Economy estimated to grow at 11.22 pc

Tribune News Service

New Delhi, March 19

Delhi Government today extrapolated the Gross State Domestic Product (GSDP) for 2017-18 to be around Rs 6.86 lakh crore, which happens to be based on the growth rate of 11.22 per cent of the last fiscal.

The Economic Survey of Delhi (2017-18) has revealed that the outstanding debt of the Delhi Government has increased by over Rs 8,000 crore in the past 10 years with a debt of Rs 25,338.96 crore in 2007-08, which is16.04 per cent of its GSDP.

The outstanding debt moved up to Rs 33,344.90 crore in 2016-17 and the debt and the GSDP ratio declined substantially to 5.41 per cent, it said while noting that the situation is under control.

Among the highlights, include more number of schools along with student enrolment and rise in health infrastructure at local level (mohalla clinics) that have been due to increase in per capita expenditure by the government on education and health in 2016-17, as per the survey tabled in the Assembly today by Finance Minister Manish Sisodia.

The government’s expenditure on education to the GSDP was highest at 1.65 per cent in 2017-18 with the estimation being Rs 61,622 crore — up from Rs 5,491 crore in 2016-17.

According to the survey, the total number of schools increased from 5,155 in 2012-13 to 5,772 in 2016-17 whereas the number of students enrolled in the schools increased from 42.68 lakh in 2012-13 to 44.43 lakh in 2016-17. The student-teacher ratio also went up to 30, it added.

Coming to health sector, the per capita expenditure on health has increased to Rs 2,233 in 2016-17 from Rs 1,548 in 2011-12. The survey said the total number of hospital beds increased from 42,695 in 2012-13 to 53,329 in 2016-17 thereby bed population ratio increased from 2.47 per cent to 2.86 per cent in the same period.

Delhi’s per capita income was almost three times of the national average, both at current and constant prices.

“The advance estimate of the GSDP 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 per cent over 2016-17,” the Survey said.

The advance estimate of the Net State Domestic Product (NSDP) 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 per cent over 2016-17, it further said.

The survey also said that around 75 per cent existing VAT dealers have migrated to Goods and Services Tax up to December 2017 while the tax collection for 2017-18 is budgeted with a growth of 19.33 per cent over the previous year.

Delhi 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.