Here’s a detailed summary of the provided information:
- Maharashtra’s Contribution to GST Collection:
- Maharashtra leads India in Goods and Services Tax (GST) share, contributing 19.6% to the total GST collection in fiscal 2024.
- This places Maharashtra as the top contributor to the GST pool, solidifying its position as the economic powerhouse of the country.
- When normalized for population size, Maharashtra also leads in per capita consumption spending, indicating high intensity of consumption within the state.
- Comparison with Other States:
- Karnataka follows Maharashtra as the second biggest contributor to the GST pool.
- States like Uttar Pradesh, West Bengal, and Rajasthan may have high absolute GST collections, but their per capita consumption spending is relatively lower.
- Haryana, Telangana, Kerala, and Punjab rank higher in per capita spending, reflecting higher average consumption spending per individual.
- Per Capita Consumption Spending:
- The top three states with the highest per capita consumption spending are Maharashtra, Karnataka, and Haryana.
- Conversely, Bihar, Uttar Pradesh, and Jharkhand occupy the bottom three slots in per capita consumption spending.
- Per Capita Income and GST Collection Growth:
- States with higher per capita income tend to have higher average consumption spending. For example, Telangana has a higher per capita income compared to Bihar.
- Despite significant differences in per capita income, Telangana and Bihar show similar average GST collection growth rates over the past five years.
- Conclusion:
- The analysis highlights the correlation between per capita income, consumption spending, and GST collection growth.
- While some states may lead in absolute GST collection, per capita consumption spending provides insights into the intensity of economic activity within each state.
Overall, the data underscores the importance of considering both absolute and per capita metrics to assess the economic performance and consumption behavior of different states in India.
