NEW DELHI: The capital achieved an impressive growth rate of 11.3% in 2011-12, which was much above the national figure of 6.5% despite a slowdown in the country’s economy. Top officials in the finance department said the government was confident of maintaining around 11% growth rate in the current fiscal despite the downward forecast for the economy in general.
The gross state domestic product (GSDP) of Delhi at the current prices for 2011-12 has been estimated at Rs 3,13,934 crore against Rs 2,64,496 crore in 2010-11. “Delhi’s contribution to the GDP of the country was 3.8% in 2011-12 while having 1.4% share in its total population,” chief minister Sheila Dikshit said.
The Delhi government has projected that the economy of the city will grow at a rate of 11 to 11.5% during the 12th Five Year Plan period. The growth rate of Delhi in the Eleventh Plan period was 11.46% compared to 7.9% at the national level.
The city government has already taken a number of steps, including enhancing tax collection and keeping the fiscal deficit under check, to keep its financial position in a healthy state.