J&K economy expected to grow at 7.06% in 2024-25: Economic Survey

Jammu and Kashmir's economy is projected to grow at 7.06%, with unemployment declining to 6.1% in 2023-24.

The economy of Jammu and Kashmir is projected to grow at 7.06% in real terms, while the nominal Gross State Domestic Product (GSDP) is expected to rise by 11.19% in 2024-25, according to the Economic Survey Report (ESR) for 2025.

The report said that J&K has shown significant progress, with the unemployment rate declining to 6.1% in 2023-24 from 6.7% in 2019-20.

Chief Minister Omar Abdullah, who also serves as the Finance Minister, tabled the report in the J&K Assembly on Thursday (March 6, 2025).

The report provides an in-depth analysis of the region’s economic performance, development progress, and future outlook, offering valuable insights for policymakers and stakeholders.

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“The real GSDP of J&K is expected to grow at 7.06%, and the nominal GSDP is expected to grow at 11.19% in 2024-25,” the report stated.

“The size of J&K’s economy (Nominal Gross State Domestic Product) is estimated to be approximately ₹2.65 lakh crore, and its real GSDP is estimated to be about ₹1.45 lakh crore during 2024-25,” it said.