Jammu, Feb 05 (KNO): The Jammu and Kashmir Union Territory is expected to record a real Gross State Domestic Product (GSDP) growth of 5.82 per cent and a nominal GSDP growth of 8.89 per cent in 2025-26. The size of the economy is estimated at around Rs 2.86 lakh crore in nominal terms and Rs 1.50 lakh crore in real terms.
This was revealed by the J&K Economic Survey Report 2025-26, tabled by the government in the Assembly.
The Union Territory, as per the report accessed by the news agency—Kashmir News Observer (KNO), is estimated to achieve a compound annual growth rate (CAGR) of 4.47 per cent in real GSDP between 2019-20 and 2024-25. Per capita income (Per Capita NSDP) is projected at Rs 1,68,243 in nominal terms for 2025-26, compared to the national per capita income of Rs 2,19,575.
Comparative analysis shows that Jammu and Kashmir’s per capita income in nominal terms recorded a higher growth rate than several northern states and Union Territories during 2019-20 to 2024-25.
During this period, the UT’s per capita income grew at a CAGR of 8.81 per cent, surpassing Himachal Pradesh (6.54 per cent), Delhi (6.74 per cent), Punjab (7.46 per cent), Chandigarh (8.21 per cent), and Haryana (8.72 per cent).
The UT contributes approximately 0.8 per cent to the national GDP, broadly reflecting its population share. Sector-wise, the primary, secondary, and tertiary sectors are estimated to contribute 20.45 per cent, 18.52 per cent, and 61.02 per cent, respectively, to the Gross State Value Added (GSVA) in 2025-26.
Inflation in Jammu and Kashmir has eased to 3.8 per cent in 2025 from 4.5 per cent in 2024, showing an overall decline of 0.7 percentage points.
Revenue collection during the current financial year till November 2025 stands at Rs 13,521 crore, accounting for 64 per cent of Rs 21,121 crore realised in FY 2024-25.
Among revenue streams, non-tax revenue’s share in total resources has increased from 29 per cent in FY 2021-22 to 33 per cent in FY 2024-25, with a slight dip to 32.43 per cent in 2025-26 so far. Power tariffs accounted for the highest share in non-tax revenue, rising from 56 per cent in FY 2021-22 to 71 per cent in FY 2024-25. Tax revenue of Rs 9,136 crore has been realised in eight months of FY26, alongside non-tax revenue of Rs 4,386 crore.
Among major contributors, taxes on power showed the highest growth, up 80.71 per cent from Rs 2,716 crore in FY 2021-22 to Rs 4,908 crore in FY 2024-25, followed by GST collection growth of 34.28 per cent and excise revenue increase of 27.42 per cent.
Revenue expenditure in eight months of FY26 is Rs 45,157 crore, or 64 per cent of FY25’s total, while capital expenditure stands at Rs 7,933 crore, 42 per cent of the previous year—(KNO)