Himachal's GSDP estimated at Rs 1,91,728cr - a hike of 11%: Economic Survey

Himachal Pradesh's Gross State Domestic Product (GSDP) at current prices is estimated at Rs 191,728 crore in 2022-23 against Rs 172,162 crore in the second revised estimate in 2021-22, showing an increase of 11.4 per cent during the year, Chief Minister Sukhvinder Singh Sukhu said on Friday.

The GSDP at constant (2011-12) prices in 2022-23 is estimated at Rs 133,372 crore against Rs 124,770 crore in 2021-22, registering a growth of 6.9 per cent during the year.

The growth of 6.9 per cent in 2022-23 is mainly attributed to a 5.7 per cent growth in the primary sector, 5.1 per cent growth in the secondary sector, and 10.4 per cent growth in the tertiary sector of the economy, Sukhu told the assembly, citing the state's economic survey 2023-24.

Food grain production, which was 15.79 lakh metric tonne (MT) during 2021-22 decreased to 15.23 lakh MT in 2022-23 and is anticipated to be 16.52 lakh MT in 2023-24.

The vegetable production increased to 18.67 lakh MT in 2022-23 against 18.04 lakh MT in 2021-22.

As per current estimates based on economic conditions up to December 2023, the economy of the state for 2023-24 is expected to grow by 7.1 per cent against 6.9 per cent during 2022-23.

The economy of the state has shown a shift from agriculture sector to industries and services as the percentage contribution of agriculture in total Gross State Domestic Product has declined from 57.9 per cent in 1950-51 to 55.5 per cent in 1967-68, 26.5 per cent in 1990-91 and 9.45 per cent in 2022-23.

It says the state was hit with severe natural calamity in the monsoon of 2023.

Responding with unwavering resolve, the government allocated a special relief package of Rs 4,500 crore, increasing compensation by 25 times.

Reconstruction aid for completely damaged houses was increased from Rs 1.30 lakh to Rs 7 lakh.

The government is steering Himachal towards becoming a Green Energy State by March 31, 2026.

The progressive e-vehicle policy earmarks 54 locations for charging stations in the initial phase.

The government has signed MoUs for green hydrogen and ammonia projects, attracting an investment exceeding Rs 4,000 crore, creating over 3,500 employment opportunities.

The foundation stone for a Rs 220 crore solar power plant in Pekhubela was laid, which will yield annual income of about Rs 27 crore for the state, it adds.