Home Business State’s per capita income 2nd highest in India: Delhi Economic Survey 2017-18

State’s per capita income 2nd highest in India: Delhi Economic Survey 2017-18

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(G.N.S) Dt. 20
New Delhi
Tabled this Monday by Deputy Chief Minister and Finance Minister Manish Sisodia in the Delhi Assembly, the Delhi Economic Survey of 2017-18 has revealed literally everything you need to know about things going on with the capital of India — including an increase in the gross state domestic product (GSDP) on the positive side, and the per capita income being 3 times the national average on the shocking side.
PM’s Employment Scheme, employment scheme, bank loans Delhi’s GDP is estimated to grow at Rs 6.86 lakh crore for 2017-18 by 11 percent over the last fiscal.
GSDP at constant prices was estimated to grow by 8.14 per cent in 2017-18 (5,56,800 crore) in comparison to the previous financial year. The estimated growth was lower compared to the growth from 2015-16 to 2016-17 (8.61 per cent)
Even though state’s GDP and per capita income are estimated to have grown handsomely in the last fiscal, debt is a big concern for the Delhi government. Delhi’s GDP is estimated to grow at Rs 6.86 lakh crore for 2017-18 by 11 percent over the last fiscal, the state government’s Economic Survey that was tabled in the Assembly on Monday said. The per capita income was pegged at almost three times of the national average, both at current and constant prices, an estimated increase by Rs 29,000 the survey said. The city’s per capita income stands at nearly Rs 3,29,093 which is second highest in the country. The per capita income was pegged at Rs 3,00,793 in previous year’s economic survey.
Tax collection was estimated to increase by 19.33 per cent in 2017-18 compared to the previous year. The survey indicated a major aberration in the govt’s tax collection, which saw a growth of only 3.03 per cent in against that of 13.61 per cent in 2015-16.
The debt has surged by more than Rs 8,000 crore in the previous ten years, the survey said. Other than this, the number of unemployed people at employment exchanges has surged to 12.97 lakh in 2016 against 5.56 lakh in 2006. A plunge was seen in the contribution made by agriculture and manufacturing sectors in gross state value added (GSVA). Over 80 percent income was provided by the with services sector in Delhi. The report was tabled by Delhi’s Deputy Chief Minister Sisodia on Monday in the Assembly.
More than 16 percent households in the city don’t have access to piped water supply, the survey said. The total investment made in the education sector has surged by over double in the budget, from Rs 5,491 crore in 2012-13 to Rs 11,300 crore in 2017-18.
The state government had a fiscal deficit of Rs 1,050.51 crore in 2016-17, as opposed to a fiscal surplus of Rs 1,321.92 crore in 2015-16.
The survey also said that around 75 per cent existing value-added tax (VAT) dealers have migrated to Goods and Services Tax (GST) up to December 2017.
According to the survey, over 16 per cent households in the national capital do not have access to piped water supply despite the Delhi government’s promise of ensuring the same by the end of 2017.
Growth in the number of cars and jeeps was at 5.56 per cent and 8.25 per cent respectively, even as the rise in the number of buses hit an 8-year low. In addition, a whopping 455 cars and jeeps, and 1,380 two-wheelers were added to New Delhi’s roads per day, reports the survey.
It is also interesting to find that after the completion Delhi Metro Phase III, the total span of the Metro network will reach 350 km and the ridership will go up from 28 lakh in 2016-17 to nearly 40 lakh, according to the survey’s estimates.
Delhi’s love for its cars and two-wheelers remains on an upbeat mode as a growth in the number of cars and jeeps was observed a rise of 5.56 percent and 8.25 percent, respectively. According to survey, the Delhi Transport Corporation’s fleet of buses hit an eight-year low in FY17. The total number of buses have witnessed a plunge in comparison to 2009-10 when it stood at 4,725 and declined to 4,027 previous year.

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