SRINAGAR: The economy of Jammu and Kashmir continued on a path of steady expansion and as per the advance estimates, Real Gross State Domestic Product (GSDP) is expected to grow by 5.82 per cent while the unemployment rate has declined to 6.1% in 2023-24 from 6.7% in 2019-20, reveals the Economic Survey report.
As per the report, J&K’s economy grew at a compound annual growth rate (CAGR) of 4.47 percent, a rate faster than three northern states viz. Delhi (3.95 percent), Himachal Pradesh (3.68 percent), and marginally higher than Haryana (4.43 percent).
The Economic Survey Report was presented in J&K Assembly by Chief Minister Omar Abdullah today.
As per the report, during 2025-26, the economy of J&K continued on a path of steady expansion.
“As per the Advance Estimates, Real Gross State Domestic Product (GSDP) is expected to grow by 5.82 per cent, while Nominal GSDP is estimated to increase by 8.89 per cent, placing the size of the economy at approximately Rs 2.86 lakh crore in nominal terms and Rs.1.50 lakh crore in real terms,” the report reveals.
“Between 2019-20 and 2024-25, J&K achieved a compound annual growth rate of 4.47 per cent in real GSDP, reflecting resilience and recovery in the post pandemic period. Per Capita Income, estimated at Rs 1,68,243 in 2025-26, has maintained a sustained upward trajectory, recording growth rates higher than several northern States and Union Territories,” it states.
According to the report, revenue receipts of Rs 13,521 crore were realised up to November 2025, with notable growth in tax and non-tax revenues, particularly GST, excise, and power-related revenues.
The capital expenditure has been prioritised for infrastructure creation, asset development, and completion of ongoing projects.
“J&K is estimated to achieve a CAGR of 4.47 per cent in real GSDP during 2019-20 to 2024-25. Per Capita Income (Per Capita NSDP) is estimated at Rs.1,68,243 in 2025-26 in nominal terms (Advance Estimates), compared to the national per capita income of Rs 2,19,575,” it states.
As per the report, comparative analysis of Per Capita Income (PCI) further indicates that J&K’s per capita income in nominal terms recorded a higher growth rate than several northern States/UTs during the period 2019-20 to 2024-25.
“During this period, J&K’ per capita income grew at a compound annual growth rate (CAGR) of 8.81 per cent, which is higher than that of Himachal Pradesh (6.54 per cent), Delhi (6.74 per cent), Punjab (7.46 per cent), Chandigarh (8.21 per cent), and Haryana (8.72 per cent),” it states.
As per the report, the comparative study of the real growth performance of union territory of J&K vis-à-vis All India and northern states from 2019-20 to 2024-25 reveals a positive trend in the UT’s compound annual growth rate (CAGR).
It indicates that in this period, J&K’s economy grew at a compound annual growth rate of 4.47 percent, a rate faster than three northern states viz. Delhi (3.95 percent), Himachal Pradesh (3.68 percent), and marginally higher than Haryana (4.43 percent).
According to the report, unemployment Rate on usual status has declined to 6.1% in 2023-24 from 6.7% in 2019-20 showing significant progress in employment status.
“Labour Force Participation Rate (LFPR) in J&K is 64.30% in 2023-24 as against 56.30% in 2019-20, while as; Worker Population Ratio (WPR) has increased to 60.40 % in 2023-24 as from 52.50 % in 2019-20. Both parameters have shown significant progress over the year,” it stated.
On investment, the report reveals that during the last seven years 2,227 units with Rs. 15,940 cr investment became operational in J&K resulting into enhancement of investment from Rs. 4146 cr. in 2024-25 to Rs. 5260 cr. In 2025-26 (ending Dec.2025) registering a record growth of 26.86% with-in 3 Qtrs. of the financial year 2025-26.
“New Central Sector Scheme (NCSS) has attracted proposed investment of Rs.14,292 crore, with 440 new applications, of which 386 units worth Rs.9,074 crore have commenced production expecting to generate employment opportunities for more than 50,000 youth,” it added.