E-Paper
HP’s per-capita income rises 6.6% in 2019-20, reveals economic survey
The per capita income is estimated at ₹1,95,255 in 2019-20 as compared to ₹1,83,108 in the previous fiscal.
The growth rate in per capita income showed an increase of about 6.6% for the financial year 2019-2020, in Himachal Pradesh, according to the economic survey presented in the state assembly on Thursday.
Chief minister Jai Ram Thakur who also holds the finance portfolio tabled the economic survey in the Vidhan Sabha.
The per capita income is estimated at ₹1,95,255 in 2019-20 as compared to ₹1,83,108 in the previous fiscal.
The state is expected to grow at a slower pace of 5.6% in 2019-20 as the total gross state domestic product (GSDP) at constant prices is estimated at ₹1,24,403 crore against ₹1,17,851 crore in 2018-19. At current prices the GSDP is likely to be around ₹1, 65,472 crore approximately against ₹ 1, 53,845 crore during 2018-19.
The growth of 5.6 % during 2019-2020 is mainly attributed to the primary sector (9.3 %) and community and personal services sector (7.7 %). The secondary sector showed a growth of 3.9%. Due to an increase in horticulture production by 42.82%, the overall primary sector registered a growth of 9.3 % which ultimately shows an overall growth of 5.6%.
The share of agriculture and allied sectors in the Gross Value Added (GVA) declined from 15.35% to 12.73% in 2019-20.
The contribution of tourism sector to the state’s GDP is about 7%.
Himachal Pradesh has an estimated hydro potential of 27,436MW, out of which 24,000MW has been assessed as harnessable.
The expenditure on education, as percentage of GSDP increased from 4.12 % to 4.75 % between 2014-15 and 2019-20. Similarly, expenditure on health increased from 1.25 % to 1.66 % during the same period.
The total revenue receipts are estimated at ₹ 33,747 crore as against ₹ 31,189 crore in 2018-19(RE) showing an increase of 8.20 %.
The state’s own taxes increased to 15.69 % in 2019-20 (BE) which is estimated at ₹ 7,921 crore.
The state’s non-tax revenue (comprising interest receipts, power receipts, road transport receipts and other administrative services) are estimated at ₹ 2,443 crore in 2019-20, which is 7.24% of total revenue receipts of 2019-20.
The tax revenue (including central taxes) is estimated at ₹15,319 crore as against ₹12,277 crore in 2018-19 which are 24.78 % more than the revised estimates of 2018-19, which stands at 9.26 % of GSDP.
Revenue receipts of the government are estimated to be 20.39% of the GSDP for 2019-20. Similarly, the tax revenue for the year 2019-20 is estimated at 9.26 % of GSDP. Non-tax revenue is 1.48 % of the GSDP in 2019-20. Revenue expenditure is likely to increase in 2019-20 whereas the capital expenditure is likely to decrease.
Fiscal deficit is estimated at 4.44 % of the GSDP in 2019-20 as compared to 5.06 % in 2018-19. Revenue and primary deficit as percent to GSDP is expected to decrease in 2019-20.
The growth in revenue receipts is likely to increase to 8.20 % in 2019-20. Tax revenue (including central taxes) of the government is expected to grow by 24.78 % in 2019-20. Growth of Non-tax revenue decreased to 5.13 % in 2019-20 which was 29.63 % in 2013-14.
