‘Delhi’s economy going forward on path of sustainable growth’

The per capita income of Delhi has been fast increasing year by year. It is expected to be Rs 3,03,073 for 2016-17 against Rs 2,73,618 during 2015-16

NEW DELHI: Deputy Chief Minister Manish Sisodia on Monday said that the economy of Delhi is going forward on the path of sustainable growth in a considerable manner.

The Deputy Chief Minister was speaking after the release of the ‘Estimates of State Domestic Product – 2016-17', a report brought out by the Delhi government's Directorate of Economics and Statistics.

Sisodia also said that the rank-wise position of Delhi, as per the estimates of GSDP (Gross State Domestic Product), is much better than some of the states such as Madhya Pradesh, Bihar, Punjab, Haryana and Odisha. The estimates have been prepared with the new base year 2011-12.

The Deputy Chief Minister further said that the GSDP, at the current prices for the year 2016-17 is estimated at Rs 6,22,385 crore, against that of Rs 5,51,963 crore in 2015-16, registering a growth of 12.76 percent.

Manish Sisodia The real growth in GSDP at constant prices in Delhi during 2016-17 is 8.26 percent, as compared to 7.1 percent at the National Level.

The report also showed that the contribution of Delhi in total GDP (Gross Domestic Product), at current prices, was 4.08 percent, even though the Union Territory's population share is just about 1.4 percent of India's total population

The report also showed that the per capita income of Delhi is nearly three times higher than the national average of Rs 1,03,818 for the year 2016-17. “The per capita income of Delhi has been fast increasing year by year. It is expected to be Rs 3,03,073 for 2016-17 against Rs 2,73,618 during 2015-16,” Sisodia said.

“This reveals annual growth of 10.76 percent over the previous year as against 10.2 percent at the national level,” added Sisodia. Among all states/uts, “Delhi's rank is 1st, while Goa at second with Rs 2,70,150 and Chandigarh stood at third position with Rs 2,42,386 per capita Income during 2015-16,” the report states.

Sisodia said that the share of service sector in Delhi's economy is about 82.26 percent, followed by secondary sector at 14.84 percent and primary sector at 2.90 percent.

The share of manufacturing sector is about 8.41 percent, construction sector 4.02 percent, trade hotels and restaurants 11.69 percent, financial services 14.83 percent, and real estate, ownership of dwellings and professional services have maximum share at 29.81 percent.