Assam Per Capita Income Increase
On Monday, Assam released its Per Capita Income statistics for 2014-15. Per Capita Income now stands at Rs. 49,480, from Rs. 13,059 in 2001, a 380% increase over 14 years.
In a press statement, the state government said the current Gross State Domestic Product(GSDP) increased to 14.85 % from 4.07% in 2001-02 (growth rate of 324% over 2001) which was Rs. 38,313 compared to Rs. 1,62,652 in 2013-14.
“As per figures released by the Planning Commission of India, the growth rate of GSDP in Assam during 2011-12 was more than that of many developed states of India such as Gujarat, Orissa, Punjab, Rajasthan, Tamil Nadu, U.P., West Bengal,” the state government noted in the statement.
Nationalized banks and other financial institutions in Assam have also increased the strength of their branches.
“As of 2014-15 total holdings/deposits increased to Rs. 76,795 crore from Rs. 10,992 crore in 2001-02. Bank Lendings/Loans has also increased in the state as compared to Rs. 3,663 crore in 2003-04 to Rs. 33,763 crore in 2013-14. Good economic measures taken up by the state government can be attributed to the overall growth scenario,” the statement showed.
India’s economy is growing everywhere, but some states are very slow, around 1-2 percent, while others expand at 15 percent per annum.
A report in Firstpost Finance says “NITI Aayog vice-chairman Arvind Panagariya on Friday exuded confidence that India could be an $8-trillion economy within next 15 years or even less if it continues with growth-enabling policies.”