Delhi Economic Survey: Economy to grow at 11.22%, per capita income almost 3 times of national average

The survey also said that around 75 percent existing value added tax (VAT) dealers have migrated to Goods and Services Tax (GST) up to December 2017.

Delhi Economic Survey: Economy to grow at 11.22%, per capita income almost 3 times of national average

New Delhi: The Delhi government has pegged the size of the Gross State Domestic Product (GSDP) at Rs 6.86 lakh crore for 2017-18, which is at a growth rate of 11.22 percent over the last fiscal.

Ahead of the Delhi budget, the latest economic survey of the national capital was tabled in the Assembly on Monday, which has estimated that the city's per capita income was almost three times of the national average, both at current and constat prices.

"The advance estimate of the GSDP of Delhi at current prices during 2017-18 is likely to attain a level of Rs 6,86,017 crore, which is at a growth of 11.22 percent over 2016-17," according to the the Economic Survey of Delhi 2017-18.

The advance estimate of the Net State Domestic Product (NSDP) of Delhi at current prices is likely to attain a level of Rs 6,26,002 crore in 2017-18, which is estimated to grow at 11.51 percent over 2016-17, it said.

The survey also said that around 75 percent existing value added tax (VAT) dealers have migrated to Goods and Services Tax (GST) up to December 2017.

The Delhi Legislative Assembly had passed the State Goods and Services Act on May 31, 2017 and thus GST rolled out in Delhi with effect from July 1, 2017.

Also, the national capital has maintained its consistent Revenue Surplus which was Rs 5,044 crore in 2016-17 (provisional) as compared to Rs 8,656 crore in 2015-16.

 

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