Delhi’s per capita income dropped in 2020-21: What the economic survey says
Delhi’s per capita income, which has been the second-highest in India after Goa’s for years now, dropped from ₹3,76,211 in 2019-20 to ₹3,54,004 in 2020-21. The state gross domestic product (SGDP) shrunk by around 5.68%, according to the economic survey tabled by the Delhi government in the assembly on Monday, which cited impact from the Covid-19 outbreak. Here is all you need to know about the finding:
• This is the first time since 2010-11 that the per capita income in the country’s capital has shrunk, a consequence of the Covid-19 pandemic, the economic survey said.
• The 5.7% contraction in the SGDP signals the city-state’s economy did better than the national average, which is expected to shrink in the 7-8% range for the financial year.
• “The contraction in GSDP in Delhi is 5.68% during 2020-21 compared to a contraction of 8% at the national level in 2020-21,” the economic survey said.
• On Monday, the government also tabled the Outcome Budget for 2020-21.
• Delhi’s finance minister Manish Sisodia said, “The financial year 2020-21 started in the shadow of Covid-19 pandemic and a strict lockdown that brought all socio-economic activities to a halt. While our government put up a brave fight against the pandemic, it caused great distortion in the government’s routine activities. Revenue collection nose-dived and government’s resources and efforts were focused on minimising the impact of Covid-19.”
• At market prices, the GSDP of Delhi for FY2021 is ₹7,98,310 crore, which the government said represented a contraction of 3.92% over the previous year.
• In 2019-20, government data showed Delhi’s GSDP at market price was ₹8,30,872 crore.
• The GSDP is the total value of all finished goods and services produced in a given period of time within the geographical boundaries of a state.
• In terms of per capita income, the economic survey projected a drop from ₹3,76,221 in 2019-20 to ₹3,54,004 in 2020-21 – a decrease of 5.9%.
• The government noted in its report that Delhi’s per capita income pegged is “almost three times the national average of ₹127,768”.
• In 2011-12, Delhi’s per capita income at market price was ₹1,85,001.
• According to the Delhi government, the city-state has maintained a “consistent revenue surplus” – this was ₹7,499 crore in 2019-20 and ₹6,261 crore in 2018-19.