As Karnataka goes to the polls on May 10, an analysis of its gross state domestic product (GSDP) shows the GSDP recorded a higher growth (4.1% CAGR) between FY19 and FY23 than the all-India rate (2.7%).
Similarly, the state’s per capita income grew 8% CAGR—higher than the national growth rate of 6.4% during the period.
The state’s debt-to-GDP ratio remains at 23.4% for FY23—slightly higher than the N K Singh panel’s recommendation of 20% for states—but significantly lower than that of many other major states. Despite its economic soundness, the state lags in social sector spending.