Himachal growth improves to 6 7pc in 2024 25 per capita income rises by 9 6 pc survey

Himachal growth improves to 6 7pc in 2024 25 per capita income rises by 9 6 pc survey

Himachal Pradesh's growth rate improved to 6.7 per cent in 2024-25 as per the advance estimates while the per capita income increased by 9.6 per cent in the current fiscal, according to the Economic Survey presented by Chief Minister Sukhvinder Singh Sukhu in the Vidhan Sabha on Thursday. The Gross State Domestic Product at constant prices (2011-12) for 2024-25 was estimated at Rs 1,46,553 crore against Rs 1,37,320 crore in 2023-24, reflecting a growth rate of 6.7 per cent.

The per capita income of the state also increased by 9.6 per cent from Rs 2,34,782 in 2023-24 to Rs 2,57,212 in 2024-25 while the compound Annual Growth of per capita income from 2011-12 to 2024-25 was 8.6 per cent.

The contribution of the tertiary sector to Gross Value Addition (GVA) was 45.3 per cent, followed by the secondary sector 39.5 per cent and the primary sector 15.2 per cent.

The Gross State Value Added (GSVA) from the primary sector at constant prices is expected to be Rs 16,625 crore in 2024-25 against Rs 16,116 crore in 2023-24, registering a growth rate of 3.2 per cent.

The GSVA of the secondary sector is estimated at Rs 65,134 crore in 2024-25 against Rs 60,238 crore in 2023-24, registering a growth rate of 8.1 per cent.

The Agriculture and Allied Sectors reflected a sustained growth of the primary sector over the years and its contribution to GSVA at current prices increased by 53 per cent from Rs 20,838 crore in 2020-21 to Rs 31,879 crore in 2024-25.

There has been a marked improvement in GSVA of crops at current prices from Rs 12,341 crore in 2020-21 to Rs 21,912 crore in 2024-25, an increase of 78 per cent.

As per advance estimates, agriculture and allied sector GSVA is estimated to increase by 3.07 per cent at constant prices in 2024-25 against a negative growth rate of 2.63 per cent in 2023-24. The industrial sector is expected to grow at a rate of 8.1 per cent in 2024-25, compared to 6.5 per cent at the national level.

The growth of industrial sector is expected to be of 8.1 per cent in 2024-25, compared to 6.5 per cent at the national level and total GVA of industry sector, including Mining and Quarrying for 2024-25 has been estimated at Rs 86,695 crore at current prices (40 percent) of which the contribution of manufacturing sector was 26.19 percent, construction 7.68 percent and electricity and water supply 5.66 per cent.

The tourism industry has also reflected positive trends and the tourist arrival has almost reached the pre-pandemic level with 181.24 lakh visiting the state during 2024 compared to150.99 lakh in 2022 and 165.05 lakh in 2023.

The Consumer Price Index (CPI) based inflation remained relatively stable and dropped from 5 percent in 2023-24 to 4.2 percent in 2024-25 in rural areas and from4.7 percent to 3.3 percent urban areas.