New Delhi wealthy residents continue to spend on luxury
Despite India’s economic slowdown and growing inflation, affluent Delhi residents do not seem to stop splurging on entertainment and luxury, according to the the latest Delhi government data. The trend of spending could be attributed to around 16 per cent increase in per capita income of the people in 2011-12 compared to the previous year.
As per the latest Delhi government statistics, the per capita income of people in Delhi at current prices without factoring in inflation has been estimated at Rs 1,75,812 which is an increase of Rs 25,159 from Rs 1,50,653 in 2011-12. According to the figures, a whopping five lakh new vehicles hit the city roads in 2011-12 while a total of 1.08 crore cases of Indian made foreign liquor were sold during the year as against 92 lakh cases in 2010-11. In another indication of rising spending on entertainment, around 98,000 people went to theatres daily in 2011-12 as against 90,000 people in the previous year.
“These figures reflect a vibrant economy and fast-improving infrastructure in Delhi,” Chief minister Sheila Dikshit, who also holds the finance portfolio, said releasing the Delhi Statistical Handbook. Goa topped the list of per capita income with Rs 1,92,652 while Haryana with per capita income of Rs 1,09,227 occupied the third position. The national average has been worked out at Rs 60,972. As per the handbook, the per capita income in Delhi at constant prices was Rs 1,19,032 in 2011-12, a jump of Rs 10,156 compared to Rs 1,08,876 the previous fiscal. Officials said the per capita income of Delhi in 1998-99 was Rs 40,060 against Rs 1,75,812 in 2011-12 which reflects a hike of 339 per cent