Delhi’s economy has recorded a significant increase in the last decade. According to the recent report by the Directorate of Economic and Statistics of the Delhi Government, where the state’s GDP saw an average annual increase of 5.86% in the GSDP, while the per capita income also had an average growth rate of 7.99%. According to PTI news, however, despite this economic development, Delhi’s contribution to India’s total GDP has decreased. Delhi’s stake in 2011-12 was 3.94%, which is estimated to be reduced to 3.79% in 2024–25.
Dual increase in GSDP
Stable (2011-12) prices: 2011-12: ₹ 3,43,798 crore
2024-25 (estimate): ₹ 7,11,486 crore
Average annual growth: 5.86%
On current prices: 2011-12: ₹ 3,43,798 crore
2024-25 (estimate): ₹ 12,15,003 crore
Average annual growth: 10.34%
Increase in state income (NSDP)
2011-12: ₹ 3,14,650 crore
2024-25 (estimate): ₹ 10,83,765 crore
Average annual growth: 10.14%
Impact and improvement of Kovid-19
Delhi’s GSDP declined by 8.96% in 2020-21 during Kovid-19. However, there is a rapid improvement after this:
Estimated increase in 2023-24: 9.16%
Estimated increase in 2024-25: 6.21%
Bounce per capita income
2023-24: ₹ 4,59,408
2024-25 (estimate): ₹ 4,93,024
Increase: 7.32%
Between 2011-12 to 2024-25:
Increase on current prices: 7.99% per year
At stable prices:
2011-12: ₹ 1,85,001
2024-25: ₹ 2,83,093
Growth Rate: 3.46% per year
Comparison of national level
India’s per capita income (at stable prices):
2011-12: ₹ 63,462
2024-25: ₹ 1,14,710
Growth Rate: 4.75% per year
According to the report, Delhi’s per capita income is estimated to be around 2.4 times the national average in 2024-25, which maintains it in the most prosperous states of the country.
Revenue Surplus maintained
Delhi has maintained its revenue surplus continuously; It increased to ₹ 14457 crore during 2022-23 (provisional), while in 2021-22 it was ₹ 3270 crore. During 2022-23, Delhi’s revenue surplus was 1.42% of GSDP and 0.52% during 2023-24 (budget estimate). Let me tell you one more thing, the state government had an outstanding loan of ₹ 32080.31 crore in 2013-14, which was equal to 6.48% of its GSDP. There is an outstanding loan of ₹ 40017.55 crore by 31.03.2023, resulting in the loan GSDP ratio of 3.94%.
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