Meghalaya has the slowest growth rate in India, Assam in the fastest top ten: RBI

Despite assertions and denials on the economic growth in Meghalaya, the Reserve Bank of India stated that the state had the slowest growth in the entire nation in 2021, with a record Compounded Annual Growth Rate (CAGR) of under 2%.

According to information provided by the RBI, Meghalaya's GDP was Rs 23,750 crore in FY 2021.
The CAGR is the rate of return (RoR) needed, providing earnings were reinvested at the end of each period of the investment's lifespan, for a given investment to increase in value from its starting balance to its ending balance.

It's worth noting that Assam, with a CAGR of 5.3% and GSDP of Rs. 2.28 lakh crore in FY21, reached the list of the top ten fastest-growing states in India. With an economy of Rs 14,400 crore in FY21, Mizoram has the fastest growth rate of the five Northeastern states at 7.9%.
According to data experts, Meghalaya's per capita income at constant prices was predicted to be Rs 60,606 in 2021–22, up about 7% from the previous year but less than the pre–pandemic period.

In comparison to the prior fiscal year, the state's GDP grew by less than 0.1% in 2021–2022 to reach Rs 25,696.82 crore, they noted.
According to RBI data, Gujarat has the fastest rate of growth within India, with a CAGR of 8.2%, followed by Madhya Pradesh and Karnataka, which have CAGRs of 7.3% and 6.7%, respectively.
A metric used primarily in business and investing contexts is the CAGR. It serves as a gauge for the continuous growth of a data series and displays the growth rate over a range of time periods.