Friday, Mar 14 2025 | Time 06:17 Hrs(IST)
States » NorthPosted at: Mar 13 2025 3:01PM


HP records 10.2 pc growth in GSDP for 2024-25, Economic survey reveals

Shimla, Mar 13 (UNI) Himachal Pradesh has reported an impressive 10.2 p c growth in its Gross State Domestic Product (GSDP) for the financial year 2024-25, as per the Economic Survey presented by Chief Minister Sukhvinder Singh Sukhu in the Vidhan Sabha on Thursday.
This marks a slight increase from the 9.9 p c growth recorded in FY 2023-24.
Sukhu, who also holds the finance portfolio, highlighted that despite facing challenges across various sectors, the state’s economy continues to thrive due to the government's new policy initiatives and the effective implementation of developmental programs.
The survey estimates the GSDP at current prices for FY 2024-25 at Rs. 2,32,185 crore, up from Rs. 2,10,662 crore in FY 2023-24. The real GSDP, adjusted for inflation (constant 2011-12 prices), is expected to reach Rs. 1,46,553 crore, reflecting a growth of 6.7% compared to 6.6 p c in the previous year.
In terms of Per Capita Income (PCI), the state has seen a growth of 9.6 p c with the PCI for FY 2024-25 estimated at Rs 2,57,212, up from Rs 2,34,782 in FY 2023-24. The state’s PCI has witnessed a steady rise from Rs 87,721 in FY 2011-12, marking a Compound Annual Growth Rate (CAGR) of 8.6 per cent.
The state’s economic growth continues to be driven by the tertiary, secondary, and primary sectors. The tertiary sector is the largest contributor to the state’s GSDP, accounting for 45.3 p c of the Gross State Value Added (GSVA) at current prices. The secondary sector follows closely with a 39.5 p c share, while the primary sector contributes 15.2 pc.
The secondary sector, including manufacturing, construction, and utilities, is estimated to grow by 8.1 pc at constant prices. The manufacturing sector is expected to grow at 7.1 p c, contributing significantly to the state's economic expansion. Construction, a vital sub-sector, is anticipated to grow by 9.4 p c, one of the highest growth rates within the industry sector.
The primary sector, particularly agriculture and allied industries, has shown notable growth over the years. The sector’s contribution to GSVA has increased by 53 pc , from Rs 20,838 crore in FY 2020-21 to Rs 31,879 crore in FY 2024-25. The crops sector alone has seen a remarkable 78 pc growth, from Rs 12,341 crore in FY 2020-21 to Rs. 21,912 crore in FY 2024-25.
The livestock sector, contributing 1.36 pc of the total GSVA and 9.24 pc of the agriculture GSVA, is expected to grow by 5.2% in FY 2024-25.
Tourism continues to be a vital sector for Himachal Pradesh, contributing 7.78 pc to the state's GSDP. After the pandemic, domestic tourist arrivals have surged significantly, reaching 181.24 lakh in 2024, compared to 32.13 lakh in 2020. This growth reflects the recovery of the tourism industry to pre-pandemic levels.
The state’s hydroelectric power potential is another crucial economic driver. Himachal Pradesh possesses about 25 pc of India’s total hydroelectric potential, with 11,290 MW already harnessed, contributing to the region’s energy supply and economic stability.
Inflation in the state has remained relatively stable, with the Consumer Price Index (CPI) falling from 5 pc in FY 2023-24 to 4.2 p c in FY 2024-25. Rural CPI decreased from 5.1 p c to 4.4 p c , and urban CPI dropped from 4.7 p c to 3.3 pc.
In terms of public services, Himachal Pradesh has a well-established healthcare infrastructure with 115 Civil Hospitals, 106 Community Health Centres, and 585 Primary Health Centres.
Additionally, the state’s transportation needs are catered to by the Himachal Road Transport Corporation, which operates a fleet of 3,079 buses, including 110 electric buses, and 38 taxis.
The state government’s emphasis on infrastructure, healthcare, and tourism is set to further propel Himachal Pradesh's economic development in the coming years, as reflected in this year’s Economic Survey.
UNI ML ARN
Tags: #HP records 10.2 pc growth in GSDP for 2024-25# Economic survey reveals
More News

Congress lacks policy, intent and leadership: Haryana CM Saini

14 Mar 2025 | 2:40 AM

Chandigarh, Mar 13 (UNI) Haryana Chief Minister, Nayab Singh Saini on Thursday took a dig at the opposition, remarking that Congress has collapsed due to its flawed policies, and the people have completely lost faith in that party.

see more..

AAP Govt has cero-tolerance policy towards criminals: Neel Garg

14 Mar 2025 | 2:32 AM

Chandigarh, Mar 13 (UNI) Aam Aadmi Party (AAP) leader and Senior Spokesperson Neel Garg on Thursday lauded the exemplary efforts of Punjab Police in swiftly resolving a sensitive kidnapping case, ensuring the safe recovery of a child, and delivering justice.

see more..

Himachal: CM Sukhu flays erstwhile BJP govt for "reckless spending"

14 Mar 2025 | 12:54 AM

Shimla, March 13 (UNI) Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu on Thursday alleged that the erstwhile BJP government in the state had indulged in "reckless spending" and opened institutions entrailing expenditure of Rs 5,000 crore without keeping adequate budget provisions.

see more..

Congress in Punjab is run from Delhi: AAP

14 Mar 2025 | 12:32 AM

Chandigarh, Mar 13 (UNI) The Aam Aadmi Party (AAP) on Thursday criticised Punjab Congress leaders for holding crucial meetings in Delhi under the supervision of Bhupesh Baghel, Chhattisgarh's former Chief Minister and said the grand old party is being run from the National Capital.

see more..

LoP meets Shah, discusses security, development, budget issues

14 Mar 2025 | 12:02 AM

Jammu, Mar 13 (UNI) Leader of Opposition in Jammu and Kashmir, Sunil Sharma on Thursday called upon Union Home Minister Amit Shah at New Delhi.

see more..