New Delhi : Among the states in India, Gujarat has topped as most resilient State in FY2021, according to a comparative analysis made by PHD Chamber of Commerce and Industry on the macroeconomic resilience of the States in the pandemic times for FY 2019-20 and FY 2020-21.
The five broad macroeconomic parameters on the basis of which the analysis was made include Gross State Domestic Product (GSDP) growth rate, Consumer Price Index (CPI), Inflation, Fiscal Deficit as percentage of GSDP and Industrial Investment Proposals and Unemployment, said Pradeep Multani, President of PHDCCI.
The comparative analysis is the part of PHD Chamber of Commerce and Industry’s report titled ‘States’ Policy Conclave 2021: Role of States’ in Making Atmanirbhar Bharat (Self-reliant India)’, which was released recently at the States Policy Conclave 2021 organised by PHDCCI.
The Conclave was attended by Ajay Bhatt, Minister of State for Defence and Tourism, Government of India, Rajeev Talwar, Former President, PHD Chamber, Sanjay Aggarwal, Immediate Former President, PHD Chamber, Pradeep Multani, President, PHD Chamber; Saurabh Sanyal, PHD Chamber and Dr S P Sharma, Chief Economist | DSG, PHD Chamber.
The report brings together the profiles of the socio-economic developments of all Indian States, ease of doing business in States, startup ecosystem of States and macroeconomic resilience of the States. The report also highlights the suggestive measures for the growth and development of the States, Multani said in a release.
According to the performance in key economic indicators, the top States (in order of succession) in 2020-2021 were Gujarat, Karnataka, Odisha, Maharashtra, NCT Delhi, Telangana, West Bengal, Uttar Pradesh, Madhya Pradesh and Chhattisgarh, Multani added.
Gujarat emerged as the most resilient State and maintained its top position among the top 10 States in FY 2020-21 as the State was also at top in FY 2019-20, in keeping with the five broad economic parameters, Multani added.
Karnataka has emerged as the second most resilient State, whose position improved from fourth rank in FY 2019-20 to 2nd in FY 2020-21. Similarly, Odisha has improved from 7th position in FY 2019-20 to 3rd in FY 2020-21, according to Multani.
Maharashtra, NCT Delhi, Telangana, West Bengal, Uttar Pradesh, Madhya Pradesh and Chhattisgarh are the other strong States in top 10 resilient States in FY 2021, the PHDCCI added.
