Jammu and Kashmir The economy is estimated to increase at a rate of 7.06 percent in the current financial year (2024–25), while the GDP at the market price is expected to grow at an 11.19 percent rate in 2024-25. This is said in the Economic Review Report (ESR) for 2025. The report said that Jammu and Kashmir has shown significant progress, due to which the unemployment rate has come down from 6.7 percent to 6.1 percent in 2023-24 in 2019-20. Chief Minister Omar Abdullah on Thursday presented the Economic Review Report in the Jammu and Kashmir Legislative Assembly. Omar Abdullah also has the Ministry of Finance.
Good growth in gsdp
The report has an intensive analysis of the region’s economic performance, development progress and future approaches, providing valuable insight to policy makers and stakeholders. The report said, “Jammu and Kashmir’s actual GSDP is expected to grow at a rate of 7.06 percent. At the same time, GSDP is expected to increase at the rate of 11.19 percent in market price in 2024-25. ” According to the report, “Jammu and Kashmir’s economy (GDP at market price) is estimated to be around Rs 2.65 lakh crore and its actual GSDP is estimated to be around Rs 1.45 lakh crore during 2024-25.”
Increased per capita income
The report stated that Jammu and Kashmir is estimated to achieve an annual growth rate of 4.89 percent in its actual GSDP from 2019-20 to 2024-25, while a growth rate of 4.81 percent from 2011-12 to 2019-20 was recorded. The report said that the per capita annual income of Jammu and Kashmir at current prices is estimated to reach Rs 1,54,703 (advance estimate) in 2024-25. While the national per capita income in 2024-25 is Rs 2,00,162. According to the report, the per capita income of Jammu and Kashmir at current prices is estimated to increase at a rate of 10.6 percent in 2024-25. The report further stated that Jammu and Kashmir is actively contributing to the National GDP (0.8 percent) in proportion to its population (0.98 percent).
(PTI/Language)
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