Delhi’s per capita state GDP to cross ₹3 lakh: Economic Survey projects | Latest News Delhi - Hindustan Times
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Delhi’s per capita state GDP to cross 3 lakh: Economic Survey projects

ByAlok KN Mishra, New Delhi
Mar 21, 2023 02:58 AM IST

At constant prices, the per capita income in Delhi is projected to rise from ₹2,52,024 in the 2021-22 financial year to ₹2,71,019 in the 12-month period ending on March 31.

Delhi’s per capita income is projected to rise by 7.54% this fiscal and its economy by 9.2% by the end of the current financial year, the government said in the Economic Survey tabled in the assembly on Monday, with finance minister Kailash Gahlot saying the overall economic situation in the Capital had recovered faster than the national average following the pandemic.

Delhi Chief Minister Arvind Kejriwal and finance minister Kailash Gahlot.
Delhi Chief Minister Arvind Kejriwal and finance minister Kailash Gahlot.

At constant prices, the per capita income in Delhi is projected to rise from 2,52,024 in the 2021-22 financial year to 2,71,019 in the 12-month period ending on March 31. The per capita gross state domestic product (GSDP) is expected to reach 6,52,649 crore, or, in per capita terms, breach the 3 lakh mark. The GSDP growth rate was at 9.18% over the 2021-22 fiscal.

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“The Arvind Kejriwal government has taken a number of steps to reinvigorate the economy. Delhi’s per capita income was always been around 2.6 times higher when compared to national average, both at current and constant prices… Overall economic activity in Delhi has recovered more faster compared to national past the pre-pandemic levels. In the years 2021-22 and 2022-23, a sharp recovery of real GSDP of Delhi with growth of 9.14% and 9.18% respectively is based on a low base effect and inherent strengths of the economy,” finance minister Kailash Gahlot said.

The numbers released by Gahlot showed that while Delhi’s growth performance was at par with India’s overall growth rate in 2021-22, it is projected to be 2.1 percentage points higher in 2022-23.

The report said Delhi has maintained its consistent revenue surplus. “...it increased to 3,270 crore during 2021-22 (provisional) as compared to 1,450 crore in 2020-21.”

Delhi’s revenue surplus was 0.36% of the GSDP in 2021-22 and 0.73% in 2022-23, said the report.

The tax collection registered a 36% growth in 2021-22 (provisional) compared to the negative growth of 19.53% in 2020-21 due to the pandemic. The survey said all components of tax revenue positively increased in 2021-22.

The service sector was predominant in the economy with an 84.84% contribution to gross value added (at current prices) in 2022-23 followed by the secondary sector (12.53%) and the primary sector (2.63%).

Among the key civic issues, the survey showed that Delhi’s water treatment capacity increased 13% over the past decade to 943 million gallons per day (MGD) in 2022 from 906 MGD in 2014.

On transport, the Delhi Transport Corporation (DTC), the capital’s largest public bus transport facility, continues to bleed, with losses expected to mount to 3,004 crore in the year to March 31, compared with 1,730 crore in losses in 2017-18.

For pedestrians, Delhi is reported to have added 27 foot over-bridges over the last two years, and for road commuters, the net road length has seen a marginal rise from 18,366.97km in March 2021 to 18,460.37km in March 2022.

The report also mentions 11 key infrastructures on major transportation corridors that have been completed or are underway

On power, there was a sharp fall in subsidy released by the Delhi government: it fell to 1,644.50 crore in 2022-23 up to February, compared with 3,250 crore in 2021-22, the survey said.

In 2019-20, the government had released 2,405.59 crore for power subsidy, which increased to 2,939.99 crore in 2020-21.

The opposition Bharatiya Janata Party (BJP) criticised the survey and called it a “gimmick”.

“The finance minister should have presented economic growth data of Delhi, but he instead presented frivolous data on bus marshals and the number of patients being treated in hospitals and mohalla clinics,” said Kapoor.

He also said that all the infrastructure development in the Capital is being done by the central government.

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