Ahead of the Budget session set to commence on February 18, the Department of Planning has released Uttarakhand's Economic Survey, which projects a notable increase in the state's per capita income for the financial year 2024-25.
The report estimates the per capita income to reach Rs 2.74 lakh, reflecting an 11.33% rise compared to the previous financial year.
According to Principal Secretary R Meenakshi Sundaram, this projected per capita income surpasses the national average. The National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation has estimated India's per capita income for FY 2024-25 at Rs 2,00,162, making Uttarakhand's figure significantly higher.
Growth in Gross State Domestic Product (GSDP)
The survey also projects substantial growth in the Gross State Domestic Product (GSDP) at current prices. Uttarakhand’s GSDP is expected to reach Rs 3.78 lakh crore in FY 2024-25, up from an estimated Rs 3.32 lakh crore in 2023-24. This represents an annual growth rate of 13.59%, highlighting the state's strong economic performance.
In real terms, the state's economy, measured as Real Gross State Domestic Product (GSDP) at constant prices (base year 2011-12), is anticipated to rise from Rs 2.04 lakh crore in 2023-24 to Rs 2.17 lakh crore in 2024-25. This reflects consistent economic progress despite broader macroeconomic challenges.
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Smart meter installation initiative
Apart from economic indicators, the survey also highlights key infrastructural advancements in the power sector. Sundaram announced the implementation of a smart meter installation scheme, which aims to address consumer complaints related to meter readings and billing discrepancies. The replacement of existing meters with smart meters will be carried out at no cost to consumers.
As per directives from the central government, only postpaid smart meters are currently being installed. However, consumers opting for prepaid meters will benefit from discounts on electricity tariffs—4% for domestic connections and 3% for other categories.
The initiative is part of a broader plan to modernise electricity distribution in the state, with the target of installing smart meters for 15.88 lakh consumers by June 2026.
With these projections and initiatives, Uttarakhand is positioning itself for robust economic growth while enhancing infrastructure and consumer services. The forthcoming Budget session is expected to further outline policies supporting these developments.
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