India’s richest stateMaharashtrais also the country’s best performer across financial and social indicators, according to state rankings released by credit rating company.
The rankings, released by CareEdge research arm of Care Ratings showed that Prime Minister Narendra Modis Home state Gujarat is at the second spot, with robust economic Growth and fiscal management.
Meanwhile, Indias most industrialized state Naduwas ranked third with an edge in social and Governance categories.
Maharashtra had a composite score of 55.7 followed by Gujarat (51.8), Tamil Nadu (51.1), Telangana (50.9) and Karnataka (50.4).
In Group B (Northeast, hilly & small states), Goa topped the overall ranking and was a front-runner in social, Infrastructure, Financial Inclusion and fiscal categories.
Among the northeastern states,Sikkimwas the best performer due to better score in economic, social, infrastructure and Environment categories.
Notably, Odisha topped the rankings in the fiscal category due to better score on revenue and Fiscal Deficit and healthy Debt Management indicators (CSF & GRF).
Maharashtra topped in financial inclusion with best performance in credit/GSDP ratio, NBFC sanctions and Health Insurance penetration. It also fared relatively well in mutual fund penetration.
Punjab and Haryana topped in the infrastructure ranking, mainly due to high power availability, RAILWAY density and greater irrigated area. However, both lagged in terms of social infrastructure (hospital beds & schools), the report said.
On governance,Andhra Pradeshand Telangana were at the top due to high Ease of Doing Business (EoDB) rank and better scores in the court conviction rate.