The per capita income of the State is expected to be Rs 1, 47,076 annually during the year 2014-15 on current prices as compare to Rs 1, 33,427 during 2013-14 which shows an increase of 10.2 per cent.
The per capita income at constant prices (2004-05) has become 71,493 in 2014-15 as against 67,260 in 2013-14 which shows an increase of 6.03 per cent.
While implementing the recommendations of the 14th Finance Commission, the Central Government has increased the tax being transferred to all states from 32 per cent to 42 per cent which would provide greater freedom to states for spending money.
The Centre and State Government would agree to implement Goods and Services Tax (GST) from the year 2016-17.
White Paper has been released for actual assessment of state’s economy so that measures could be adopted to strengthen it after understanding the weak points.