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Negative growth in farm sector affects GSDP
Negative growth in farm sector affects GSDP.Despite the efforts of Finance Minister to give a feeling that ‘all is well,’ figures mentioned in the budget clearly points out that there is agrarian distress in Telangana.
Positive growth registered in services sector
Hyderabad: Despite the efforts of Finance Minister to give a feeling that ‘all is well,’ figures mentioned in the budget clearly points out that there is agrarian distress in Telangana.The negative growth in agriculture during 2014-15 had a big impact on the growth rate of the GSDP of Telangana state which registered 9.9 per cent.
The contribution of agriculture in the growth rate of GSDP has been declined to 12.8 per cent from 15.1 per cent in the previous year with the agriculture and allied services registered – 10.3 (minus) per cent growth rate, according the Socio Economic Survey-2015 released by the Telangana government on Wednesday.
The report said that the irrigation ratio was only 35.86 per cent which was the lowest in the last five years. The net sown area in 2014-15 kharif season was only 41.46 lakh hectares as against 49.61 lakh in previous year and the net irrigated areas was 14.87 lakh hectares against 22.89 lakh last year. The total food grain production has been reduced to 44.30 lakh tonnes as against 107.49 per cent last year.
While, the growth rate of GSDP was highest in services sector with 9.7 per cent followed by industry sector with a growth of 4.1 per cent. In the last five years, the GSDP has been reduced to single digit. The GSDP at current prices for 2014-15 is estimated at Rs 4,30,599 crore as against Rs 3,91,751 crore for 2013-14 with a growth rate of 9.9 per cent.
The report attributed that the adverse seasonal conditions was the main reason for registering negative growth in the agriculture sector. The structural composition of the state economy witnessed significant changes during the last decade. During the period from 2005-06 to 2014-15, agriculture sector recorded highest growth rate of 25.2 per cent in 2005-06 , the services sector with 18.3 per cent in 2010-11 and industry sector with 17.1 per cent in 2006-07.
Within the agriculture sector, only livestock sector had shown positive growth rate, while other sub sectors- forest and fisheries registered mixed growth over the years.In the service sector, transport, communications, banking and insurances, real estate, ownership of dwellings and business services and other services registered positive growth, while trade, hotels, restaurants, railways and public administration have shown mixed growth.
