Maharashtra tops state rankings with strong financial & economic show

MUMBAI: Maharashtra emerged as India’s best-performing state in CareEdge Ratings’ 2025 state rankings, followed by Gujarat and Karnataka. The annual index, based on 50 quantitative indicators across seven pillars-economic, fiscal, infrastructure, financial development, social, governance, and environment-places Maharashtra at the top for financial development, with strong performances in economic, fiscal, and social metrics.Gujarat leads the economic pillar, driven by high per capita GSDP, FDI inflows, and industrial capital formation, while Karnataka ranks high due to its diversified economic base and environmental record.
Western and southern states dominate the upper tier of the rankings. Goa tops Group B, comprising north-east, hilly, and small states, scoring consistently across financial, infrastructure, economic, and social indicators. Odisha leads in fiscal management with sound debt control and low interest burdens, followed by Gujarat and Maharashtra. Punjab and Haryana stand out in infrastructure, while Kerala and Tamil Nadu score high in social development.Andhra Pradesh ranks first in governance, and Karnataka leads in environmental performance. The rankings exclude Union Territories and aim to provide a comparative, data-driven view of state-level progress and investment appeal.