Telangana is India's richest major State by per capita income in 2022-23, with ₹3.54 lakh at current prices. It leads over Karnataka (₹3.44 lakh), Haryana (₹3.24 lakh), Gujarat (₹3.1 lakh), Tamil Nadu (₹3.09 lakh), Kerala (₹2.9 lakh), and Maharashtra (₹2.89 lakh). After its formation in 2014, Telangana's economy grew quickly. Its economic size is now almost equal to Andhra Pradesh's, at 96.5% in 2024-25. Telangana's per capita income is 1.35 times that of Andhra Pradesh. The services sector powers Telangana’s growth, reaching 1.47 times Andhra Pradesh's level. Real estate and IT along with trade, hotel, and restaurants lead this surge. These two sub-sectors make up about two-thirds of Telangana’s services output in 2024-25, with real estate and IT at 35.3%, and trade, hotel, and restaurants at 29.6%. Hyderabad and Ranga Reddy districts dominate Telangana’s economy. Together, they produce nearly 47.5% of the State’s output on just 8.7% of its land and house 27.9% of the population (2011 Census). Ranga Reddy overtook Hyderabad in 2014 as the top economic district, driven by a booming IT sector. Once a backward area, it now has a per capita income of ₹9.5 lakh in 2023-24. However, growth is uneven. Vikarabad district has the lowest per capita income at ₹1.8 lakh and accounts for just 1.5% of Telangana's output. This sharp divide risks social and political tensions. Experts urge policies to spread economic benefits across all districts to balance growth. Telangana’s story shows a dynamic rise led by Metro Hyderabad but calls for more inclusive progress.