Delhi’s GSDP estimated to go up by 12%

Deputy CM Manish Sisodia releases figures for Gross State Domestic Product

The Capital’s Gross State Domestic Product (GSDP) at current prices is estimated to grow by over 12% from ₹5.51 lakh crore in 2015-16 to ₹6.22 lakh crore in 2016-17, according to a report released by Delhi Deputy Chief Minister Manish Sisodia on Monday.

The estimates of the State domestic product of Delhi for 2016-17 showed that the Capital had bested several bigger States, including Madhya Pradesh, Punjab and Haryana. As per the report, while the GSDP at current prices was estimated to grow by 12.76%, the GSDP at constant prices was estimated to increase by 8.26% from 2015-16 to 2016-17.

Big contributor

In comparison, the national growth rate was 7.1%.

Delhi also contributed 4.08% to the national GDP at current prices, while the population of the Capital was 1.4% of the total population of the country.

Referring to the report, which was first tabled in the Delhi Assembly in March, Mr. Sisodia said that the share of the tertiary sector in Delhi’s Gross State Value Added in 2016-17 was estimated at 82.26%, followed by the secondary sector at 14.84% and primary sector at 2.90%.

The sector with the biggest contribution with a 29.81% share was real estate, ownership of dwellings and professional services.

Financial services, hotels and restaurants, manufacturing and construction accounted for 14.83%, 11.69%, 8.41% and 4.02%, respectively.

In addition, Delhi’s per capita income was estimated to be ₹3.03 lakh in 2016-17, up by 10.76% from ₹2.73 lakh in 2015-16, making it the highest in India. In comparison, the national per capita income in 2016-17 was ₹1.03 lakh.