Srinagar, Feb 05: Jammu and Kashmir’s economy is projected to grow by 5.82 percent in real terms during 2025–26, while its per capita income has risen faster than that of several northern states in recent years, according to official data released on Thursday.
As per official data accessed by Kashmir Convener, the Union Territory’s nominal Gross State Domestic Product (GSDP) has been estimated at ₹2.86 lakh crore for the current financial year.
The data show that per capita income (NSDP) in nominal terms is estimated to be ₹1,68,243 in 2025–26. Between 2019–20 and 2024–25, however, J&K’s per capita income grew at a compound annual growth rate (CAGR) of 8.81 percent—higher than states such as Himachal Pradesh, Delhi, Punjab, and Haryana.
Official figures indicate an improvement in key economic indicators. The unemployment rate declined from 6.7 percent in 2019–20 to 6.1 percent in 2023–24, while inflation eased from 4.5 percent in 2024 to 3.8 percent in 2025.
On the fiscal front, tax and non-tax revenues showed steady growth. In the first eight months of FY26, revenue realization stood at ₹13,521 crore. The share of non-tax revenue in the UT’s own resources increased from 29 percent in FY22 to 33 percent in FY25.
Capital expenditure remained robust, accounting for 42 percent of total expenditure during the April–November period of FY26.
The data also highlight improvements in the banking sector, with the credit-deposit ratio at 62.93 percent and gross Non-Performing Assets (NPAs) declining to 3.26 percent.
In agriculture, food grain production increased by 1.33 percent, with a noticeable shift toward high-value and organic crops, officials said.
Jammu and Kashmir contributes about 0.8 percent to the national GDP, which is broadly in line with its population share, the data added.
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