Meghalaya to be India's slowest growing state in FY 2021: RBI data
India’s Slowest Growing State
Guwahati: According to the latest data released by the Reserve Bank of India (RBI), Meghalaya has recorded the slowest compound annual growth rate (CAGR) of 2 percent in FY2021.
This makes Meghalaya one of the slowest developing states in India.
The data released by the RBI said that the GDP of Meghalaya in FY 2021 was Rs 23.75 thousand crore.
With a CAGR of 5.3 percent and a GSDP of Rs 2.28 lakh crore in FY21, Assam also made it to the list of ten fastest growing cities in India.
Among other northeastern states, Mizoram has the fastest growth rate of 7.9% with an economy of Rs 14.4 thousand crore in FY21.
RBI data marks Gujarat as the fastest growing state in India with a CAGR of 8.2 percent, followed by Karnataka and Madhya Pradesh at 7.3 percent and 6.7 percent respectively.
Compound Annual Growth Rate or CAGR is a measure that is used especially in business and investment contexts. It indicates the rate of growth over a period of time. It is a measure of the continuous growth of the data series.
