Economic Growth and Improved Livelihoods: Highlights from Himachal Pradesh’s Economic

Economic Growth and Improved Livelihoods: Highlights from Himachal Pradesh’s Economic

In a recent session of the Himachal Pradesh Legislative Assembly on Friday, it was revealed that poverty has decreased in the state, accompanied by a significant increase in per capita income. The Sukhdu Government presented the report of the economic survey for the financial year 2023-24 during the session. According to the report, it is estimated that the state’s GDP will exceed 9428 crore in the current financial year, with a projected growth of 7.1% in the fiscal year 2024-25.

The economic survey indicates that the actual Gross Domestic Product (GDP) of the state is estimated to reach 1,42,800 crores, with the nominal GDP estimated at 2,07,430 crores. The Chief Minister informed the assembly that there has been an increase in per capita income in Himachal Pradesh, which now stands at Rs. 2,35,199 compared to Rs. 2,18,788 in 2022-23. He stated that Himachal’s per capita income is Rs. 49,345 higher than the national average. Additionally, the report mentioned a growth rate of 6.9% in 2022-23.

Chief Minister Sukhvinder Singh Sukhdu presented the Himachal Pradesh Economic Survey to the Legislative Assembly, stating that GDP is estimated to grow by 8.2% in the financial year 2023-24 compared to 114% in the previous financial year. Furthermore, the state recorded a labor participation rate of 61.3% across all age groups, surpassing Uttarakhand (42.5%), Punjab (42.3%), Haryana (36.3%), and the national average (42.4%).

The report highlights that 54.8% of women in Himachal are more actively involved in economic activities compared to neighboring states and the national average. Moreover, Himachal Pradesh has the lowest unemployment rate at 4.4%, compared to 4.5% in Uttarakhand, and 6.1% in Punjab and Haryana.

This showcases significant progress in economic indicators in Himachal Pradesh, indicating positive growth and development trends.

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