Despite financial constraints,HP records increase in GSDP
Shimla, March 21 -- Himachal Pradesh recorded an 8.3% real increase in Gross State Domestic Product (GSDP) and a 10.1% rise in nominal growth in 2025-26 despite various challenges like acute financial constraints, cut in Revenue Deficit Grants (RDG), and heavy losses due to natural calamities, according to the Economic Survey for 2025-26, tabled by chief minister Sukhvinder Singh Sukhu in the assembly on Friday.
The survey provides a comprehensive assessment of the state's economy, underscoring resilience despite global uncertainties and climate-related challenges.
Tourism has rebounded sharply post-pandemic, contributing 7.77% to Gross State Value Added.
As per advance estimates, the state's GSDP at current prices is pegged at Rs.22.54 lakh crore, reflecting a growth of 10.1% over the previous year. In real terms (constant 2011-12 prices), the economy is expected to grow at 8.3%, an improvement from 6.4% in FY2024-25.
The services sector continues to dominate the economy, contributing 46.3% to GSVA, followed by the secondary sector at 39.4% and the primary sector at 14.3%.
Growth across sectors remains balanced, with services projected to grow at 8.6%, the primary sector at 8.4%, and the secondary sector at 7.7%. The services sector remains the primary growth engine, with GSVA estimated at Rs.2,62,581 crore and a growth rate of 8.6%.
GSVA from agriculture and allied activities is estimated at Rs.18,824 crore in FY2025-26 at constant prices, up from Rs.17,362 crore in FY2024-25, marking a growth of 8.4%.
The industrial sector, including mining and quarrying, is estimated to grow at 7.7% in FY2025-26, with GSVA at Rs.2,66,324 crore (constant prices). At current prices, industry contributes nearly 40% to GSVA, led by manufacturing (25.32%), construction (8.42%), and utilities (6.22%)....
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