After initiating an IT boom in the region and bringing about a radical transformation in lifestyles, Chandigarh has registered the highest per capita income (PCI) in India.
CHANDIGARH: After initiating an IT boom in the region and bringing about a radical transformation in lifestyles, Chandigarh has registered the highest per capita income (PCI) in India.
According to an official report, the city has recorded PCI of Rs89,034 for the financial year 2005-06 at the current prices, which is more than three times the nation’s PCI (Rs25,956) and more than double the rate recorded in Punjab and Haryana of which Chandigarh is the capital.
“This figure reflects that the city is opening up to a new culture where people earn handsomely and spend with equal aplomb,” said a senior official.
Chandigarh’s constantly increasing PCI has multiplied by about 2.5 times in the last eight years, according to the figures released by the Directorate of Economics and Statistics (statistical cell) in Chandigarh. And in monetary terms, quick estimates of Chandigarh’s per capita income has been projected at Rs1,10,676 during the 2007-08 fiscal.
Statistics also reveal that Chandigarh has drifted from the primary sector in terms of occupation with the tertiary sector ruling the roost in its gross domestic product around 78.09% at constant prices since 1999-2000 with 75.91% in the year under review.
The contribution of the secondary sector — comprising industries or manufacturing sectors — has been around 20.69% since 1999-2000 with 23.54% in the year under review at constant prices.
The contribution of the primary sectors which include agriculture and allied services, however, has also been low in Chandigarh with rapid growth of the service sector and widespread urbanisation contributing substantially to the high rate of PCI. Officials however, attribute Chandigarh’s top position to the growth of the tertiary sector — including factors like trade, commerce, banking, transport and real estate — which contributed 72% growth to the per capita income.
The primary and the secondary sectors accounted for the rest 28% growth. Significantly, the contribution of agriculture, which was 2.66% in 1993-94, has decreased in the last 10 years to a paltry 0.82% indicating a shift of land use from agriculture to urbanisation in a big way.
According to figures, Goa stands next with a PCI of Rs82,903 in 2006-07 at current prices, with Delhi and Haryana following with a PCI of Rs66,728 and Rs49,039.
The change in Chandigarh’s lifestyle was mirrored in the investments made by hordes of multinational companies in the last two years while setting up eateries or retail counters.
And with IT bigwigs like Infosys, Dell, Satyam and Quark making a beeline to find a footing in the city, Chandigarh was no more a city of babus, added the official.
The 114-sq km city, with a population of nearly a million, is also considered to be one of the most expensive cities in the country. “With the Rajiv Gandhi Chandigarh Technology Park (IT Park) likely to attract leading companies and talent, the PCI would go up in the next few years,” a senior official said.
Figures released by the Chandigarh administration indicated that the city mainly comprised people in the service sector or entrepreneurs. The highest PCI has been achieved despite the city not having a big industrial sector.
There are a little over 500 registered industrial units in the city, with less than two dozen medium and large-scale units. The rest are all small scale and village industries.
b_ajay@dnaindia.net
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