F. Kennedy School of Government, Harvard University, and the Graduate School of Business, Stanford University. Guruswamy, who has also worked as an advisor to the Finance Minister with the rank of Secretary to the Government of India, seeks to probe, as he himself states, "the supposed Muslim attitude to family planning"—a theme that was invoked by Narendra Modi as Gujarat Chief Minister ahead of the December 2002 assembly polls.

Olympics ready? Overflowing gutters in Amit Shah's high profile constituency: Vejalpur, beyond

A few days ago, I was talking to a close acquaintance who used to live in Bawla, a small town about 35 km west of Ahmedabad. It's an industrial hub with rice processing mills, cotton ginning units, and pharmaceutical companies. The acquaintance, from a very ordinary middle-class background, lived there because his son worked in one of the major pharmaceutical units nearby. However, he recently moved to a housing society in Ahmedabad, and I asked him why.