NEW DELHI: Delhi’s GDP is projected to reach Rs 11,07,746 crore in 2023-24, marking a growth of 9.17% compared to the previous fiscal year, when it stood at Rs 10,14,000 crore. Despite the challenges posed by the Covid-19 pandemic, Delhi’s real GDP exhibited a notable increase, with growth rates of 8.76% in 2021-22 and 7.85% in 2022-23, surpassing many other states.
Finance minister Atishi presented the Economic Survey during the budget session, revealing the statistics on Friday. She pointed out that despite comprising only 1.5% of the country’s population, Delhi contributes nearly 4% to the national GDP.
The per capita income in Delhi, which was Rs 3,76,217 in 2021-22, has risen to Rs 4,61,910 in 2023-24, indicating a growth of 22% over the past two years, the minister said. Delhi’s per capita income now stands at 2.5 times the national average.
The minister said that inflation in the country has surged by over 70% in the last decade. For instance, the cost of a gas cylinder, which was Rs 300 in 2014-15, has escalated to Rs 1,200. However, Delhi’s inflation rate, standing at 2.81%, is lower than the national average of 5.65%, as reported by the Central government for the year 2023.
Highlighting unemployment as the nation’s second-largest challenge, the minister noted that 25% of the country’s youth and 42% of graduates are currently unemployed. Efforts made by the government have led to a decrease in the unemployment rate, from 6.3% in 2020-21 to 1.9% in 2022-23, said the finance minister.
Aitishi said the government has provided free electricity to people of Delhi, and in 2022-23, and nearly 3.41 crore ‘0’ power bills were generated for consumers. She said the government was providing free water to people up to 20 kilolitres, benefiting 24.72 lakh consumers.
Per capita income up 22%
Delhi’s per capita income up by 22% to `4.61 lakh in ’23-24 — 2.5 times higher than the national average
In 21-22, Delhi placed third in the list of per capita income behind Sikkim and Goa
9.17% economic growth for FY24 projected
GSDP of Delhi expected to reach `11,07,746 cr
GSDP contributes nearly 3.9% to India’s GDP despite its 1.5% population share
Delhi’s contribution to national GDP nearly 4%
Revenue surplus state with significant growth
Delhi Inflation at 2.81% in Jan-Dec 2023, lower than the national rate of 5.65%
Unemployment rate down at 1.9% in 2022-23
A revenue surplus of `3,270 cr in 2021-22 which increased to `14,457 cr in 2022-23
Electricity consumption has risen by 859 million units