It's official now. Gujarat is growing at a rate much faster than the country's average.
During the 10th five-year plan (2002-07), the state's gross state domestic product (GSDP) posted a growth of 10.6%, well ahead of the county's overall growth of 7.7%. It is also much higher than the growth rate of other 'developed' states.
What's more, the state's sustained its growth rate even in 2007-08, the first year of the 11th five-year plan. Gujarat's GSDP grew at 12.8% in 2007-08, and was second only to Karnataka's whose growth rate is marginally higher at 12.9%.
In terms of the GSDP growth achieved during the 10th five-year plan, Gujarat ranks third in the country, notably after smaller states such as Jharkhand at 11.1% and Manipur at 11.6%. Significantly, the actual achieved GSDP in both the plans is well ahead of the 10.2% target set for Gujarat in the 10th five-year plan and 11.2% in the 11th plan.
This data was released in the Rajya Sabha by Union minister of state for planning and parliamentary affairs V Narayanswami, in response to a question raised by Jharkhand MP, Parimal Nathwani. Significantly, for the period of the 10th five-year plan (2002-07), Andhra Pradesh posted a growth rate of 6.7%; Maharashtra 7.9%; Karnataka 7%; Tamil Nadu 6.6% and West Bengal of 6.1%.
But in 2007-08, when India grew at 9%, Andhra Pradesh grew at 10.6%. "The data indicates that Karnataka, Gujarat and Andhra Pradesh are the growth engines of the country," says economist and faculty at the Indian Institute of Management, Ahmedabad, Ravindra Dholakia.