E-Paper
J&K: Govt’s economic survey reveals a decline in economic strength than last year
In comparison to the survey of 2024-25, the latest economic survey has indicated a decline in estimated growth rate of real-GSDP, nominal-GSDP and compound annual growth rate(CAGR).
Jammu and Kashmir’s key economic indicators have shown a decline in economic strength in some major parameters like the estimated growth of gross state domestic products(GSDPs) in comparison to last financial year , the 2025-26 economic survey of the government which was released on Thursday revealed.
In comparison to the survey of 2024-25, the latest economic survey has indicated a decline in estimated growth rate of real-GSDP, nominal-GSDP and compound annual growth rate(CAGR). However some parameters have shown an improvement like a decrease in inflation from 4.5% in 2024 to 3.8% in 2025 and an increase in per capita income from ₹1,54,703 to ₹1,68,243(Per Capita NSDP at current prices)
The latest economic survey stated that the Real GSDP of Jammu & Kashmir is estimated to grow by 5.82 per cent, while Nominal GSDP is estimated to grow by 8.89 per cent in 2025-26.
“The size of the economy is estimated at approximately Rs.2.86 lakh crore in nominal terms and Rs.1.50 lakh crore in real terms,” the survey report said.
However, a cursory look at the last financial year’s(2024-25) survey indicated that the grown expectation then was more with the real GSDP expected to grow at 7.06 percent and the nominal GSDP at 11.19 percent.The economy’s size was, however, estimated to be approximately Rs. 2.65 lakh crores in nominal terms and Rs. 1.45 lakh crores in real terms during 2024-25.
The Union Territory is estimated to achieve a CAGR of 4.47 per cent in real GSDP during 2019-20 to 2024-25 as per the latest survey. Per Capita Income (Per Capita NSDP) is estimated at Rs.1,68,243 in 2025-26 in nominal terms (Advance Estimates) which is significantly below compared to the national per capita income of Rs.2,19,575.
“Between 2019-20 and 2024-25, the Union Territory achieved a compound annual growth rate of 4.47 per cent in real GSDP, reflecting resilience and recovery in the post pandemic period,” the chief secretary wrote in the preface of the latest survey.
However , as per 2024-25 survey, the J&K UT was estimated to achieve a compound annual growth rate of 4.89 percent in its real Gross State Domestic Product from 2019-20 to 2024-25 in comparison to 4.81 percent growth rate recorded from 2011-12 to 2019-20.
The 2025-26 economic survey’s comparative analysis of Per Capita Income (PCI) indicated that Jammu & Kashmir’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, Jammu & Kashmir’s 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),” the report said.
It also stated that the inflation in J&K has decreased from 4.5% in 2024 to 3.8% in 2025 showing an overall decrease of 0.7 percentage points.
“Revenue of Rs. 13,521 crore has been realized during current FY 2025-26 till November, 2025, which is 64% of revenue of Rs. 21,121 crore realized in FY 2024-25,” it said.
