Delhi records annual growth of 5.8% in GSDP, 7% in per capita income in last decade: Report
The share of Delhi’s GSDP contribution to all India GDP at constant prices, however, recorded a decline during the period, according to the report.
At constant prices, Delhi’s GSDP contribution to national GDP was 3.94% in 2011-12 and is estimated to be at 3.79% in 2024-25, it said.
The report recently released by the Delhi government’s Directorate of Economics and Statistics, stated that Delhi’s GSDP at constant (2011-12) prices was expected to increase from Rs 3,43,798 crore in 2011-12 to Rs 7,11,486 crore in 2024-25 with an annual average growth rate of 5.86% during the 13-year period between 2011-12 to 2024-25.
However, at current prices it was expected to increase from Rs 3,43,798 crore in 2011-12 to Rs 12,15,003 crore in 2024-25, an annual average growth rate of 10.34% during 2011-12 to 2024-25.
The Net State Domestic Product (NSDP) at current prices, also known as state income, was expected to touch Rs 10,83,765 crore in 2024-25 as compared to Rs 3,14,650 crore during 2011-12, registering annual average growth rate of 10.14%. The GSDP is a measure in monetary terms of the volume of all goods and services produced by an economy during a given period of time. It is also an indicator of economic growth of the state. The report also stated that Delhi’s GSDP (at constant prices) contracted by 8.96% during 2020-21 due to the impact of Covid-19 pandemic.
However, advance estimates suggest that Delhi’s economy is expected to witness real GSDP expansion of 6.21% in 2024-25 and real growth of 9.16% in 2023-24.
This implies that overall economic activity has recovered past the pre-pandemic levels, it said.
The report said Delhi’s per capita income for 2024-25 at current prices has been worked out at Rs 4,93,024 as against Rs 4,59,408 during 2023-24 showing a growth of 7.32%.
The annual average growth rate of per capita income of Delhi over the period 2011-12 to 2024-25 was registered at 7.99% at current prices. In real terms, the per capita income of Delhi was calculated at Rs 2,83,093 in 2024-25 as against Rs 1,85,001 in 2011-12, revealing an average annual growth rate of 3.46%, it said.
In real terms, per capita income at national level has increased from Rs 63,462 in 2011-12 to Rs 1,14,710 in 2024-25 with average annual growth rate of 4.75%.
Delhi’s per capita income at current prices was estimated to be 2.4 times higher as compared to the national level during 2024-25, noted the report.
The share of Delhi’s GSDP to all-India GDP at constant prices was expected to be 3.79% during 2024-25.