J&K's economy expected to grow at 7.06% in 2024-25

The economy of Jammu and Kashmir is projected to grow at 7.06% in real terms, while the nominal Gross State Domestic Product (GSDP) is expected to rise by 11.19% in 2024-25, read the Economic Survey Report for the year 2024-25 tabled by J&K chief minister (CM) Omar Abdullah on Thursday in the legislative assembly.

- HT Correspondent

SRINAGAR:

The economic report was tabled ahead of budget which will be presented in the House on Friday.

"The nominal GSDP is estimated to reach ₹2.65 lakh crore, while the real GSDP is projected at ₹1.45 lakh crore. This growth reflects a compound annual growth rate of 4.89% in real GSDP from 2019-20 to 2024-25, surpassing the previous period's growth rate of 4.81% from 2011-12 to 2019-20. The per capita income is expected to reach ₹1,54,703 in 2024-25, showing a robust increase of 10.6%, indicating improved economic well-being for the residents of the J&K," the report said.