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

Why predictions of an imminent collapse of the Russian economy may be wrong

A veteran Canadian journalist, settled in Russia, stated in a Facebook post that President Donald Trump "is apparently listening to experts who tell him that Russia's economy is on the verge of 'imploding,' and if he just squeezes a bit harder," his Russian counterpart Vladimir Putin "will fall into line."

Talking of increased corporate control over news, Rajdeep Sardesai 'evades' alternative media

When I received an intimation that well-known journalist Rajdeep Sardesai was to speak at the Ahmedabad Management Association (AMA) on February 2, my instant reaction was: I know what he is going to say—his views are quite well known; he wouldn’t be saying anything new. Yet, I decided to go and listen to him to catch his mood at a time when the media, as he (and I) knew it, is changing fast due to the availability of new technological tools that were not accessible even a decade ago.

DeepSeek censors uncomfortable queries on China, but why's Gemini so touchy on India?

The powerful Chinese AI app DeepSeek, which has taken the Silicon Valley by surprise, as it has capacities matching Google’s Gemini and Open AI's ChatGPT, is being criticised for restricting free speech, and rightly so. It is being said that those signing up for the chatbot and its open-source technology "are being confronted with the Chinese Communist Party’s brand of censorship and information control."

Gujarat a police state? How top High Court advocate stunned a senior-most journalist

Rajdeep Sardesai, Anand Yagnik This is a continuation of my earlier blog on well-known journalist Rajdeep Sardesai's lecture in memory of the late Achyut Yagnik at the Ahmedabad Management Association (AMA). I was a little surprised when I received the intimation about the venue for the lecture.

5% poor in India? Union govt claim debunked, '26.4% of population below poverty line'

A recent paper, referring to the Household Consumption Expenditure Survey (HCES) 2022-23 of the Government of India (GoI), has debunked the official claim that poverty has substantially declined. Titled "Poverty in India: The Rangarajan Method and the 2022–23 Household Consumption Expenditure Survey", the paper —authored by scholars CA Sethu, LT Abhinav Surya, and CA Ruthu—states that "more than a quarter of India’s population falls below the poverty line."

Gujarat's water anarchy? 16.7% of Narmada water going to industry, 33% of targeted area irrigated: Govt insider

The Narmada project is something that has always excited me, including how much water will be distributed and to which sector. A few days ago, when I was talking to a top Gujarat government insider, I was a little surprised when I was told that it is up to the “respective states to decide how much Narmada water they would distribute among various sectors” out of the total quota allocated to the four states—Madhya Pradesh, Gujarat, Maharashtra, and Rajasthan—as per the Narmada Water Disputes Tribunal award of 1979.

Russians at a Bali yoga camp to avoid drafting for war? Things aren't any different in Ukraine

Are people in Russia becoming frustrated with the prolonged war in Ukraine? And is the war having a similar impact on the people of Ukraine? I have no firsthand information about this, but it is well known how nationalist hysteria often seeks to conceal such frustration, particularly among the youth.

I'm flattered: A New York media house claims I was a KGB agent! Wow, I didn't know that

I was astonished, let me say pleasantly surprised, on receiving a comment by Rich TVX News  on my blog   "Why predictions of an imminent collapse of the Russian economy may be wrong" (January 28).  I don't know who wrote the strange comment from this "media house", which is based in New York, and claims to "hold sway not only among the masses but also within global corridors of power, influencing esteemed politicians and shaping international diplomacy, especially evident during pivotal events like the ongoing crisis in Ukraine."

A shocker for parents? Rush for 'prestigious' varsity degrees to reduce; instead, industry may prefer skills

Recently, I had a conversation with a senior researcher working on a project for a consumer goods multinational corporation (MNC) at one of the top institutes abroad. Insightful and articulate, he holds a PhD from a prestigious university and has a remarkable ability to analyze social dynamics. I am withholding his name because our discussion took place informally during a friend’s lunchtime gathering.