The state of Delhi has emerged to be the richest state in the 2014-2015 financial year with a per capita income of Rs. 2.41 lakh.
That is almost three times the national average of Rs. 87,748. It is also 13.5 % higher than Delhi’s per capita income in 2013 – 2014 which was also a whopping Rs. 2.12 lakh.
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Per capita income is the average income made by each person of a country or a state or a designated region or community, depending on its measures. It is measured by dividing the Gross domestic Product by the total population of the region.
The hike in the per capita income was reported by the Economic Survey of Delhi, which was tabled in the Delhi Assembly recently. The survey also shed light on the GDP of the state which is Rs. 4.51 lakh crore. The GDP has also seen a tremendous growth with a 15. 35% hike from the financial year of 2013-2014.
The GDP is also impressive at constant prices with a growth rate of 8.2% this year as compared to the national growth rate which averages at 7.4%.
The fiscal deficits, that is, the debts of the state of Delhi, are also very low when compared to the average of other states, stationed at 0.049% of GDP in comparison to the average of 2.35% for other states.
The expenditure occurring in the social sectors has also shown an increase, from 48.79 per cent in the 10th Five Year Plan to 57.12 per cent in the 11th Five Year Plan and 65.75 per cent for the first three years of the 12th Five Year Plan, as per the Economic Survey.