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Home / Delhi News / Delhi’s contribution to national GDP increases, economy expected to grow at 7.42% in 2019-20: Budget

Delhi’s contribution to national GDP increases, economy expected to grow at 7.42% in 2019-20: Budget

delhi Updated: Mar 23, 2020 23:23 IST
Abhishek Dey and Sweta Goswami
Abhishek Dey and Sweta Goswami
Hindustantimes

The contribution of Delhi to the national Gross Domestic Product (GDP) has increased from 3.97% in 2014-15 to 4.20% in 2019-20, “though we are only 1.4% of the total population”, Delhi’s finance minister Manish Sisodia said in his budget speech on Monday.

The Aam Aadmi Party (AAP) assumed power in Delhi in 2015—with a thumping majority of 67 out of 70 seats— after a year of President’s rule. This February, they returned to power, winning 62 seats.

At constant prices, Delhi’s economy is expected to grow at the rate of 7.42% in 2019-20, “much higher the all India growth rate of 5%”, said Sisodia. For the same period, he pegged Delhi’s projected per capita income at around ₹3.89 lakh.

“Delhi’s Gross State Domestic Product (GSDP) is expected to grow at a rate of more than 10.48% during the year 2019-20, which will increase to ₹ 8,56,112 crore from ₹7,74,870 crore the previous year,” the budget document stated.

Sisodia further said that the per capita expenditure of the Government of NCT of Delhi, through budgetary transactions, has increased from ₹19,004 in 2015-16 to ₹ 31,841 in 2020-21.

“The per capita income of Delhi at current prices during 2019-20 is estimated at ₹3.89 lakh against the national per capita income of ₹1.34 lakh. Thus, Delhi’s per capita income is almost three times the national average. It is second-highest among all the states and union territories,” Sisodia said.

The Delhi economic survey for 2019-20 stated that the Capital has maintained its consistent revenue surplus which was ₹6,261 crore during 2018-19 as compared to ₹4,913 crore during 2017-18. However, it stated that the Delhi government’s fiscal deficit stood at ₹1,489.38 crore during 2018-19 (Provincial) as compared to ₹1,569.16 crore in 2017-18 which is 0.19% of the GSDP as compared to 0.23% during 2017-18.

The survey also mentioned that Delhi’s green cover has increased from around 20.22% in 2015 to 21.88% in 2019. South Delhi district has the highest forest cover area of 84.63 sq. km and the lowest forest cover is in East Delhi of 3.75 sq. Km.

In the renewable energy sector, all the grid-connected solar power projects have contributed to nearly 162 MW of power in Delhi till January 2020. The total installed capacity of renewable energy in Delhi is 214 MW (Solar 162 MW + Waste to Energy 52 MW) as on January 31, 2020.

The total purchase power in Delhi has grown by 37.97% during the last 10 years. Similarly, the total number of electricity consumers has increased by 74.81% during the last 10 years.

The total number of motor vehicles on roads in Delhi as on March 31, 2019, was 113.92 lakh, showing 3.69% growth from the previous year. The daily ridership of Delhi Metro was 25.97 lakh during 2018-19.

In the water sector, the survey stated that the government’s water scheme and tariffs based on the principle of ‘use more pay more’ helped the Delhi Jal Board collect ₹1,819.60 crore during 2018-19. About 83.42% households of Delhi now have access to a piped water supply.

In the health sector, the per capita expenditure on health in Delhi has increased from ₹1,996 in the year 2014-15 to ₹3,044 in 2018-19. “Important vital indicators like infant mortality rate, neonatal mortality rate, the under-five mortality rate in respect of Delhi stand at lower levels i.e. 16, 14, and 21 in comparison to all India levels viz 33, 23, 37 respectively. The total fertility rate (TFR) of Delhi is 1.5 which is lowest among all states in India,” the report stated.

The proposed budget of ₹65,000 crore includes ₹48,070.47 crore for revenue expenditure and ₹16,929.53 crore for capital expenditure, the document said

For the sixth year in a row, the government allocated the lion’s share, ₹15,815 crore, which accounts for around 24.33% of the total budget, for the education sector. Last financial year, Sisodia had allocated 26% of the outlay for education. In terms of outlay, education was followed by sectors such as health, transport, water and sewer, housing and urban development, power and social security, showed the budget document tabled in the Delhi Assembly.