Delhi’s GSDP grew 5.8% annually, per capita income 7% in last decade: Report

The gross state domestic product (GSDP) and per capita income of Delhi registered an annual growth of more than 5 per cent and 7 per cent, respectively, in the last decade, said a report.

The share of Delhi’s GSDP contribution to all India GDP at constant prices, however, recorded a decline during the period, according to the report.

At constant prices, Delhi’s GSDP contribution to national GDP was 3.94 per cent in 2011-12 and is estimated to be at 3.79 per cent in 2024-25, it said.

The report recently released by the Delhi government’s Directorate of Economics and Statistics, stated that Delhi’s GSDP at constant (2011-12) prices was expected to increase from Rs 3,43,798 crore in 2011-12 to Rs 7,11,486 crore in 2024-25 with an annual average growth rate of 5.86 per cent during the 13-year period between 2011-12 to 2024-25.

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However, at current prices it was expected to increase from Rs 3,43,798 crore in 2011-12 to Rs 12,15,003 crore in 2024-25, an annual average growth rate of 10.34 percent during 2011-12 to 2024-25.

The Net State Domestic Product (NSDP) at current prices, also known as state income, was expected to touch Rs 10,83,765 crore in 2024-25 as compared to Rs 3,14,650 crore during 2011-12, registering annual average growth rate of 10.14 per cent.

The GSDP is a measure in monetary terms of the volume of all goods and services produced by an economy during a given period of time. It is also an indicator of economic growth of the state.

The report also stated that Delhi’s GSDP (at constant prices) contracted by 8.96 per cent during 2020-21 due to the impact of Covid-19 pandemic.

However, advance estimates suggest that Delhi’s economy is expected to witness real GSDP expansion of 6.21 per cent in 2024-25 and real growth of 9.16 per cent in 2023-24.

This implies that overall economic activity has recovered past the pre-pandemic levels, it said.

The report said Delhi’s per capita income for 2024-25 at current prices has been worked out at Rs 4,93,024 as against Rs 4,59,408 during 2023-24 showing a growth of 7.32 per cent.

The annual average growth rate of per capita income of Delhi over the period 2011-12 to 2024-25 was registered at 7.99 per cent at current prices. In real terms, the per capita income of Delhi was calculated at Rs 2,83,093 in 2024-25 as against Rs 1,85,001 in 2011-12, revealing an average annual growth rate of 3.46 per cent, it said.

In real terms, per capita income at national level has increased from Rs 63,462 in 2011-12 to Rs 1,14,710 in 2024-25 with average annual growth rate of 4.75 per cent.

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Delhi’s per capita income at current prices was estimated to be 2.4 times higher as compared to the national level during 2024-25, noted the report.

The share of Delhi’s GSDP to all-India GDP at constant prices was expected to be 3.79 per cent during 2024-25.