Karnataka stands at the forefront of the list, with its per capita income surging by an impressive 294 percent from Rs 76,578 in FY13 to Rs 3.02 lakh in FY23.

Over the past decade, India has witnessed remarkable economic growth, with its per capita income more than doubling. In FY 2012-13 (FY13), India’s per capita income at current prices was Rs 70,983, a figure that has now grown to Rs 1.72 lakh in FY23, reflecting a substantial 143 percent increase in 10 years. This remarkable growth is attributed to the robust economic performance of several Indian states. Here is the list of the top 10 Indian states that have experienced the most rapid growth in per capita income over the past decade.

Data from CMIE and PIB reveals that India’s per capita income has grown at a compound annual growth rate (CAGR) of 9.3 percent over the last 10 years. However, some major states have outpaced the national average in terms of income growth. Karnataka leads this list, with the southern state achieving the highest CAGR at 14.7 percent. Karnataka’s per capita income has seen a remarkable 294 percent increase, rising from Rs 76,578 in FY13 to Rs 3.02 lakh in FY23. Following closely is its neighbor and another southern Indian state, Telangana. Telangana’s per capita income has surged by 262 percent to reach Rs 3.09 lakh in FY23 from Rs 85,169 in FY13, recording a 10-year CAGR of 13.7 percent.

Madhya Pradesh secures the third spot. Once labeled as a BIMARU state, it has shown a spectacular turnaround as per capita income has jumped by 224 percent to Rs 1.41 lakh in FY23 from Rs 43,426 in FY13, with a CAGR of 12.5 percent. MP is followed by Odisha, which was also considered a backward state but is now displaying robust economic growth. Odisha’s per capita income has increased by 206 percent to Rs 1.51 lakh in FY23 from Rs 49,227 in FY13, with a CAGR of 11.84 percent.

Assam occupies the fifth place, with per capita income increasing by 204 percent to reach Rs 1.19 lakh in FY23 from Rs 38,945 in FY13, achieving a CAGR of 11.77 percent. It is followed by Andhra Pradesh, which has recorded a CAGR of 11.75 percent, with per capita income rising by 204 percent to Rs 2.20 lakhs in FY23 from Rs 72,301 in FY13.

Gujarat holds the seventh position, although the most recent data for FY23 is not available. Nevertheless, in a nine-year period, it has achieved a CAGR of 11.61 percent, and per capita income has increased to Rs 2.5 lakh in FY22 from Rs 93,046 in FY13. Tamil Nadu is ranked eighth, with per capita income growing by 177 percent to reach Rs 2.73 lakh in FY23 from Rs 98,628 in FY13, with a CAGR of 10.73 percent. Kerala takes the ninth position. Although the latest data for FY23 is not available, it has achieved a CAGR of 10.71 percent over nine years, with per capita income increasing to Rs 2.29 lakh in FY22 from Rs 91,567 in FY13.

Rajasthan secures the tenth spot, with a CAGR of 9.88 percent, and per capita income growing by 157 percent over a decade, reaching Rs 1.56 lakh from Rs 60,844 in FY13.

Conversely, the three major states with the slowest per capita income growth are Bihar, with a nine-year CAGR of 7 percent, and per capita income increasing to Rs 49,470 in FY22 from Rs 26,948. Punjab has a ten-year CAGR of 7.5 percent, and per capita income has surged by 106 percent to reach Rs 1.74 lakh in FY23 from Rs 84,526 in FY13, while Jharkhand records a nine-year CAGR of 7.7 percent, with per capita income increasing to Rs 78,660 in FY22 from Rs 40,238 in FY13.

Please note that for states with unavailable FY23 data, we have used 9-year CAGR figures, while states with the latest FY23 data and complete 10-year data have been reported using the 10-year CAGR.