Delhi’s per capita income grew by 7.54% in 2022-23: Economic Survey projects

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

Delhi’s per capita income is expected to grow by 7.54% this fiscal, compared to financial year ending March 31, 2022, at current prices – rising from ₹2,52,024 to ₹2,71,019. The per capita state GDP is expected to reach ₹6,52,649 crore, or, in per capita terms, breach ₹ 3 lakh for the first time, at constant price. The state GPD growth rate was at 9.18% over the 2021-22 fiscal.

Finance minister Kailash Gahlot tabled in the survey in the assembly. (Twitter)

These figures were part of the economic survey tabled by the finance minister on Monday, who said the economic activity recovered faster than nationally past the pre-Covid-19 pandemic levels. The per capita income in the capital has always been around 2.6 times higher compared to the national average both at current and constant prices. The survey was presented by state finance minister Kailash Gahlot.

The report, which finance minister Kailash Gahlot tabled, 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 Gross State Domestic Product (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 real GSDP of Delhi recovered sharply with a growth of 9.14% and 9.18% in 2021-22 and 2022-23 on the back of the inherent strength of the economy, the survey said.

It added the advance estimate of GSDP at constant prices in 2022-23 was ₹652,649 crore, showing a 9.18% growth over 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%).