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Gujarat GSDP Growth 17.4% .

Surya 1

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The Finance Minister of Gujarat, Mr Kanubhai Desai, presented the Budget for the state for the financial year 2022-23 on March 3, 2022.

Budget Highlights

  • The Gross State Domestic Product (GSDP) of Gujarat for 2022-23 (at current prices) is projected to be Rs 22,03,062 crore. This is a growth of 13.3% over the revised estimate of GSDP for 2021-22 (Rs 19,44,107 crore). In 2021-22, GSDP is estimated to grow at 17.4% over the previous year (at current prices).
  • Expenditure (excluding debt repayment) in 2022-23 is estimated to be Rs 2,18,408 crore, a 13% increase over the revised estimates of 2021-22 (Rs 1,92,541 crore). In addition, debt of Rs 22,025 crore will be repaid by the state in 2022-23. In 2021-22, expenditure (excluding debt repayment) is estimated to be 3% lower than the budget estimate.
  • Receipts (excluding borrowings) for 2022-23 are estimated to be Rs 1,82,295 crore, an increase of 12% over the revised estimates of 2021-22 (Rs 1,63,270 crore). In 2021-22, receipts (excluding borrowings) are estimated to fall short of the budget estimate.

 

Surya 1

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Is it the second biggest economy in India now? It will be cool to see how different Indian states stack up against each other this year :pop:

Export of Gujarat almost doubled last year. 11 months' export was 110 bn usd. Likely to cross 10 lakh crore for FY 21-22. This double the export of Maharashtea which is next to Gujarat.
 

Wood

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Export of Gujarat almost doubled last year. 11 months' export was 110 bn usd. Likely to cross 10 lakh crore for FY 21-22. This double the export of Maharashtea which is next to Gujarat.
I think Gujarat or Karnataka can compete with Maharashtra for the title of biggest economy soon. Karnataka also has a lot of FDI this year and this can stimulate high growth.
 

Surya 1

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I think Gujarat or Karnataka can compete with Maharashtra for the title of biggest economy soon. Karnataka also has a lot of FDI this year and this can stimulate high growth.

Maharashtra is too much ahead.

More specifically, in the 2020 to 2021 financial year, the state received a grand total of $30bn in FDI, thereby accounting for an impressive 37% of all FDI to India in that time period (followed by Maharashtra with 27% and Karnataka with 13%).22-Nov-2021

Gujarat had received 37% of FDI of India in 2020-21. Don't know about 21-22.

Sophisticated infrastructure, investment friendly atmosphere, surplus electricty, sea connectivity makes Gujarat a very attractive destination. However, most important of all is entrepreneurial nature of people. Gujarat has got very less corrupt government in state for years. This has also contributed a lot.

Karnataka is also a very beautiful state and in competition high growth rate.

 
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Wood

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Maharashtra is too much ahead.
Yes, but others can aim to compete. Seems like Maharashtra, Tamil Nadu and Karnataka have also done incrementally well in exports sector. But Gujarat is in beast mode 8-)

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Wood

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I see more and more businesses coming to Gujarat with corrupt SS government in Maharashtra. Export gap will be widened and GDP gap will narrow.
I don't think corruption is main problem for growth. Industries will expect reliability in policy and stability in politics. Maharashtra has posted increment, but Gujarat has just blasted into orbit :woot:
 

Surya 1

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I don't think corruption is main problem for growth. Industries will expect reliability in policy and stability in politics. Maharashtra has posted increment, but Gujarat has just blasted into orbit :woot:

Maharashtra is a great performer but SS will spoil it I affraid.
 

Sudarshan

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GDP of Karnataka: $243.37 bn
GDP of Gujarat: $284.36 bn
GDP of Tamil Nadu: $320.1 bn
GDP of Maharashtra: $462 bn
(FY2022-23)

1652587295608.png

Uttar Pradesh GDP (2021-22): $281 bn
Which if we assume will grow by 13% nominal this year then it will be $318 bn GDP


I wish these states try to catch up with MH asap, we need $1 trillion economies in various Indian states before 2030.
 

Wood

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View attachment 844053
View attachment 844054
View attachment 844055
View attachment 844056
GDP of Karnataka: $243.37 bn
GDP of Gujarat: $284.36 bn
GDP of Tamil Nadu: $320.1 bn
GDP of Maharashtra: $462 bn
(FY2022-23)

View attachment 844057
Uttar Pradesh GDP (2021-22): $281 bn
Which if we assume will grow by 13% nominal this year then it will be $318 bn GDP


I wish these states try to catch up with MH asap, we need $1 trillion economies in various Indian states before 2030.
I think that Maharastra can reach $1 trillion by 2030 under optimistic global conditions. Other states in your list may reach there before 2035. Some sooner than others. As per latest IMF prediction, India will reach $5 trillion by 2030 🤔
 

Surya 1

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View attachment 844053
View attachment 844054
View attachment 844055
View attachment 844056
GDP of Karnataka: $243.37 bn
GDP of Gujarat: $284.36 bn
GDP of Tamil Nadu: $320.1 bn
GDP of Maharashtra: $462 bn
(FY2022-23)

View attachment 844057
Uttar Pradesh GDP (2021-22): $281 bn
Which if we assume will grow by 13% nominal this year then it will be $318 bn GDP


I wish these states try to catch up with MH asap, we need $1 trillion economies in various Indian states before 2030.


For that, Gujarat will require 17 pc annualized growth rate for 8 years. It seems little bit difficult. However, by 2032, it looks more realistic. It requires 13.4 pc growth which is very easily achievable. I think, by 2031, Gujarat will become a 1 tr usd economy.
 

Sudarshan

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As per latest IMF prediction, India will reach $5 trillion by 2030 🤔
IMF considered massive depreciation in rupee, if we control our currency then I guess we’ll achieve that goal by 2025-26 financial year, and if I’m not wrong we’ll be rebasing our GDP that year as well, so we might end up being $5.4 trillion by FY2025-26, 3 years from now.
 

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