Delhi’s per capita income likely to be Rs 5.31 lakh in current fiscal, shows economic survey – more than double the national average

As per the survey, the budgeted revenue surplus for 2025-26 (BE) is Rs 9,661.31 crore, which is 0.73 per cent of the Gross State Domestic Product (GSDP).

The GSDP of Delhi at current prices during 2025-26 is likely to attain a level of Rs 13,27,055 crore as per the advance estimate, registering a growth of 9.42 per cent over FY25.

“Tax collection of the Delhi government for the year 2025-26 is budgeted with a growth of 15.54 per cent over the previous year,” the report stated.

The Budget of 2025-26 was Rs 1,00,000 crore, the highest ever, of which Rs 59,300 crore is allocated for Delhi government schemes, programme and projects. The amount was higher by Rs 20,300 crore in comparison to Rs 39,000 crore in 2024-25 (BE).

“With the economy’s returning to normalcy brought closer by the successful mega vaccination drive in Delhi, hopes of a robust recovery in the services sector, consumption and investment have been rekindled. Overall economic activity in Delhi has recovered,” the survey says.

In the years 2021-22, 2022-23, 2023-24, and 2024-25, a recovery of real GSDP of Delhi with growth of 7.20%, 7.40%, 9.63% & 6.23% respectively is based on a low base effect and inherent strengths of the economy, it says.

The report also shows that the expenditure budget of Delhi Government is mainly financed from its own tax revenue (68.7% of expenditure budget in 2025-26 (BE), which includes revenue collection from GST, VAT, Excise, Stamp Duty and Motor Vehicle Tax.

In addition, there is non-tax revenue and transfers from the central government in the form of loans and grants under various items.

It is important to highlight that 71.3% of the total tax revenue in 2025-26 (BE) will be from GST (including other taxes) and VAT, 10.2% from excise, 13.1% from stamp duty and 5.4% from MVT.

“Delhi has maintained its consistent revenue surplus; it recorded Rs 12,247.03 crore during 2024-25 (provisional) as compared to 6,462.30 crore in 2023-24. The budgeted revenue surplus for 2025-26 (BE) is Rs 9661.31crore which is 0.73% of GSDP,” the report states.

The report also shows that Delhi is budgeted to have a fiscal deficit of Rs 13,703 crore in the Budget Estimates 2025-26, which is mainly on account of the more than doubling (145%) of capital expenditure over 2024-25.

The capital expenditure which was only Rs 11,485 crore in 2024-25 has increased to Rs 28,115 crore in 2025-26 (BE).
“The capital expenditure is a developmental expenditure and it has been appropriately attuned to the needs of the capital city of India. The fiscal deficit is within the accepted limits of 3% of GSDP,” says the report.

The annual inflation rate of Delhi has also come down from 2.59% to Rs 1.13% in 2025, shows the report.

Of the total tax revenue, 71.3 per cent in 2025-26 budget is likely to come from the goods and services tax and value added tax, followed by 10.2 per cent from excise, 13.1 per cent from stamp duty and 5.4 per cent from Motor Vehicle Tax.

The report stated that Delhi’s economy has a predominant service sector that contributes around 86.32 per cent to the Gross State Value Added (at current prices) during 2025-26, followed by the secondary sector (12.88 per cent) and primary sector (0.80 per cent).

The Advance Estimate of GSDP of Delhi at current prices during 2025-26 is likely to attain a level of Rs 13,27,055 crore, a growth of 9.42 per cent over 2024-25. The Advance Estimate of GSDP of Delhi at constant prices during 2025-26 is recorded at Rs 7,76,479 crore, showing a growth of 8.53 per cent over 2024-25.