Bangalore: Punjab, with the presence of highest proportion of all consumer durables, is now the most well-to-do state in India. On the contrary, Madhya Pradesh features at the very bottom, as per the soon to be released report by ratings and research firm, Crisil, reports Surojit Gupta and Sidhartha of TOI.
As per the Crisil findings, Punjab has the highest proportion of households with all durables, including a computer (10 in every 100). The state has also witnessed the lowest proportion of households with no durable asset, not even a mobile or a bicycle (just over 4 percent). The success of this state is attributed to the success of agriculture outcomes, as well as high minimum support price and public acquisition of grains.The study said "Madhya Pradesh is the least prosperous state. Moreover, there is large disparity in living standards among households in Bhopal, as well as between Bhopal and the rest of the state. For example, 15 percent of households in the capital have all assets, which is comparable to Mumbai. However, over 12 percent of households in Bhopal have no durable assets, compared to 2.2 percent in Mumbai," reports TOI.
In the prosperity index, Punjab is followed by Kerala, which is further followed by states like Haryana, Karnataka, Tamil Nadu and Gujarat. The report states that the high growth rate and tourism have brought prosperity in these states. It also attributes that success of agriculture has driven prosperity and equality in Punjab, while Kerala benefits from remittances. Gujarat is a prosperous state with high ownership of household assets.
On the other hand, the least prosperous among Indian states include Madhya Pradesh, West Bengal, Andhra Pradesh, Orissa and Rajasthan. Crisil also asserts, "In these states, no driver of growth, be it agriculture, industry or services, is well-established as yet. Neither do these states score high on infrastructure such as power and road connectivity which can attract manufacturing," reports Varun Sinha of NDTV.
Kerala and Punjab have the top levels of equality too. The criteria are measured by the asset ownership between their capital cities and the rest of the state. The lesser the gap between a capital city and the rest of the state with households owning all or no assets, the higher is the state equality index. But, Andhra Pradesh has the highest levels of inequality, says the report.
Maharashtra, however, exceed all other states in terms of highest per capita income. In the year 2004-05 prices, the state recorded the maximum level of real income per person, but the ownership of consumer durables in the state is lower than six others.