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GSDP & Economic Structure of Rajasthan

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GSDP & Economic Structure of Rajasthan

[!IMPORTANT] Data Source: Rajasthan Economic Review 2023-24. Rajasthan is one of India's fastest-growing economies, leveraging its position as the largest state (area) and a leader in renewable energy.

1. Key Economic Indicators (2023-24)

IndicatorAt Constant Prices (2011-12)At Current Prices
GSDPтВ╣8.24 Lakh CrтВ╣15.28 Lakh Cr
Growth Rate8.0%12.56%
Per Capita IncomeтВ╣90,265тВ╣1,87,454
Per Capita Growth6.8%11.4%

2. Sectoral Contribution (GSVA 2023-24)

The economy is categorized into three major sectors. Note the shift in contribution between Constant and Current prices:

SectorConstant Prices (%)Current Prices (%)
Agriculture & Allied25.16%24.26%
Industry26.69%34.10%
Services48.15%41.64%

[!NOTE] SIA Ranking: In terms of contribution at Constant prices, the order is Services > Industry > Agriculture.

3. Structural Breakdown

  • Agriculture: Crops, Livestock (significant contributor), Forestry, Fishing.
  • Industry: Manufacturing, Construction, Mining (Rajasthan is a "Mineral Museum"), Electricity & Water Supply.
  • Services: Trade, Hotels, Transport, Financial Services, Real Estate, Public Admin.

4. Key Economic Institutions

InstitutionFull NamePrimary Role
RIICORajasthan State Industrial Dev. & Investment Corp.Apex body for Industrial Infrastructure
RFCRajasthan Financial CorporationTerm loans & Finance for SMEs
RRECLRajasthan Renewable Energy Corp. LtdNodal agency for Solar/Wind
DESDirectorate of Economics & StatisticsPrepares the Economic Review

5. Fiscal Status & Budget

  • FRBM Act: State aims for fiscal discipline (Targeting <3% Fiscal Deficit).
  • Revenue Receipts: Comprises State's Own Tax, Non-Tax revenue, and Central Devolution.
  • Economic Review: This document is the bible of state statistics, presented annually before the budget.