Puducherry GSDP grew by 7.54 % and per capita income by 7.61% in 2023-24

Puducherry's GSDP and per capita income grew in 2023-24, with the outgoing L-G thanking the Union Government for support.

While the Gross State Domestic Product of the Union Territory recorded a growth of 7.54 % in 2023-24 compared to 2022-23, the per capita income of UT registered a growth of 7.61 % in 2023-24 compared to the year before, the outgoing Lieutenant Governor of Puducherry C. P Radhakrishnan has informed the Legislative Assembly.

Delivering the customary address amid a walkout by Opposition Dravida Munnetra Kazhagam and Congress in the Assembly on Wednesday, July 31, 2024 Mr. Radhakrishnan said the GSDP of UT has been estimated at ₹48,052 (current price) for 2023-24 which is 7.54% higher than the previous year of 2022-23.

The per capita income of Puducherry has increased from ₹ 2,44,469 (current price) for the year 2022-23 to ₹ 2,63,068 (current price) for the year 2023-24, showing a growth rate of 7.61%, he said.

Of the total budgetary allocation of ₹ 12,250 crore in the previous financial year, the government has incurred an expenditure of ₹ 11,464 crore. The spending by the government in the previous fiscal was 93.58% of the total outlay, which was 6.55% higher than the expenditure met by the administration in 2022-23, the L-G said.

Expressing gratitude to the Union Government for providing additional funds to the tune of ₹271 crore in the Revised Estimate stage of the previous fiscal, he said the allocation has benefited in the settlement of arrears to 16,000 pensioners and payment of arrears to 1,500 teaching faculty.

He also informed the house that the government, during the last financial year filled 1,119 posts in various departments through direct recruitment.

Listing out the other achievements of the government, he said as per the agreement signed by the government with Power Trading Corporation for selling surplus power, the Electricity Department has sold 550 million units during 2023-24 raising a sum of ₹261. 20 crore through sale of surplus power.