JOIN USDelhi is the most prosperous state in the country with the highest per capita income of Rs 2.4 lakh in 2014-15, said the Economic Survey of Delhi 2014-15 tabled in the Assembly on Wednesday.
The national per capita income stands at Rs 87,748, the survey said, indicating that the capital, with a robust tertiary sector, has a per capita income which is more than double of the national average.
The per capita income, at current prices, in the city has grown by 13.49 per cent in 2014-15, with the service sector contributing 87.48 per cent to the city-state’s income.
The survey also said that the Gross State Domestic Product (GSDP) of Delhi at current prices during 2014-15 is Rs 4,51,154 crore, a growth of 15.35 per cent over the previous fiscal.
The growth rate of Delhi is likely to be 8.2 per cent during 2014-15 as compared to the national level projection of 7.4 per cent at the national level, it said.
The survey also pointed to a rise in inflation. The annual average consumer price index in Delhi increased from 209 in 2013 to 223 in 2014, registering an increase of 14 points, the survey said.
Food items were the most hit by the price rise with the consumer price index for
food group increasing by 6.5 percent in 2014, said the survey.
Revenue and expenditure
The major source of revenue receipt of the Delhi government during 2014-15 was its tax revenue which was Rs 26,602.34 crore – 89.92 per cent of the total revenue receipts of Rs 29,584.49 crore.
Within the tax revenue, Value Added Tax (VAT) was the major contributor with Rs 18,289.33 crore that amounted to 68.75 per cent of the total tax revenue receipts.
The tax collections through stamps and registration fees contributed with 10.68 per cent of the tax revenue but the collections under the head, which primarily deals with property sale, purchase and registration, showed a decline of 4.34 per cent as compared to the last fiscal, the survey said.
Tax collection of Delhi government registered a growth of 2.64 per cent in 2014-15 as compared to the growth of 10.60 per cent in 2013-14, it said.
Revenue surplus
Delhi maintained a consistent Revenue Surplus which was Rs 6,079.53 crore in 2014-15 as compared to Rs 5,614.16 crore in 2013-14.
The 2014-15 revenue surplus was 1.35 per cent of the GSDP as compared to an all-states figure of 0.43 per cent of GDP in 2014-15.
As per the survey, the fiscal deficit of Delhi government was Rs 2,21.25 crore in 2014-15, which is 0.049 per cent of GSDP, as compared to estimated fiscal deficit of 2.35 per cent of all states during the same year.
The expenditure incurred on social service sectors in Delhi increased from 48.79 per cent in 10th Five Year Plan to 57.12 per cent in the 11th Five Year Plan and 65.75 per cent for the first three years of the 12th Five Year Plan.
DH News Service