Jharkhand’s GDP growth is more than the country, per capita income crosses 1 lakh, Finance Minister presented Economic Survey in the Assembly

Ranchi: Jharkhand Finance Minister Radhakrishna Kishore presented the Jharkhand Economic Survey Report -2025-26 in the Assembly on Saturday. According to this, the state’s GDP has doubled in 2024-25 as compared to 2011-12. It has been told in the report that Jharkhand’s GSDP at constant prices was Rs 1,50,918 crore in the financial year 2011-12, which increased to Rs 3,03,178 crore. Nominal GSDP reached Rs 5,16,255 crore, an increase of more than three times over the same period. Real growth in 2024-25 was 7.02 per cent, higher than the national rate of 6.5 per cent and the fourth consecutive year of growth above 7 per cent.

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The post-pandemic recovery has been particularly strong

The actual CAGR during 2020-21 to 2024-25 was 8.4 percent. Jharkhand outperformed the national growth rate in four of the seven years between 2018-19 and 2024-25. The contraction of 5.30 per cent in the pandemic year was less severe than the national decline of 5.8 per cent. Linear trend projections based on post-corona pandemic data suggest that real GSDP is expected to reach Rs 3,21,892 crore in 2025-26 and Rs 3,41,064 crore in 2026-27, representing growth of 6.17 per cent and 5.96 per cent, respectively. Is.
Estimated to reach Rs 6,08,182 crore by 2026

At current prices, GSDP is projected to cross Rs 5.6 lakh crore (Rs 5,61,010 crore) in 2025-26 and approach Rs 6.1 lakh crore (Rs 6,08,182 crore) in 2026-27. The projected reduction in growth rates is in the range of 7.0 per cent to around 6.0 per cent, consistent with the transition from post-pandemic recovery to a more sustainable long-term expansion path. Per capita income at current prices crossed the Rs 1 lakh mark for the first time, reaching Rs 1,16,663 in 2024-25. Real per capita income increased to Rs 68,357, an increase of 65.7 per cent from 2011–12 levels, at a CAGR of about 4.0 per cent.

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Alignment with national per capita income

The state’s per capita income has stagnated at about 60 per cent of the national average since 2016-17, indicating that Jharkhand has largely kept pace with national income growth. Projections show that per capita income at constant prices is expected to reach Rs 71,944 in 2025-26 and Rs 75,670 in 2026-27, an increase of 5.25 per cent and 5.18 per cent, respectively. At current prices, per capita income is projected to increase to Rs 1,25,677 in 2025-26 and Rs 1,35,195 in 2026-27.
decrease in inflation

Inflation averaged around 4.0 per cent in 2024-25, a marked downward trend from 6.0 per cent in 2023. Core inflation remained stable in the range of 2.5-3.0 per cent, which is well within the RBI’s target. The rural-urban inflation gap, which stood at 1.8 percentage points in 2023, was essentially closed by 2024.
With nominal per capita income rising at about 9.5 percent and CPI inflation at 4.0 percent, real per capita income growth of about 5.3 percent indicates solid gains in purchasing power. There has been a significant change in the structure of the economy. Services have overtaken industry to become the largest sector.

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