Gandhinagar, Dec. 5 -- Gujarat has recorded a per capita income exceeding Rs 3 lakh for the first time, reflecting the state's sustained growth momentum and strengthening economic fundamentals.

The Gujarat government, in a release, added that with a Gross State Domestic Product (GSDP) of Rs 24.62 lakh crore in 2023-24, the state now ranks among the top five largest economies in India, following Maharashtra, Tamil Nadu, Uttar Pradesh, and Karnataka.

Conceptually, the long-term economic performance of any economy is measured in real terms, i.e. at constant prices, which gives insights into real volumes of production levels in the economy, duly nullifying the inflation.

In this context, what sets Gujarat apart is that between 2012-13 and ...