This chapter is arithmetic that RPSC sets by figure, and almost every mark in it is lost the same way: a number quoted without the stage of estimate it belongs to. The same financial year appears three times in the Economic Review — as an Advance Estimate, then a First Revised Estimate, then a Second Revised Estimate — and the three are different numbers for the same year.
One fact frames the whole unit. Services are now 47.71 per cent of Rajasthan's Gross State Value Added and agriculture 25.74 per cent. A state understood as agricultural earns nearly half its value added from services, and agriculture's share has fallen while services' has risen in every year of the current series.
1. The headline aggregates
| 2024-25 | 2025-26 | |
|---|---|---|
| GSDP at current prices | ₹17,01,190 crore | ₹18,75,413 crore — about ₹18.75 lakh crore |
| GSDP growth, current prices | 11.77% | 10.24% |
| GSDP at constant (2011-12) prices | ₹9,03,564 crore | ₹9,81,807 crore — about ₹9.82 lakh crore |
| GSDP growth, constant prices | 8.77% | 8.66% |
| Net State Domestic Product, current | ₹15,25,291 crore | ₹16,85,118 crore |
| Per Capita Income, current | ₹1,85,095 | ₹2,02,349 — up 9.32% |
| Per Capita Income, constant | ₹95,762 | ₹1,03,189 — up 7.76% |
GovtSource: Government of Rajasthan, Economic Review 2025-26 (Directorate of Economics and Statistics, published with Budget 2026-27), "Key Indicators of Economic Development", read directly. The estimate stages are the Review's own: 2025-26 is an Advance Estimate, 2024-25 a First Revised Estimate and 2023-24 a Second Revised Estimate. Every figure in the 2025-26 column will be revised at least twice.
The five-year series, because a question can ask for any year in it.
| ₹ crore | 2021-22 | 2022-23 | 2023-24 | 2024-25 | 2025-26 (AE) |
|---|---|---|---|---|---|
| GSDP, current | 11,95,641 | 13,48,693 | 15,22,063 | 17,01,190 | 18,75,413 |
| Growth, current (%) | 17.46 | 12.80 | 12.85 | 11.77 | 10.24 |
| GSDP, constant | 7,25,464 | 7,71,631 | 8,30,724 | 9,03,564 | 9,81,807 |
| Growth, constant (%) | 8.93 | 6.36 | 7.66 | 8.77 | 8.66 |
| Per capita income, current (₹) | 1,34,143 | 1,49,060 | 1,67,027 | 1,85,095 | 2,02,349 |
| Per capita income, constant (₹) | 79,490 | 83,561 | 88,868 | 95,762 | 1,03,189 |
GovtSource: Economic Review 2025-26, Key Indicators table, read directly.
Three readings of that series are worth more than any single figure.
Growth at current prices is falling while growth at constant prices is holding. 17.46 down to 10.24 at current prices; 8.93 to 8.66 at constant. The gap between the two is inflation, and the gap has been narrowing — from about 8.5 percentage points in 2021-22 to about 1.6 in 2025-26. That is a disinflation story told by two columns, and it is a better answer than either growth rate alone.
Per capita income crossed a lakh at constant prices for the first time in this series, reaching ₹1,03,189 in 2025-26 against ₹95,762 the year before. At current prices it crossed two lakh, at ₹2,02,349. Both thresholds fall in the same year, which makes 2025-26 the memorable one.
And note which of the two to quote. A question about the standard of living wants the constant-price figure, because it strips out inflation. A question about the size of the economy usually wants current prices. Quoting ₹2,02,349 as though it represented real improvement over ₹1,85,095 overstates the gain: the real rise was 7.76 per cent, not 9.32.
2. Rajasthan against India
A state figure means little until it is set beside the national one, and the Review prints both in the same tables.
| 2025-26 | Rajasthan | All India | Rajasthan's share |
|---|---|---|---|
| GSDP / GDP at current prices | ₹18,75,413 crore | ₹3,57,13,886 crore | 5.25% |
| Growth, current prices | 10.24% | 8.0% | — |
| GSDP / GDP at constant (2011-12) prices | ₹9.82 lakh crore | ₹201.90 lakh crore | 4.86% |
| Growth, constant prices | 8.66% | 7.4% | — |
| Per capita income, current | ₹2,02,349 | ₹2,19,575 | — |
| Per capita income, constant | ₹1,03,189 | ₹1,21,968 | — |
GovtSource: Economic Review 2025-26, tables 13.1, 13.2, 13.4 and 13.5, read directly. The two share figures are the Review's own statements and not arithmetic done here — it writes that the state contributes 5.25 per cent at current prices, and that its GSDP "is estimated to contribute 4.86 per cent to the nation's GDP" at constant prices. The All-India figures are Provisional Estimates for 2024-25 and First Advance Estimates for 2025-26, a different estimate stage from Rajasthan's.
The two halves of that table point in opposite directions, and that is the examinable tension.
Rajasthan grows faster than India on both price bases: 10.24 against 8.0 at current prices, 8.66 against 7.4 at constant. But its per capita income is below the national average on both: ₹2,02,349 against ₹2,19,575, and ₹1,03,189 against ₹1,21,968.
A state can outgrow the country and still earn less per head, because it began lower and because its population grows faster than the national average. Faster growth is closing the gap, not evidence of having closed it. An answer quoting only the growth rates claims more than the data supports; one quoting only the per capita shortfall misses that it is narrowing.
Compare within one price basis only. The state and national series share the 2011-12 base, but their deflators differ, and the ratio between the two per capita incomes is not the same on the two bases. Pair current with current and constant with constant.
Where the state stood at the base year. In 2011-12 the per capita income at current prices was ₹57,192 in Rajasthan against ₹63,462 for India, a comparison the Review prints as a figure beside the 2025-26 pair. Both have risen about three and a half times across the fourteen years.
3. The five terms this unit is written in
Five terms run through this unit, and RPSC asks what they mean as often as what they equal.
| Term | What it is |
|---|---|
| GSDP, Gross State Domestic Product | The value of all goods and services produced in the state in a year, at market prices |
| GSVA, Gross State Value Added | Output less the cost of inputs, at basic prices. GSDP = GSVA + product taxes − product subsidies, which is why the two are never the same number |
| NSDP, Net State Domestic Product | GSDP less consumption of fixed capital, that is, less depreciation |
| PCI, Per Capita Income | NSDP divided by the mid-year population. It is derived from the net figure, not from GSDP |
| GFCF, Gross Fixed Capital Formation | Spending that adds to the stock of fixed assets, the investment measure, in section 5 below |
Two of these are routinely confused in answer scripts. Per capita income comes from NSDP and not from GSDP, so dividing GSDP by population produces a much larger and wrong figure. And the sector shares on this page are shares of GSVA, not of GSDP, because the Review computes composition at basic prices.
4. The three sectors, and where the state actually earns
| Share of GSVA, 2025-26 (AE) | At current prices | At constant prices |
|---|---|---|
| Agriculture | 25.74% | 25.33% |
| Industry | 26.55% | 28.21% |
| Services | 47.71% | 46.46% |
GovtSource: Economic Review 2025-26, Key Indicators table, read directly. The agriculture sector here includes crops, livestock, fishing, and forestry and logging — the same four the agriculture chapter breaks down, where livestock is the larger half.
The direction across five years is the examinable part, not the single year.
| At current prices | 2021-22 | 2023-24 | 2025-26 (AE) |
|---|---|---|---|
| Agriculture | 28.54% | 27.40% | 25.74% |
| Industry | 27.90% | 27.92% | 26.55% |
| Services | 43.56% | 44.68% | 47.71% |
GovtSource: Economic Review 2025-26, Key Indicators table, read directly.
Services have gained about four percentage points in four years and both other sectors have lost ground. Agriculture fell 2.8 points and industry 1.35. That is structural change and not a bad year in either sector — a share can fall while the sector grows, if the others grow faster.
Hold the pairing that a Mains answer needs. Agriculture is a quarter of the value added and, on the Census figures in the agriculture chapter, the majority of the workforce. Services are nearly half the value added on a far smaller share of employment. The productivity gap between the two is the single largest structural fact about this economy, and neither figure states it alone.
The Review prints the levels and the growth rates too, and either can be asked.
| 2025-26 (AE) | GSVA at current prices | GSVA at constant prices | Growth, constant |
|---|---|---|---|
| Agriculture | ₹4,40,702 crore | ₹2,22,550 crore | +0.22% |
| Industry | ₹4,54,486 crore | ₹2,47,872 crore | +7.02% |
| Services | ₹8,16,828 crore | ₹4,08,325 crore | +11.15% |
| Total GSVA | ₹17.12 lakh crore | ₹8.79 lakh crore | +7.03% |
GovtSource: Economic Review 2025-26, tables 13.6 and 13.7 and the text around them, read directly. Total GSVA at constant prices grew 7.03 per cent in 2025-26 against 7.57 per cent in 2024-25, which is the Review's own comparison.
Agriculture grew 0.22 per cent in real terms and services 11.15, and that one line explains the whole movement in shares above. Agriculture's share falls not because the sector shrank but because it barely moved while services grew about fifty times faster. The 0.22 per cent is the figure to carry, precisely because a paper will set it against a plausible-looking 2 or 5 per cent in an option set.
5. Capital formation, which is the investment measure
| Gross Fixed Capital Formation, current prices | ₹ crore | As % of GSDP |
|---|---|---|
| 2021-22 | 3,42,374 | 28.64 |
| 2022-23 | 3,90,245 | 28.94 |
| 2023-24 | 4,49,352 | 29.52 |
| 2024-25 | 5,02,412 | 29.53 |
GovtSource: Economic Review 2025-26, "Key Indicators of Economic Development" and table 13.8, read directly. The Review marks the series provisional. The 29.53 per cent is computed on the 2024-25 GSDP of ₹17,01,190 crore, which the Review states beside it. The Review carries no 2025-26 figure for GFCF and none is given here.
Three figures carry this section.
Gross fixed capital formation crossed five lakh crore in 2024-25, at ₹5,02,412 crore, growing 11.81 per cent over 2023-24. It is 29.53 per cent of GSDP, close to three rupees in every ten going into fixed assets.
The private sector accounts for 77.97 per cent of it and the public sector 22.03, a split that is asked directly. It also puts the borrowing figures further down this page in proportion: the state's own capital spending is the smaller fifth of all capital formation in Rajasthan.
And the ratio has barely moved — 28.64 per cent in 2021-22 to 29.53 in 2024-25, less than a percentage point in three years, while the absolute figure rose about ₹1.6 lakh crore. The investment rate is broadly flat; the investment amount is not.
6. The districts: output, and income
Two different district questions are asked and they have different answers. Which district produces most is not which district earns most per head, and Rajasthan is a clean example of the difference.
| Gross District Domestic Product, 2024-25 | Current prices, ₹ crore | Constant prices, ₹ crore |
|---|---|---|
| Largest — Jaipur | 2,37,409 | 1,31,322 |
| Alwar | 1,36,559 | 79,600 |
| Jodhpur | 92,039 | 47,023 |
| Ajmer | 76,914 | 39,788 |
| Bhilwara | 72,702 | 36,481 |
| Udaipur | 69,536 | 38,402 |
| Smallest — Pratapgarh | 15,128 | 7,430 |
| Dholpur | 18,871 | 10,121 |
| Dungarpur | 19,563 | 10,108 |
| Jaisalmer | 20,992 | 11,685 |
GovtSource: Economic Review 2025-26, Statistical Appendix, tables 12 and 13, "Gross District Domestic Product at current prices" and "at constant (2011-12) prices", read directly and sorted. The Review marks both provisional and states they rest on the State GSDP estimates released in February 2025. Both tables cover 33 districts.
Jaipur produces about 15.7 times what Pratapgarh does at current prices, and it is the largest district economy by a wide margin — ₹2,37,409 crore against Alwar's ₹1,36,559 crore in second place.
But Jaipur is not the richest district per head. Alwar is. Jaipur is the largest economy and Alwar the highest per capita income, and the reason is population: Jaipur's output is divided among far more people. That pairing is the trap in this section. A question asking for the "richest district" has to be read carefully for which of the two it means.
The state average conceals a spread of nearly three to one, and RPSC has the table.
| At constant prices, 2024-25 | ₹ |
|---|---|
| Highest — Alwar | 1,55,929 |
| Jaipur | 1,41,490 |
| Rajsamand | 1,31,044 |
| Jaisalmer | 1,25,854 |
| Bikaner | 1,18,143 |
| Lowest — Dungarpur | 54,155 |
| Banswara | 61,034 |
| Dholpur | 62,358 |
| Pratapgarh | 63,978 |
| Karauli | 63,987 |
GovtSource: Economic Review 2025-26, Statistical Appendix, table 15, "District wise per capita income at constant prices", read directly and sorted. The Review marks the series provisional and states it is based on the State GSDP estimates released in February 2025. The table covers 33 districts, the pre-2023 framework, so the eight districts created in 2023 and retained do not appear separately.
Alwar at ₹1,55,929 against Dungarpur at ₹54,155 is a ratio of about 2.9 to 1, and the geography of it is the point. The top five are industrial, capital, mining and tourism districts; the bottom five are the tribal south and the eastern ravine country. Dungarpur, Banswara and Pratapgarh are three of the four districts of the tribal belt, and they occupy three of the bottom four places.
The same table at current prices, because a paper can quote either.
| At current prices, 2024-25 | ₹ |
|---|---|
| Highest — Alwar | 2,68,321 |
| Jaipur | 2,60,991 |
| Jaisalmer | 2,34,051 |
| Rajsamand | 2,25,260 |
| Bhilwara | 2,22,367 |
| Lowest — Dungarpur | 1,06,779 |
| Dholpur | 1,18,061 |
| Banswara | 1,20,686 |
| Karauli | 1,26,341 |
| Pratapgarh | 1,31,971 |
GovtSource: Economic Review 2025-26, Statistical Appendix, table 14, "District wise per capita income at current prices", read directly and sorted. Same provisional status, same February-2025 basis and same 33 districts as the constant-price table above.
The top and bottom names are nearly the same on both bases, but the order inside them is not. Bikaner is fifth at constant prices and sixth at current; Bhilwara is fifth at current and seventh at constant. Quote the ranks from the basis the question names, because a list memorised from one table will misplace two districts on the other.
One caution before quoting this table. It is provisional, it is at constant prices, and it is on the 33-district map. A question naming Balotra, Phalodi or Salumber cannot be answered from it, because those districts are inside their parent districts' figures here.
7. Prices
| Index | Base | 2024 | 2025 | Change |
|---|---|---|---|---|
| Wholesale Price Index, Rajasthan | 1999-2000 = 100 | 394.68 | 399.13 | +1.13% |
| — Primary articles | +1.71% | |||
| — Manufacturing products | +1.20% | |||
| — Fuel, power, light and lubricants | +0.07% |
GovtSource: Economic Review 2025-26, "Price Indices", read directly.
The Review reports the state's wholesale prices on two different clocks, and they give different numbers for what looks like the same thing.
| Wholesale Price Index, Rajasthan (base 1999-2000 = 100) | Index | Change |
|---|---|---|
| Calendar year 2024 | 394.68 | — |
| Calendar year 2025 | 399.13 | +1.13% |
| Financial year 2023-24 | 388.09 | −0.09% |
| Financial year 2024-25 | 396.72 | +2.18% |
| Financial year 2025-26, up to December 2025 | 399.74 | +0.76% |
GovtSource: Economic Review 2025-26 — the calendar-year rows from tables 13.9 and 13.10 in the price chapter, the financial-year rows from "Key Indicators of Economic Development", both read directly. The 2025-26 financial-year figure is a part-year average up to December 2025, marked as such in the Review, and is not comparable with a full year.
Both series are the Review's own and neither is wrong. The price chapter averages the calendar year; the Key Indicators table averages the financial year, and the part-year 2025-26 entry covers only nine months. State which basis you are quoting. A paper that gives 399.13 and one that gives 399.74 are both quoting this document.
Rajasthan's wholesale prices rose faster than the country's. The all-India WPI, on a 2011-12 base, went from 153.9 in 2024 to 154.9 in 2025, a rise of 0.65 per cent, against Rajasthan's 1.13 per cent on the calendar-year basis. The two indices have different base years and their levels cannot be compared. Only their rates of change can be.
The group weights are asked, and they are not intuitive.
| Group in the state WPI | Weight | Index, 2025 |
|---|---|---|
| Manufactured products | 49.853 | 311.42 |
| Primary articles | 33.894 | 445.65 |
| Fuel, power, light and lubricants | 16.253 | 571.11 |
GovtSource: Economic Review 2025-26, "Price Indices" and tables 13.9 and 13.10, read directly.
Manufactured products carry almost half the weight but have the lowest index, and fuel and power carry the least weight but the highest index, which is why the all-commodities figure moves far less than the fuel line alone. Primary articles within it split into agricultural articles at 437.84 and minerals at 504.67 in 2025, and minerals have risen fastest of any sub-group in the series.
And the collection itself has been asked. The Directorate of Economics and Statistics has collected wholesale and retail prices of essential commodities weekly since 1957, from selected centres across the state. Prices of livestock products, construction material and labour wages are collected from 33 districts. The CPI-IW is not a state product at all: it is prepared and released by the Labour Bureau, Chandigarh.
| Consumer Price Index for Industrial Workers, 2025 | Base 2016 = 100 |
|---|---|
| Alwar | +2.02% |
| Bhilwara | +2.62% |
| Jaipur | +1.88% |
| All-India | +2.75% |
GovtSource: Economic Review 2025-26, "Price Indices", read directly. The three centres named are the CPI-IW centres the Review reports for Rajasthan.
Two things follow and both are quotable.
All three Rajasthan centres inflated more slowly than the country. Jaipur at 1.88 per cent against an all-India 2.75 is the widest gap, and Bhilwara at 2.62 the narrowest.
And note the base years, because they are asked. The state's WPI still runs on a 1999-2000 base, which is why its index number reads near 400; the CPI-IW runs on 2016 = 100. An index number without its base year is meaningless, and the two on this page have different bases twenty-seven years apart.
8. The Budget: what comes in
| Receipts, ₹ crore | 2024-25 (RE) | 2025-26 (BE) |
|---|---|---|
| Tax revenue | 1,98,025.99 | 2,28,459.87 |
| Non-tax revenue | 26,917.28 | 26,883.32 |
| Union grant | 37,675.00 | 39,193.30 |
| Miscellaneous capital receipts | 20.00 | 20.00 |
| Public debt | 2,28,515.80 | 2,33,488.01 |
| Loans and advances | 529.46 | 416.39 |
| Public account (net) | 7,270.61 | 8,723.14 |
| Total receipts | 4,98,954.14 | 5,37,184.03 |
GovtSource: Economic Review 2025-26, Statistical Appendix, table 17, "Budget (Receipts)", read directly. RE is Revised Estimate and BE is Budget Estimate, and the Review labels them so. Neither is an account of money actually received.
The structure of that table is the answer to most questions about it.
Public debt at ₹2,33,488 crore very slightly exceeds tax revenue at ₹2,28,460 crore. The state's largest single line of receipts in 2025-26 is borrowing, marginally ahead of everything it collects in tax. That is a fact worth stating carefully rather than dramatically: public debt receipts are gross borrowing, not net addition to debt, and a large part refinances maturing loans.
Non-tax revenue is almost flat and Union grants rose modestly. Non-tax revenue actually falls slightly, from ₹26,917 crore to ₹26,883 crore, while tax revenue rises more than ₹30,000 crore. Rajasthan's revenue growth is a tax-revenue story.
9. The four deficits, which are four different things
| ₹ crore | 2023-24 | 2024-25 (RE) | 2025-26 (BE) |
|---|---|---|---|
| Revenue deficit | −38,954.60 | −31,939.15 | −31,009.41 |
| Budget surplus | +73.04 | +106.92 | +115.09 |
| Primary deficit | −31,451.77 | −30,972.70 | −44,585.41 |
| Fiscal deficit | 65,579.55 | 70,090.84 | 84,643.63 |
GovtSource: Economic Review 2025-26, Statistical Appendix, table 16, "Budget — Surplus (+) / Deficit (−)", read directly. The table's own convention is that the fiscal deficit is printed as a positive number while the revenue and primary deficits carry a minus sign; the signs are reproduced as the Review prints them.
Learn what separates them, because a question will offer all four.
| What it measures | |
|---|---|
| Revenue deficit | Revenue expenditure minus revenue receipts — borrowing to meet running costs |
| Fiscal deficit | Total expenditure minus total receipts other than borrowing — the whole borrowing requirement |
| Primary deficit | Fiscal deficit minus interest payments — the borrowing that is not simply servicing past borrowing |
| Budget surplus/deficit | The overall closing position on the state's consolidated account |
Now read the 2025-26 column against 2024-25, because the four move in different directions.
The revenue deficit narrowed and the fiscal deficit widened. Revenue deficit improved from −31,939 to −31,009 crore; fiscal deficit rose from 70,091 to 84,644 crore. Borrowing for running costs fell slightly while total borrowing rose sharply, which points to capital spending rather than to a deterioration in day-to-day finances.
The primary deficit widened most of all, from −30,973 to −44,585 crore — a jump of about 44 per cent in one year. The primary deficit is the one that tells you about new borrowing rather than inherited interest, and it moved further than any other line on the table.
The gap between the fiscal and primary deficits is interest. ₹84,644 crore less ₹44,585 crore is about ₹40,000 crore, which is the order of the state's interest burden implied by these two rows. That is arithmetic on two published figures, not a published figure, and it is given as such.
10. The Budget of 2026-27, which is the current one
The Budget for 2026-27 was presented on 11 February 2026, and the Economic Review used throughout this chapter was published alongside it. The Review's own budget tables stop at 2025-26, so the figures below come from the Budget Speech itself.
| Budget Estimates 2026-27 | ₹ crore |
|---|---|
| Revenue receipts | 3,25,740.14 |
| Revenue expenditure | 3,50,054.07 |
| Revenue deficit | 24,313.93 |
| Capital account receipts | 2,85,433.87 |
| Capital account expenditure | 2,60,902.23 |
| Fiscal deficit | 79,492.52 |
GovtSource: Government of Rajasthan, Budget Speech 2026-27 (presented 11 February 2026), paragraph 254, read directly. These are Budget Estimates — what the state proposes, not what it will collect or spend.
| Fiscal parameters, Budget Estimates 2026-27 | |
|---|---|
| GSDP | ₹21,52,100 crore |
| Fiscal deficit, as % of GSDP | 3.69% |
| Debt and other liabilities, as % of GSDP | 36.8% |
| Capital outlay | ₹53,978.41 crore |
GovtSource: Budget Speech 2026-27, paragraphs 255 and 256, read directly. The Speech states the fiscal deficit has been held within the FRBM permitted limit of 3.7 per cent.
Check the two against each other, because the arithmetic confirms the pair. ₹79,492.52 crore on a GSDP of ₹21,52,100 crore is 3.69 per cent, exactly the ratio the Speech states — so the deficit figure and the GSDP projection belong to the same estimate and can be quoted together.
The GSDP figure here is a projection and not an estimate of output. ₹21,52,100 crore is the GSDP the Budget assumes for 2026-27, against the Review's Advance Estimate of ₹18,75,413 crore for 2025-26. It is a budget assumption, not a measurement, and the Directorate's Advance Estimate for 2026-27 will not appear until the next Review.
What the Revised Estimates did to last year's Budget
This is the clearest illustration on the site of why the estimate stage matters, and it is worth more than the definition.
| 2025-26 | As budgeted (BE) | As revised (RE) |
|---|---|---|
| Fiscal deficit | ₹84,643.63 crore | ₹72,492.62 crore |
| Revenue deficit | ₹31,009.41 crore | ₹32,982.92 crore |
| Revenue receipts | — | ₹2,85,533.34 crore |
| Revenue expenditure | — | ₹3,18,516.26 crore |
| Capital account receipts | — | ₹2,73,148.64 crore |
| Capital account expenditure | — | ₹2,40,079.90 crore |
GovtSource: Budget Estimates from the Economic Review 2025-26, Statistical Appendix tables 16 and 17; Revised Estimates from the Budget Speech 2026-27, paragraph 253. Both read directly. The Review carries no Revised Estimate for 2025-26 and the Speech carries no Budget Estimate for it, which is why the two columns come from two documents.
The fiscal deficit was budgeted at ₹84,643.63 crore and revised down to ₹72,492.62 crore, a fall of about ₹12,151 crore, or roughly a seventh of what was budgeted. The revenue deficit moved the other way, from ₹31,009.41 crore budgeted to ₹32,982.92 crore revised.
So the same year, 2025-26, has two published fiscal deficits differing by twelve thousand crore, and both are official. A question asking for "the fiscal deficit in 2025-26" is answerable only once the stage is fixed. That is the single most useful thing on this page.
Two funds named in the Speech are asked as one-liners. The state on-boarded the RBI's Consolidated Sinking Fund in 2024-25 and has invested ₹2,934 crore in it; it on-boarded the Guarantee Redemption Fund in 2025-26, against contingent liabilities arising from state guarantees.
11. Nowadays — what changed in 2026
Covering 1 January to 30 August 2026. Updated every month until Prelims and Mains.
The Budget of 2026-27 was presented on 11 February 2026
The current cycle is 2026-27, and its Budget Speech is now read into section 10 of this page: GSDP projected at ₹21,52,100 crore, fiscal deficit ₹79,492.52 crore at 3.69 per cent of GSDP, debt and other liabilities 36.8 per cent, capital outlay ₹53,978.41 crore.
The Economic Review 2025-26 was published alongside that Budget. Its 2025-26 column is an Advance Estimate and its budget tables give Budget Estimates for 2025-26 against Revised Estimates for 2024-25 — so the most recent settled year anywhere in this chapter is still 2023-24.
No 2026-27 outturn exists and none is claimed. Everything on this page for 2026-27 is a Budget Estimate, labelled as such at every appearance, and the first revision to it will come with the next Budget.
What has not changed
The estimate-stage convention has not changed, and it is the thing to carry: Advance, then First Revised, then Second Revised, then Accounts.
The WPI base year for the state series is still 1999-2000 and the CPI-IW base is still 2016. A new base year would move every index number on this page, and none has been announced in anything reached for this chapter.
And the district per capita income table is still on 33 districts. It is based on GSDP estimates released in February 2025 and is marked provisional, so the eight retained new districts still have no separate figure.
Important for RAS
Prelims Focus
- GSDP 2025-26 (AE): ₹18.75 lakh crore current, ₹9.82 lakh crore constant; growth 10.24% and 8.66%
- Per capita income 2025-26: ₹2,02,349 current (+9.32%), ₹1,03,189 constant (+7.76%) — both thresholds, two lakh and one lakh, crossed in the same year
- GSVA shares at current prices: services 47.71%, industry 26.55%, agriculture 25.74%. Services have gained about four points in four years
- NSDP 2025-26 current: ₹16,85,118 crore
- District per capita income (constant, 2024-25, provisional, 33 districts): highest Alwar ₹1,55,929; lowest Dungarpur ₹54,155 — a spread of about 2.9 to 1
- WPI (base 1999-2000) rose 394.68 → 399.13, up 1.13%; CPI-IW (base 2016): Jaipur +1.88%, Alwar +2.02%, Bhilwara +2.62%, all-India +2.75%
- Budget 2025-26 (BE): total receipts ₹5,37,184.03 crore; tax revenue ₹2,28,459.87 crore; public debt ₹2,33,488.01 crore
- Deficits 2025-26 (BE): revenue −₹31,009.41 crore, fiscal ₹84,643.63 crore, primary −₹44,585.41 crore, budget surplus +₹115.09 crore
- The fiscal deficit widened while the revenue deficit narrowed — the two move independently and a question can exploit that
- Rajasthan contributes 5.25% of India's GDP at current prices and 4.86% at constant prices (2025-26) — the Review's own statements
- All-India per capita income 2025-26: ₹2,19,575 current, ₹1,21,968 constant. Rajasthan is below the national average on both bases while growing faster than India on both
- GFCF 2024-25: ₹5,02,412 crore, 29.53% of GSDP, up 11.81%; private sector 77.97%, public sector 22.03%
- Total GSVA 2025-26: ₹17.12 lakh crore current, ₹8.79 lakh crore constant (+7.03%)
- Real sector growth 2025-26: agriculture +0.22%, industry +7.02%, services +11.15% — the 0.22 is the one that gets misremembered
- Largest district economy is Jaipur (GDDP ₹2,37,409 crore, current, 2024-25); smallest is Pratapgarh (₹15,128 crore). But the highest per capita income is Alwar, not Jaipur
- District per capita income at current prices: highest Alwar ₹2,68,321; lowest Dungarpur ₹1,06,779
- State WPI group weights: manufactured products 49.853, primary articles 33.894, fuel and power 16.253. DES has collected prices weekly since 1957; CPI-IW is released by the Labour Bureau, Chandigarh
- All-India WPI (base 2011-12) rose 153.9 → 154.9, +0.65% — slower than Rajasthan's +1.13%
- Budget 2026-27 (BE), presented 11 February 2026: GSDP ₹21,52,100 crore; fiscal deficit ₹79,492.52 crore at 3.69% of GSDP (FRBM limit 3.7%); debt and other liabilities 36.8% of GSDP; capital outlay ₹53,978.41 crore; revenue deficit ₹24,313.93 crore
- The 2025-26 fiscal deficit has two official figures: ₹84,643.63 crore as budgeted and ₹72,492.62 crore as revised. Fix the stage before answering
- Consolidated Sinking Fund on-boarded 2024-25 (₹2,934 crore invested); Guarantee Redemption Fund on-boarded 2025-26
Interview and Mains Angles
- Services are nearly half of value added and agriculture a quarter, while agriculture holds the majority of the workforce. What follows for a state employment policy?
- The revenue deficit narrowed while the fiscal and primary deficits widened. Is that the signature of capital investment or of deferred adjustment, and what evidence would settle it?
- Per capita income ranges from about ₹1.56 lakh in Alwar to about ₹54,000 in Dungarpur. What does a state do about a three-to-one internal gap that a state average conceals?
- Growth at current prices has fallen from 17.46 to 10.24 per cent while constant-price growth has held near nine. Explain the divergence and what it says about the price environment.
- Rajasthan grows faster than India on both price bases yet earns less per head on both. How long does that arithmetic take to close the gap, and what would have to change for it to close faster?
- Gross fixed capital formation is 29.53 per cent of GSDP and 78 per cent of it is private. What does that split imply for the state's leverage over its own investment rate?
- The same year's fiscal deficit is ₹84,644 crore as budgeted and ₹72,493 crore as revised. What does a gap of that size, in that direction, tell you about either the budgeting or the execution?
Aggregator Watch
Claims below circulate in coaching notes, question banks and aggregator sites for this topic. They are listed only where they are either absent from this chapter or in conflict with it. None has been confirmed against a primary source by us. Carry them as "what the aggregators say" so an option in a paper does not surprise you — do not treat them as established, and do not build a Mains answer on them.
| Aggregator claim | Status here |
|---|---|
| The 2026-27 GSDP of ₹21,52,100 crore represents an increase of about 41.39 per cent over the last year of the previous government's tenure | The figure is right and the comparison is not carried. ₹21,52,100 crore is the Budget Estimate for 2026-27 and is on this page, read from the Budget Speech. The 41.39 per cent comparison against a named political tenure appears in coaching material but in no state document read for this chapter, and the baseline year it uses is never stated. Quote the GSDP; leave the comparison |
| Rajasthan is the Nth largest state economy in India, with a specific rank | Not carried. The Review states Rajasthan's share of national GDP — 5.25 per cent at current prices — but publishes no rank, and a state document cannot settle its own national ranking. The share is on this page; the rank is not, because no MoSPI file establishing it was read |
| Rajasthan's per capita income has overtaken the national average | Contradicted by the source. The Review's own tables 13.4 and 13.5 put Rajasthan below All India on both bases — ₹2,02,349 against ₹2,19,575 at current prices, ₹1,03,189 against ₹1,21,968 at constant. The gap is narrowing, and it has not closed |
| Debt-to-GSDP ratios for Rajasthan other than 36.8 per cent, often in the low forties | Only one figure is carried here. The Budget Speech states debt and other liabilities at 36.8 per cent of GSDP in the Budget Estimates for 2026-27. Figures for other years, or on other definitions of debt, were not read and are not reproduced. A debt ratio without its year and its definition cannot be checked |
| District-wise GSDP or per capita income for the 41 current districts | Does not exist in the source. Both the Review's district tables are on the 33-district framework and are marked provisional against February-2025 GSDP estimates. No figure for Balotra, Phalodi, Salumber or the other retained districts is published, and any circulating table giving them one is not derived from this Review |
| Sector shares quoted as shares of GSDP rather than of GSVA | A real distinction, frequently blurred. The Review computes composition on GSVA at basic prices, which is what this page reports. GSDP includes product taxes net of subsidies, so shares computed on it would differ. Aggregator tables rarely say which they used |
| 2026-27 figures presented as achieved results — growth rates, per capita income or revenue for the current year | Nothing for 2026-27 is an outturn. Every 2026-27 figure on this page is a Budget Estimate from the Budget Speech of 11 February 2026. The Directorate's Advance Estimate for 2026-27 will not exist until the next Economic Review, and any current-year "achievement" figure has no published basis |
Practice
- Practice: Rajasthan's Macro Economy and the State Budget — 45 exam-style questions on the aggregates, the estimate stages, the price clocks and both Budgets, every answer traced to this chapter.
- Every RAS Prelims Geography question, 2013–2024 — the geography unit's official questions, several of which draw on the same Economic Review.
More in This Series
- Economy of Rajasthan — the unit index
- Agriculture of Rajasthan — where the agriculture quarter of GSVA is broken down
- Livestock and Dairy Development — the larger half of that quarter
- Caution for Readers — the claims across this site that are genuinely unsettled
Sources & Verification
Written on 30 August 2026. Every figure on this page is read from two Government of Rajasthan documents directly, and from no secondary source.
The Economic Review 2025-26 supplies the national accounts, prices and district tables — its Key Indicators table, its Executive Summary, chapter 13 with tables 13.1 to 13.10, and tables 12 to 17 of its Statistical Appendix.
The Budget Speech 2026-27, presented on 11 February 2026, supplies section 10 — its paragraphs 253 to 257. It is published in Hindi and its figures are written in words as well as digits; the passages used here were read from the document itself.
1. The estimate stage is part of every figure and is printed with it. 2025-26 is an Advance Estimate, 2024-25 a First Revised Estimate and 2023-24 a Second Revised Estimate, in the Review's own note. The most recent year on this page with a settled figure is 2023-24. A page that gave the 2025-26 GSDP without that qualification would be quoting a projection as a result.
2. Budget Estimates and Revised Estimates are labelled as such throughout. Table 17's 2025-26 column is a Budget Estimate and its 2024-25 column a Revised Estimate. Neither is an account of money received or spent, and the difference matters more in this chapter than in any other on the site.
3. Every derived figure on the page is marked as arithmetic. The implied interest burden — the gap between the fiscal and primary deficits, about ₹40,000 crore — is a subtraction of two published numbers, not a published number. So are the 2.9 to 1 ratio between the highest and lowest district per capita incomes, the 15.7 to 1 ratio between the largest and smallest district economies, and the observation that both per capita incomes have risen about three and a half times since 2011-12. The two share-of-India percentages are not derived — 5.25 and 4.86 are the Review's own statements, quoted rather than computed.
The one cross-check worth repeating. ₹79,492.52 crore against a GSDP of ₹21,52,100 crore is 3.69 per cent, which is the figure the Budget Speech states independently two paragraphs later. The deficit and the GSDP projection are internally consistent, so they belong to the same estimate and may be quoted together.
4. The district table's limits are stated on the page. It is provisional, at constant prices, based on GSDP estimates released in February 2025, and on the 33-district framework. No figure is offered for Balotra, Phalodi, Salumber or the other five retained districts, because the table does not carry one.
5. The sign convention is the Review's, not this page's. Table 16 prints the fiscal deficit as a positive number while showing the revenue and primary deficits as negatives, and the figures are reproduced exactly as printed rather than normalised.
Links were checked and resolving on 30 August 2026, each against its final URL rather than its first.
6. Two gaps this page previously declared have now been closed, and the correction is recorded here rather than made silently. An earlier version of this page stated that no 2026-27 figure was asserted and that the state's debt-to-GSDP ratio "was not located in the tables read for this chapter." Both were true of the Economic Review and both were wrong as statements about the available sources — the Budget Speech of 11 February 2026 carries the 2026-27 Budget Estimates in its paragraph 254 and the debt ratio of 36.8 per cent of GSDP in its paragraph 255. Section 10 now carries both. Corrected 30 August 2026.
Not asserted here: any 2026-27 outturn, as distinct from the Budget Estimates in section 10; any figure for the eight districts created in 2023 and retained; any national rank for Rajasthan's economy, which no state document can settle; a debt-to-GSDP ratio for any year other than the 2026-27 Budget Estimate; and expenditure-side detail, which belongs with the chapters on sectors and schemes.
BharatNotes