Delhi's economy estimated to contract by 3.92% in FY21: Survey

The economy of Delhi is estimated to contract by 3.92 per cent in the current financial year, according to Delhi Economic Survey 2020-21.

In real terms, the contraction in Delhi's gross state domestic product (GSDP) is expected at 5.68 per cent in 2020-21 compared to contraction of 8 per cent at national level, said the report.

The per capita income also went down from Rs 3.76 lakh in 2019-20 to Rs 3.54 lakh in the current fiscal year.

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Tabling the survey in the Budget Session of Delhi Assembly on Monday, Deputy Chief Minister Manish Sisodia said the pandemic halted government activities for some months, causing a decline in trade and revenue and financial constraints.

The per capita income of Delhi at current prices during 2020-21 is estimated at Rs 3,54,004 against per capita income of Rs 1,27,768 at the national level.

In 2019-20, with an outstanding debt of Rs 34,461.83 crore as on March 31, 2020, the Debt-GSDP ratio had declined substantially to 4.15 per cent as compared to 8.61 per cent in 2011-12.