DEHRADUN: Uttarakhand’s economy has expanded 21 times in the past 23 years, surpassing the growth of Jharkhand and Chhattisgarh—both formed on 9 November 2000. This key finding is detailed in the Economic Survey Report for 2024-25, presented by Parliamentary Affairs Minister Prem Chand Agarwal in the assembly.
During his presentation, Agarwal stated, "The report clearly indicates Uttarakhand's significant progress, highlighting our unwavering commitment to development."
The newly released Economic Survey Report for 2024-25 projects a growth rate of 6.61 per cent for Uttarakhand, despite a provisional estimate of a 7.83 per cent increase for the period spanning 2023-26.
At its inception, Uttarakhand's economy was valued at Rs 15,826 crore. By the fiscal year 2011-12, this figure had soared to Rs 1,15,328 crore and is projected to reach Rs 3,32,998 crore for 2023-24. Current estimates place the state's economy at approximately Rs 3,78,245 crore. In comparison, Jharkhand's economy has expanded 13 times, while Chhattisgarh's has grown 17 times.
Minister Agarwal remarked on these findings, saying, "The data shows how well Uttarakhand is growing. We are dedicated to promoting economic development, and these numbers highlight our efforts to improve the state's prosperity."
The report also indicates that Uttarakhand has surpassed both Jharkhand and Chhattisgarh in per capita income. "At the time of its formation, Uttarakhand's per capita income was Rs 16,232," the report states.
By 2011-12, this figure had risen to Rs 1,00,314 and is projected to reach Rs 2,46,178 in 2023-24. In contrast, Chhattisgarh’s per capita income started at Rs 12,170 and rose to Rs 1,47,361 by 2023-24. Meanwhile, Jharkhand’s per capita income began at Rs 11,034, increasing to Rs 41,254 in 2011-12 and ultimately reaching Rs 1,05,274 in 2023-24.
Looking ahead, experts predict that Uttarakhand's per capita income could hit Rs 2,74,064 in 2024-25.
However, the Economic Survey Report highlights concerns about the primary sector, with declines noted in agriculture and animal husbandry. "The contribution of this sector to the economy has dwindled to a mere 9.34 per cent," the report states.
Conversely, the tertiary sector has seen substantial growth, now accounting for 44.65 per cent of the economy at current prices. This includes transportation, warehousing, communications, trade, hotels, restaurants, financial services, and public administration.
The secondary sector contributes 46.02 per cent to the economy, with manufacturing holding the largest share at 58.56 per cent. Additionally, the construction sector contributes 34.32 per cent, while utilities such as electricity, gas, water supply, and other services account for 7.12 per cent of the overall economic contribution.