Telangana State achieves 9.2% growth rate

Telangana State achieves 9.2% growth rate
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Highlights

Telangana has achieved significant growth rate of 9.2 per cent in the current fiscal and per capita income has reached Rs 1.43 lakh for the year 2015-16. Advanced estimates prepared by the State Planning department for this year has put the state\'s growth rate at 9.2 per cent as against an all-India growth rate of 7.6 per cent. Last year, Telangana\'s growth rate was 8.8 per cent.

Hyderabad: Telangana has achieved significant growth rate of 9.2 per cent in the current fiscal and per capita income has reached Rs 1.43 lakh for the year 2015-16. Advanced estimates prepared by the State Planning department for this year has put the state's growth rate at 9.2 per cent as against an all-India growth rate of 7.6 per cent. Last year, Telangana's growth rate was 8.8 per cent.

The estimates pegged the Gross State Domestic Product (GSDP) at Rs 5.83 lakh crore and the growth rate at current prices in Telangana would be 11.7 per cent, against an all-India growth rate of 8.6 per cent at current prices. State GSDP at constant prices is Rs 4.68 lakh crore.

Officials said, barring the agriculture sector, other sectors like industries and services have shown significant growth. The planning department in its report submitted to Chief Minister K Chandrashekar Rao stated that the per capita income of Telangana for 2015-16 has been put at Rs 1,43,023 at current prices and it is way above the national average of Rs 93,231.

State per capita income at constant prices was Rs 1,14,212 as against an all-India per capita income of Rs 77,431. The state has seen rapid strides in the sectors of industries and services. The services sector grew by 14.6 per cent, followed by 12.9 per cent in the field of communications, 12.5 per cent in real estate, 12.5 per cent in hotels and restaurants, 9.6 per cent in debt servicing and 9.5 per cent in manufacturing.

Uncertain weather conditions have cast a shadow on the growth of the agricultural sector as more than 60 per cent of the population depends on agriculture. The sector recorded a negative growth rate of 1.9 per cent this year against a negative growth rate of 0.4 per cent last year.

The Department of Statistics reported that income on agriculture was down by 18 per cent this year. Though agricultural growth suffered a decline this year due to adverse seasonal conditions, allied sectors like fishing have shown positive growth rates of 17.8 per cent , livestock 12.2 per cent and mining 6.9 per cent.

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