Capital’s per capita income rose by 22% in 2 years: Economic Survey : The Tribune India

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Capital’s per capita income rose by 22% in 2 years: Economic Survey

Finance Minister says Delhi economy to grow at 9.17% in FY24

Capital’s per capita income rose by 22% in 2 years: Economic Survey

Finance Minister Atishi Singh on her way to present the Economic Survey of Delhi 2023-24 on Friday. Tribune Photo: Mukesh Aggarwal



Tribune News Service

Samad Hoque

New Delhi, March 1

The Capital’s per capita income increased by 22 per cent in two years to Rs 4,61,910 in 2023-24, Finance Minister Atishi said while tabling the Economic Survey for 2023-24 financial year on Friday. The national per capita income for 2023-24 was recorded at Rs 1,85,854.

Budget on March 4

  • The Capital’s per capita income increased by 22 per cent in two years to Rs 4,61,910 in 2023-24
  • Inflation in Delhi was 2.81 per cent in January-December 2023, while the national inflation was 5.65 per cent in the period
  • The unemployment rate of Delhi came down to 1.9 per cent in 2022-23
  • Budget for 2024-25 financial year to be presented on March 4

Atishi highlighted that despite facing “hurdles and conspiracies”, Delhi’s economy has witnessed growth, accompanied by increases in per capita income, revenue and surplus profit. She further informed the House that the budget for the financial year 2024-25 would be presented on March 4.

Regarding economic indicators, Atishi stated that the per capita income of Delhi rose from Rs 3,76,217 in 2021-22 to Rs 4,61,910 in 2023-24.

Additionally, she emphasised the surge in power demand, noting that it peaked at 7,695 MW in 2022-23, compared to 5,653 MW in 2013-14. Furthermore, Delhi’s consumption of electricity increased by 859 million units during the same period.

Reading out the Economic Survey, she stated, “The Gross State Domestic Product (GSDP) of Delhi at current prices during 2023-24 is likely to reach Rs 11,07,746 crore, reflecting a growth of 9.17 percent over 2022-23.”

“The GSDP of Delhi in 2022-23 was Rs 10,14,000 crore. In post-Covid times, our real GSDP grew at 8.76 per cent in 2021-22 and 7.85 per cent in 2022-23, faster than the rest of the country,” she said.

Delhi’s contribution to the national GDP is 3.9 per cent despite its population being just 1.5 per cent of the total population of the country, she said.

The report said inflation in Delhi was 2.81 per cent in January-December 2023 while the national inflation was 5.65 per cent in the period. The unemployment rate of Delhi has come down to 1.9 per cent in 2022-23, she added.

The Finance Minister emphasised that the two most significant challenges facing the country today are inflation and unemployment. She stated, “Currently, India ranks second in the world in terms of inflation rates. Over the past 10 years, inflation in our country has increased by more than 70 per cent.”

She claimed that Delhi has the lowest inflation in the country.

Furthermore, she highlighted that 25 per cent of the youth in the country are unemployed, with 42 per cent of graduates facing joblessness. However, she noted that in Delhi, the unemployment rate decreased from 6.3 per cent in 2020-21 (post-Covid) to 1.9 per cent in 2022-23, attributing this improvement to Chief Minister Arvind Kejriwal’s efforts over the past two years, which provided a boost to the economy.

Additionally, she revealed that in 2021-22, Delhi recorded a surplus revenue of Rs 3,270 crore, which surged to Rs 14,457 crores in 2022-23. Delhi’s tax collection has registered a growth of 18 per cent during 2022-23, she said.

Quote: In the last two years, the unemployment rate has declined to 1.9 per cent as the Kejriwal government has given a fillip to Delhi’s economy even as free-of-cost services like electricity, water, health, education, bus rides for women, pilgrimage of senior citizens have been provided.

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