BENGALURU: Chief Minister DK Shivakumar has said that crossing the World Bank’s Upper Middle-Income threshold reaffirms the state’s place among India’s leading states.
“Karnataka crossing the World Bank’s Upper Middle-Income threshold, with an estimated per capita income of USD 5,579, is a proud moment for every Kannadiga,” the CM stated on social media platforms. He was reacting to media reports on the latest per capita income estimates in USD terms in which five states, including Karnataka, crossed the World Bank’s upper middle income threshold.
The CM said Karnataka’s greatest strength has always been its people. “As we move forward, our vision is to make Karnataka India’s leading state for opportunity, innovation and inclusive development, ensuring that the benefits of economic progress reach every family, every region and every citizen,” he stated.
The CM said the five guarantees have strengthened household incomes, increased purchasing power and enabled more families to participate in Karnataka’s growth story. Karnataka has always shown that when our people prosper, the economy prospers, he said. “Our focus remains firmly on the future - to make Karnataka India’s number one state by creating more opportunities, empowering every family and ensuring the benefits of growth reach every home,” Shivakumar added.
Financial Advisor to the Chief Minister and retired IAS officer LK Atheeq said IT services, defence and aerospace sectors contribute significantly to the state’s economic growth, and 30 % of India’s GCCs are based in Karnataka. Bengaluru, which contributes over 40% to Karnataka’s GSDP, is the engine of the state’s economic growth.
