Himachal grows at 7.1 percent as per FY 2023-24 Economic Survey
Himachal Pradesh’s economic growth rate for financial year 2023-24 is pegged at 7.1 percent as the State’s Gross Domestic Product at current prices is estimated at Rs 2,07,430 Crore and state per capita income at Rs 2,35,199/, Chief Minister Sukhvinder Singh Sukhu who also holds the portfolio of finance said in the economic survey for the year 2023-24 tabled in the state assembly here today.
He said that the growth in per capita income is estimated to increase by Rs 16,411 as it grew from Rs 218,788 in the year 2022-23 to Rs 2,35199 in 2023-24. The per capita income of India was estimated around Rs 1,85,854.
The state government claimed that state economic growth is likely to exceed by 0.2 pc compared to the previous financial year as growth in the state GDP was 6.9 pc in 2022-23. The Growth rate of the economy in the state ( 7.1 PC) is almost parallel with the growth rate of the country (7.3 PC) however compared to the previous ten years state growth rate remained the same as the state also recorded a growth rate of 7.1 pc in fy 2013/14.
The State recorded growth in the share of gross value added in GDP by 14.06 from the primary sectors 42.44 pc and 43.50 pc from the Secondary and Tertiary sectors. The survey said that fruit production remained in the year 2023-24 by 5.81 lakh metric tonnes which includes 4.84 lakh mt of apple alone as states have 2,36,466 hectares areas under fruit production including 1,15680 hectare area under apple crop.
Compared to the state growth rate of 8.14 lakh metric tonnes of the previous year.
The contribution of Agriculture and allied sectors to the Gross state value to GDP is Rs 16410 crore in 2023-24 which is almost stagnant. However, States are likely to increase the growth of 8.9 percent in manufacturing and the highest growth was anticipated in the construction sector at 12.9 percent.
States have 25 pc potential of hydropower ( 24000 MW) and 11209 MW harnessed under various hydroelectric projects however most of the projects are exploited by the center and the state has 7.6 pc power potential under its control.
The economic survey said that around 4.67 lakh people came out from the poverty line in 2022-23 which is in the last ten years multidimensional poverty in the state has come down from 10.14 pc to 3.88 pc .
The state has 1,85698 regular employees,5726 and 4593 part-time and daily paid respectively. The state recorded a footfall of 1.60 Crore tourists till December 2023 compared to 1.20 Cr of previous years. The state offers a rich treasure of places of pilgrimage and Archaeological values and currently, there are around 4610 hotels with having bed capacity of about 1.25 lakh beds and networks of 3870 homestay units having a capacity of 23846 beds.
The state has about 15312 educational institutions including 148 degree colleges, and 815 medical and health institutions having a bed capacity of 15898, The state roads span 41,975 kilometers including 262 km of four-lane, 2,027 motorable double-lane roads, and 38,414 single-lane roads.
HRTC has a fleet of 3348 vehicles including 3,059 buses, 110 electric buses, 38 taxis, and 50 electric taxis, which operate in 2,693 routes in 986 lakh km. The state has 37948 square km area under forest which is 68.16 and currently, 15443 sk (27.74 pc) is under forest cover.
