Raipur: The Economic Survey for the fiscal year 2024-25 was presented in the legislative assembly by the Minister for Finance, Planning, Economics, and Statistics Department, O.P. Choudhary, on Friday, marking the fourth day of the ongoing budget session. This comprehensive economic survey outlines a promising outlook for robust economic growth within the state for the upcoming year of 2024-25.
According to the advance estimates provided in the survey, the Gross State Domestic Product (GSDP) at constant prices is anticipated to grow by an impressive 7.51%. This growth signifies an increase from Rs 3,06,712 crore in the fiscal year 2023-24 to a projected Rs 3,29,752 crore in 2024-25. When considering current prices, the GSDP is expected to rise to Rs 5,67,880 crore in 2024-25, up from Rs 5,12,107 crore in the previous year, thereby reflecting a substantial growth rate of 10.89%.
The Finance Minister emphasized that there has been a noteworthy rise in the per capita income of the state, which is a crucial indicator of economic well-being. For the fiscal year 2023-24, the per capita income was estimated at Rs 1,48,022. The advance estimates for the year 2024-25 predict this figure will increase to Rs 1,62,870, indicating a positive trend in the economic landscape of the state.
The state government has projected an increase of 9.37 percent in per capita income compared to the previous financial year. To put this into perspective, the estimated annual income of Rs 1,62,870 translates to approximately Rs 446 per day.
In contrast, this figure was Rs 408 per day during the year 2023-24. This increase highlights that the income of the average citizen in the state has risen by Rs 38, which is a significant improvement in the standard of living for many residents.
In terms of Sectoral Performance, the survey indicates that agriculture is expected to grow by 5.38% at constant prices and 9.27% at current prices. The industrial sector is projected to see growth of 6.92% at constant prices and 9.22% at current prices. Meanwhile, the services sector is anticipated to experience a robust growth rate of 8.54% at constant prices and an even more impressive 13.43% at current prices.
The per capita income is estimated to reach Rs 1,62,870 in the financial year 2024-25, which reflects a significant growth of 9.37% over the previous year, as indicated by the advance estimates. Furthermore, for the fiscal year 2024-25, at current prices, the GSDP is recorded to have achieved a growth of 7.31% compared to 2023-24.
The estimated growth rates for various sectors are as follows: agriculture at 3.03%, industry at 4.87%, and the service sector at a remarkable 10.43% respectively. The Economic Survey provides invaluable insights into the state’s economic trajectory, highlighting growth across key sectors and offering a comprehensive overview of the anticipated economic landscape moving forward.
