Delhi's economy grows 9.3%

Delhi's economy grew 9.3 per cent during 2003-04 with the tertiary sector being the growth driver for the region. The per capita income registered a growth of 8.9 per cent to Rs 51,664 during 2003-04, from Rs 47,441 during the previous financial year.

According to the gross state domestic product (GSDP) estimates released by the state government today, GSDP at current prices in Delhi increased by 12.1 per cent to Rs 83, 825 crore during 2003-04, compared to Rs 74,807 crore in 2002-03.

Among the sectors, the highest growth, 25 per cent, was achieved in the communication sector, followed by 17 per cent in the transport sector, 13 per cent in trade, hotels and restaurants, and 12 per cent each in manufacturing, construction, and the business services sector.

The contribution of the primary, secondary and tertiary sectors stood at 0.99 per cent, 21.17 per cent and 77.84 per cent, respectively, showing a slight variation in percentage from the sectoral composition during the previous fiscals.

"The reasons may be attributed to the rapid urbanisation and consequential reduction in agricultural and allied activities. A regular monitoring of environmental degradation by different government agencies also contributed to the reduction in output of the secondary sector," the report said, justifying the variations.

In the tertiary sector, banking and insurance, real estate and the the business services sector were the largest contributors to GSDP, accounting for 29 per cent of the state's economy.

Trade, hotels and restaurants accounted for 21 per cent of the state's GSDP in 2003-04, followed by 15 per cent by transport, storage and communication.

In the secondary sector, the construction sector contributed 8 per cent of GSDP, followed by 7 per cent by the unregistered manufacturing sector and 5 per cent by the registered manufacturing sector.

Delhi, which has a 1.4 per cent share in the country's total population, accounts for 3.1 per cent in the national income.

The state has the highest per capita income among all states except Goa and has a per capita income 2.5 times higher than the per capita income at the national level.