The growth story of Rajasthan continues as the economy of desert state is estimated to grow at 12.02% in 2024-25 beating the national average growth rate of 9.7%.
According to recently released Rajasthan Economic Review, the Gross State Domestic Product (GSDP) of Rajasthan at current prices is estimated to reach at ₹17.04 lakh crore as against GSDP of ₹15.22 lakh crore in 2023-24.
The all India GDP is estimated to reach at ₹324.11 lakh crore in 2024-25 as against last year's GDP of ₹295.35 lakh crore.
Rajasthan, being the latest state in area, contributes 5.26% to the nation's GDP.
As per the advance estimates, the per capita income at current prices for the year 2024-25 is estimated to be ₹1,85,053 as compared to 1,66,647 for the year 2023-24, registering a growth of 11.04%.
The growth rate in per capita income also beats the national average of 8.7%, which is estimated to reach at ₹2 lakh in 2024-25.
State on its way to $350 billion economy
According to Rajasthan, Economic Review, the state's journey towards a $350 billion (₹26.25 lakh crore) economy will be fuelled by targeted growth strategies across its key sectors, agriculture, industry and services.
The state has been focused on enhancing its irrigation structure, improving water management, promoting micro irrigation and cultivation of high value crops. For industry, Rajasthan is concentrating on the growth of manufacturing mining and renewable energy. As far as service sector is concerned, it is likely to be driven by tourism, information technology and financial services.
Impact of these sector development is reflected in the Gross State Value Added (GSVA), which is defined as net difference of output and intermediate consumption in any sector.
Gross State Value Added (GSVA) grows at 10.83%
The nominal GSVA at basic current prices for the year 20 2425 is likely retain a level of ₹15.7 lakh crore as against 14.7 lakh crore in the year 2023-24, showing a growth of 10.83% in the year 2024-25 over the year 2023-24.
Ram Kumar Kaushik is a seasoned journalist with over 25 years of experience across mediums. The architect of this news website, he is also a consultant with several media groups. He was formerly the group managing editor of ITV Network (NewsX, India News and The Sunday Guardian) and its digital products.
