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Lower inflation, increase in per capita income, revenue: Delhi Economic Survey

Mar 01, 2024 03:43 PM IST

Finance minister Atishi said the Union government did not leave any stone unturned in obstructing the Delhi government’s works during the period covered in the survey

Finance minister Atishi on Friday cited a 22% increase in per capita income, the fastest Gross State Domestic Product (GSDP) growth, an 18% rise in tax collection, lower inflation and unemployment rates and said Delhi’s economy has increased at a record pace as she presented this year’s Economic Survey in the assembly.

Delhi finance minister Atishi arriving to present the Economic Survey in the assembly. (PTI)
Delhi finance minister Atishi arriving to present the Economic Survey in the assembly. (PTI)

She said the per capita income increased from 3,76,217 in 2021-22 to 4,61,910 in 2023-24. Atishi added it is 2.5 times higher than the national per capita income. “GSDP of Delhi at current prices during 2023-24 is likely to reach 11,07,746 crore at a growth of 9.17% over 2022-23.”

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Atishi said GSDP was 10,14,000 crore in 2022-23. “In post-Covid times, our real GSDP grew at 8.76% in 2021-22 and 7.85% in 2022-23, faster than the rest of the country,” Atishi said. She added Delhi accounts for 1.5% of India’s population while it contributes nearly 3.9% to its GDP.

Atishi referred to the period covered in the survey, which Delhi’s planning department prepares with sector-wise inputs from different departments, and said the Union government did not leave any stone unturned in obstructing the Delhi government’s works during this time. “...schemes were stopped...research fellows of the Delhi assembly, operators in the hospitals were removed. Tests and medicine supply in Mohalla Clinics were stopped.”

She added the Union government snatched control of officers given to the Delhi government. “Officers were threatened not to work for the Delhi government.”

She referred to the data from the survey, which is presented before the annual budget and is an annual report on the economic performance and the government’s achievements, and said it shows the economy grew at a record pace over the last year. “The survey shows that the per capita income, the revenue of the government has increased...,” she said.

“I want to tell the Centre and its LG [lieutenant governor] that despite all their efforts, the development of the people of Delhi will not stop until Arvind Kejriwal is the chief minister.”

Atishi said Delhi recorded a revenue surplus of 3,270 crore in 2021-22 which increased to 14,457 crore in 2022-23. She added the ratio of interest payment to revenue receipts declined to 5.21% in 2022-23 from 11.20% in 2012-13.

Atishi credited Kejriwal’s leadership for the economic achievements and added Delhi’s inflation rate of 2.81% from January to December 2023 was lower than the national rate of 5.65%. “Delhi’s unemployment rate in 2020-21 [post-Covid) was 6.3% and 1.9% in 2022-23,” Atishi said.

She said Delhi is in revenue surplus even as it offers free services. “Each family in Delhi saves thousands of rupees monthly due to the free services. The savings are used to meet other expenditures and the money circulates in the economy. The free services have also contributed to the economic development.”

She added the savings have created additional demand and contributed to the fastest recovery of the economy post-pandemic.

Atishi cited a Reserve Bank of India report and said Delhi’s allocation of 21% of the budget to education was higher than the national average of 13%. She added Delhi spent 16.1% of the budget on health.

She said Delhi’s electricity consumption has risen by 859 million units. “The peak demand increased from 5653 MW in 2013-14 to 7695 MW in 2022-23.”

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  • ABOUT THE AUTHOR
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    Alok K N Mishra is a journalist with the Hindustan Times, New Delhi. He writes on governance, policy and politics. He is an ardent follower of politics and is fascinated about making politics work better for the middle-class and the poor. He loves to discuss and predict the national political behaviour. Before shifting to Delhi, he covered political instability, governance, and misgovernance besides Maoists insurgency in Jharkhand for almost half a decade. He started out in 2010 as a city reporter with Times of India, Patna.

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