Telangana has shown strong economic growth in 2024, surpassing many developed states in India. The state’s Gross State Domestic Product (GSDP) and per capita income have significantly increased in the 2023-24 financial year. Telangana’s contribution to India’s GDP rose to 5.1% from 4.9% in 2022-23.
According to the Telangana State Statistical Abstract 2024, released by Deputy Chief Minister Mallu Bhatti Vikramarka, the state’s GSDP reached Rs 15.01 lakh crore in 2023-24, up from Rs 13.11 lakh crore in 2022-23. This growth rate is higher than the national average.
Over the last decade (2013-2024), Telangana’s average annual GSDP growth rate was 12.9%, compared to India’s GDP growth rate of 10.3% during the same period. This placed Telangana among the fastest-growing states in the country.
Telangana ranked seventh in GSDP growth among all Indian states. The tertiary sector, which includes services like IT and finance, played a major role, contributing Rs 9.23 lakh crore to the total GSDP. The primary and secondary sectors, including agriculture and manufacturing, also saw steady growth due to increased investments.
In terms of the five-year average annual GSDP growth rate, Telangana secured the top position with a 12.06% growth rate between 2013 and 2024. It outperformed states like Gujarat, Maharashtra, Tamil Nadu, Karnataka, and Uttar Pradesh during this period.
Per capita income (PCI), which measures the average income per person, also saw impressive growth in Telangana. In 2023-24, the state’s PCI reached Rs 3,56,564, the highest among National Statistical Commission (NSC) states. In comparison, India’s overall PCI was Rs 1,84,205 in the same year.
Telangana ranked third in per capita income in 2024, improving from its fifth-place ranking in 2023. Only Sikkim and Delhi had higher PCI figures. The Telangana Development Planning Society compiled this data, highlighting the state’s rapid economic progress and effective policy initiatives.
