Himachal Pradesh’s per capita income increased by 9.6% compared to previous financial year: CM Sukhvinder Singh Sukhu
Economic Survey 2024-25 tabled by CM Sukhvinder Singh Sukhu suggests inflation is stable in Himachal Pradesh.
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Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu arrives for the state Assembly's Budget session, in Shimla (PTI Photo)Himachal Chief Minister Sukhvinder Singh Sukhu Thursday tabled the Economic Survey 2024-25 in Legislative Assembly, stating that the per capita income (PCI) of Himachal Pradesh has grown by 9.6 per cent in the current financial year compared to the previous FY 2023-24.
The survey report reveals that the PCI for FY 2023-24 was Rs 2,34,782, while for the current FY 2024-25, it is estimated at Rs 2,57,212. The report further says, “There has been a rise in the state’s PCI from Rs 87,721 in FY 2011-12 to Rs 2,57,212 in FY 2024-25, registering a Compound Annual Growth Rate (CAGR) of 8.6 per cent over FY 2011-12.”
The survey, compiled by the Economics and Statistics Department of Himachal Pradesh, claims that the inflation in the state has remained relatively stable. It states, “The current trends in inflation show a decrease from 5.0 per cent in FY 2023-24 to 4.2 per cent in FY 2024-25. Inflation in the rural sector dropped from 5.1 per cent to 4.4 per cent, while the urban inflation rate fell from 4.7 per cent to 3.3 per cent during the same period.”
According to the Advance Estimates (AE), the Gross State Domestic Product (GSDP) at current prices for FY 2024-25 is estimated at Rs 2,32,185 crore, compared to Rs 2,10,662 crore in FY 2023-24 — reflecting a growth rate of 9.9 per cent. The report adds that based on the AE of Gross State Value Added (GSVA) for FY 2024-25, tertiary sector accounted for 45.3 per cent of the state’s GSVA at current prices, followed by the secondary sector at 39.5 per cent, and the primary sector at 15.2 per cent.
In terms of tourism, domestic tourist arrivals have surged post-Covid— from 32.13 lakh in 2020 to 56.37 lakh in 2021, further rising to 150.99 lakh in 2022, 160.05 lakh in 2023, and reaching 181.24 lakh in 2024. The report claims that this trend indicates a return to pre-pandemic tourist levels.
The report also states that the industry sector’s contribution (including mining and quarrying) to the GSVA at current prices stands at 40 per cent for FY 2024-25. Of this, 26.19 per cent comes from the manufacturing sector, 7.68 per cent from construction, and 5.66 per cent from electricity, water supply, and other utility services.
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