Andhra Pradesh is one of the 29 states of India, situated on the southeastern coast of the country. The state is the eighth largest state in India covering an area of 160,205 km2 (61,855 sq mi). As per 2011 census of India, the state is tenth largest by population with 49,386,799 inhabitants. On 2 June 2014, the north-western portion of the state was bifurcated to form a new state of Telangana. In accordance with the Andhra Pradesh Reorganisation Act, 2014, Hyderabad will remain the de jure capital of both Andhra Pradesh and Telangana states for a period of time not exceeding 10 years. The new river-front proposed capital in Guntur district is Amaravati, which is under the jurisdiction of APCRDA. Economically, the Gross State Domestic Product (GSDP) of Andhra Pradesh at today’s prices stood at ₹2359.3 billion (US$35 billion) and the Gross State Domestic Product at the prices for the 2013 financial year were ₹4193.91 billion (US$63 billion). The average income of the state rose 62.6% from ₹25,959 (US$390) (2004–05) to ₹42,186 (US$630) (2012-13).