Even in slow eco,Delhi grew at 11.3%

The gross state domestic product (GSDP) of Delhi at the current prices for the year 2011-12 has been estimated at Rs 3,13,934 crore against Rs 2,64,496 crore in 2010-11,as per the latest government figures.

“Delhi’s contribution to the GDP of the country was 3.8 per cent in 2011-12,while (it had) 1.4 per cent share in total population of the country,” Chief Minister Sheila Dikshit said. She said she was confident of maintaining a high growth rate in 2012-13.

The Delhi government projects the city-state’s economy to grow at 11 per cent to 11.5 per cent during the 12th Five Year Plan period,said senior Finance department officials. Delhi’s growth rate in the 11th Plan period was 11.46 per cent,as compared to 7.9 per cent at the national level.

Officials said though the government had faced crunch in the financial year 2010-11,due to huge spending in the Commonwealth Games projects,the position improved significantly as tax collection in 2011-12 was “very impressive”.

The Delhi government had collected a total revenue of Rs 19,972 crore in the previous fiscal and set a target to generate Rs 26,150 crore from tax revenue in 2012-13,an increase of 31 per cent from the previous fiscal.

The city government has already taken a number of steps,including enhancing the tax collection mechanism and keeping the fiscal deficit under control to keep its financial position healthy.

The fiscal deficit is proposed to be reduced to Rs 2,604 crore in 2012-13; it was Rs 3,177 crore in 2011-12 as per revised estimates.

Officials said they expect the services sector to grow further as the industrial policy,unveiled last year,encourages the sector.

As per figures,the share of tertiary sector (services sector),in city’s GSDP was about 82 per cent in 2011-12 followed by secondary sector at 17 per cent and primary sector at 0.87 per cent.

The primary sector comprises agriculture and allied services while the secondary consists of construction and manufacturing sectors. The contribution of construction sector to the GSDP at current prices in 2011-12 was Rs 30,042 crore as against Rs 25,253 crore in the previous year.