Jammu and Kashmir: Umar Abdullah introduced Economic Survey Report, estimated to be 7.06 percent in the year 2024-25 Tezzbuzz  |  07/03/2025 05:24:18

Jammu: The country's most beautiful state of Jammu and Kashmir is expected to grow at a rate of 7.06 percent in the current financial year 2024-25, while the GDP is expected to grow at the rate of 11.19 percent in GSDP FY 2024-25 on the market value. It has been said in the Economic Survey Report for FY 2025-26 i.e. ESR.

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 presented the Economic Survey Report in the Jammu and Kashmir Assembly on Thursday. The Finance Ministry is also with Omar Abdullah.

The report deeply analyzed the Economic Performance of the sector, the progression of development and future approaches, providing valuable insights for policy producers and stakeholders. The report said that the real GSDP of Jammu and Kashmir is expected to grow at a rate of 7.06 percent. Also, GSDP is expected to grow at the rate of 11.19 percent at market price in 2024-25.

According to the report, the size of the GDP at the economy of Jammu and Kashmir i.e. market price is estimated to be around Rs 2.65 lakh crore, and its real GSDP is expected to be around Rs 1.45 lakh crore during 2024-25.

The report stated that Jammu and Kashmir is estimated to achieve an annual growth rate of 4.89 percent in its real GSDP from 2019-20 to 2024-25, while a growth rate of 4.81 percent was recorded from 2011-12 to 2019-20.

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The report said that Jammu and Kashmir's per capita annual income at current prices is estimated to reach Rs 1,54,703 i.e. advance estimate in 2024-25, while 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 be increased at a rate of 10.6 percent in 2024-25. The report further states that Jammu and Kashmir is actively contributing to the national GDP i.e. 0.8 percent in the ratio of its population i.e. 0.98 percent.

(With agency input)

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