Karnataka has now overtaken Delhi to secure the position of India’s second-largest tax revenue contributor, trailing only Maharashtra. This impressive achievement reflects Karnataka’s dynamic economy, which is driven by key sectors such as IT, manufacturing, and services. The state reported a 10% increase in Goods and Services Tax (GST) revenue for the fiscal year 2023-24, underscoring its fiscal resilience amid challenges like drought and global economic shifts.
With strategic investments and pro-business policies, Karnataka’s GSDP per capita has surged, setting a strong foundation for continued growth into the next fiscal year. This milestone strengthens Karnataka’s standing as a critical player in the national economy and highlights its success in adapting to and thriving under complex economic conditions.
