10 Fastest Growing States of India
Bangalore: Which states in India have the fastest growth rate? Indian states are endowed with rich natural resources. Apart from, focusing on agriculture, many states have made rapid growth in industrialization and other areas as well. Here are the 10 fastest growing states and union territories of India, as listed by rediff.com.
Sikkim is India’s fastest growing state with a growth rate of 20.53 percent based on compounded annual growth rate (CAGR) in the last five years, as reported by Ranju Sarkar and Dilasha Seth for rediff.com. It is a popular tourist destination, owing to its culture, scenery and biodiversity. Sikkim has the fifth highest incidence of poverty among the states, with 41.4 percent of the population below the poverty line. Moreover, with 38 percent of the population below the age of 15, the number of young people entering the workforce and looking for jobs in industry and services will increase in coming years. This is a healthy trend that shows that the state is fast moving from the status of ‘developing’ to ‘developed’. The primary sector comprises of agriculture, mining, and forest, while secondary sector mainly consists of manufacturing, construction and electricity and tertiary sector consists of services sector like banking, trade, transport, communication, insurance and tourism.
Uttarakhand takes the second spot on the list. The 5 Years CAGR of Uttarakhand is 13.60 percent. The state boasts of one of the fastest growing economy in the country. The state has achieved a 9.31 percent growth in its Gross Domestic Product (GDP) - third after Gujarat and Bihar as per the data released by the Central Statistical Organization.
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