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Business News/ Economy / Kerala top state in daily wage payments
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Kerala top state in daily wage payments

Gujarat attracted the highest investments of ₹72,000 cr in FY20, followed by Maharashtra, Tamil Nadu

A daily wage construction worker in Kerala earns on an average ₹837.3 a day, against ₹250 in Tripura. Mint Premium
A daily wage construction worker in Kerala earns on an average 837.3 a day, against 250 in Tripura. Mint

 

Kerala, Jammu & Kashmir and Tamil Nadu top in the daily wage rate for workers, but industrialized states Gujarat and Maharashtra, where wages are lower, are front-runners in attracting investments, Reserve Bank of India data showed.

RBI’s latest handbook of statistics on Indian states showed that in FY22, construction workers’ average daily wage in Kerala was more than three times that in the lowest paying states Tripura and Madhya Pradesh.

A daily wage construction worker in Kerala earned on an average 837.3 a day, compared to 250 in Tripura, 267 in Madhya Pradesh, 296 in Gujarat and 362 in Maharashtra, FY22 data compiled by the central bank showed.

The handbook was released on Saturday.

In J&K, a construction worker earned 519 a day on an average, the only other region where the average daily wage was more than 500.

Tamil Nadu came close with 478 and Himachal Pradesh with 462 Haryana paid 420 and Andhra Pradesh paid 409 to construction workers.

In the case of agricultural and non-agircultural segments too, for which data is available, Kerala was the top payer followed by Himachal Pradesh, while Madhya Pradesh and Gujarat remained the lowest payers.

However, industrialized states remained front-runners in attracting investments.

Gujarat reported the highest gross fixed capital formation (GFCF) of over 72,000 crore in FY20, for which data is available. Maharashtra came second with over 69,900 crore, followed by Tamil Nadu with 45,900 crore. Karnataka reported over 27,000 crore of GFCF in the year. India had entered a national lockdown towards the end of FY20, but the bulk of its economic impact was visible in FY21 and FY22.

Nationally, GFCF saw a decline in FY21 but recovered in FY22 to 47.8 trillion, which shows a slight improvement over the FY20 level, as per data available from the ministry of statistics and programme implementation.

At the end of FY22, Karnataka and Tamil Nadu were over 20 trillion state economies, RBI said quoting gross state domestic product (GSDP) at current prices.

Data for Maharashtra and Gujarat are not available for FY22 but in the year before, Maharashtra was an over 27 trillion economy, while Gujarat’s economy was over 16 trillion, data showed. Uttar Pradesh’s economy was over 18.6 trillion at the end of FY22.

The central bank said that the Indian economy exhibited remarkable resilience to multiple shocks encountered in succession since early 2020, preserving macro stability while sustaining the momentum of recovery in growth.

Balanced regional development and inclusive growth have been two key areas of India’s development agenda, the central bank said.

UP, Maharashtra, Andhra Pradesh and Bihar remained the most populous states in the country. Density of population remains the highest in the national capital region (NCR) followed by Chandigarh.

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Published: 22 Nov 2022, 12:20 AM IST
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