Himachal Pradesh's Growth for 2024–25 Pegged at 10.2%

  • 2025-04-16 11:24:31

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Overview

Himachal Pradesh's economy is projected to grow at 10.2% in 2024–25, according to the State Economic Survey. This marks a rebound from 6.4% in 2023–24, driven by growth in construction, manufacturing, and tourism.

Key Highlights from the Economic Survey

  • GSDP Projections: GSDP is estimated to grow at 10.2%, current price GSDP projected at ₹2.28 lakh crore.
  • Per Capita Income: Expected to rise to ₹2.38 lakh from ₹2.23 lakh.
Sectoral Growth
  • Agriculture and Allied: Grew at 2.1% in 2023–24 despite floods.
  • Industry: Boost in pharmaceuticals, food processing, textiles.
  • Services: Grew at 7.9%, supported by tourism & hospitality.
Employment

8.4 lakh employment opportunities created in 2023–24, mostly via private sector and MSMEs.

Fiscal Health
  • Fiscal deficit in 2023–24: ₹11,208 crore
  • Outstanding debt: 38.2% of GSDP (above FRBM limit)

Additional Facts and Updates

  • Tourism Surge: 1.6 crore tourist arrivals in 2023–24, post-COVID recovery.
  • Natural Disaster Impact: 2023 monsoon losses exceeded ₹12,000 crore.
  • Hydropower: Contributes 25% to India’s hydropower; Green Energy by 2026.
  • Digital Governance: e-District portals and revenue systems scaled for improved delivery.

Strategic Focus Areas for 2025

  • Climate-Resilient Infrastructure
  • Boosting Agro-based Industries & Cold Chains
  • Expanding Rural Roads and Health Services
  • Promoting Women Entrepreneurship and Start-ups
Sources
  • The Hindu – Himachal Pradesh’s Growth in 2024–25 Pegged at 10.2%
  • Himachal Pradesh State Economic Survey 2023–24
  • PIB, Business Standard, Financial Express
  • Times of India, Economic Times