PR No – 436
20th July, 2023
Many States Resilient in Maintaining Economic growth and Addressing Inflation Escalations: PHD Chamber
Amidst the global turbulence and inflationary pressures, 18 states showed satisfactory economic recovery with post-pandemic GSDP growth rates (at current prices) above 10% (average FY 2022, FY 2023), said an analysis conducted by PHD Research Bureau, PHD Chamber of Commerce and Industry.
6 states have emerged as best inflation managers with their efforts to curb post pandemic inflation below 5% (average FY 2022, FY 2023 ), said industry body PHDCCI
The analysis has been undertaken on 20 states as per the availability of data for the states, including Gujarat, Telangana, Tamil Nadu, Madhya Pradesh, Odisha, Delhi, Rajasthan, West Bengal, Haryana, Andhra Pradesh, Maharashtra, Karnataka, Bihar, Jharkhand, Chhattisgarh, Kerala, Uttar Pradesh, Himachal Pradesh, Punjab and Uttarakhand, said industry body PHDCCI.
The analysis is based on scoring of states in terms of their GSDP growth rates at current prices and CPI inflation for the post pandemic years i.e., FY 2021-22 and FY 2022-23 (average).
Gujarat, Telangana, Tamil Nadu, Madhya Pradesh, Odisha and Delhi have attained the GSDP growth rate (current prices) of more than 15% in the post pandemic years, said Mr. Saket Dalmia, President, PHD Chamber of Commerce and Industry.
Chhattisgarh, Odisha, Delhi, Bihar, Kerala and Jharkhand have emerged as the best CPI Inflation managing states in the post pandemic years as they managed to keep their average CPI Inflation below 5%, said Mr. Saket Dalmia.
The dynamic policy environment along with the calibrated approach of RBI have been instrumental in enhancing growth rates of states and bringing down Inflation below 5%, said Mr. Saket Dalmia.
Overall, Gujarat, Delhi, Odisha, Tamil Nadu, Chhattisgarh, Rajasthan and Bihar have emerged as most resilient states by maintaining high economic growth and low to moderate inflation, said Mr. Dalmia
Full Report Attached
PHD Chamber of Commerce and Industry