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RBI all praise for Telangana
Faster than the fast-growing states of Karnataka, TN, Bengal
Hyderabad: Telangana stood at the top position among all states in India by registering double growth in Agriculture in a period of five years. The net state value added by economic activity from Agriculture, Forestry and Fishing has increased to Rs 1.81 lakh crore in 2020-2021 from Rs 95,000 crore in 2017-2018.
According to the RBI report – "Handbook of Statistics on the Indian Economy -2020-2021", Telangana has also reported huge growth in Trade, Hotels and Restaurants. The report said the total volume of economic activity in the trade has increased from Rs 1 lakh crore to Rs 1.69 lakh crore.
The credit for this double growth, according to official sources, is attributed to a slew of measures taken by the state government in improving irrigation facility by completing pending and new irrigation schemes, implementation of Rythu Bandhu scheme, supply of quality seeds, free fish distribution and other such measures. The agricultural output mainly paddy production has crossed one lakh metric tonnes after the Kaleshwaram lift irrigation scheme was completed, they added.
According to the RBI report, "The net state value added by the economic activity from Agriculture had increased 100 per cent during the five-year period 2017-2021. Paddy production in 2017 was 62,000 metric tonnes. By 2021, it went up to 1.23 lakh metric tonnes. Cotton production increased to 34,000 metric tonnes from 6,000 metric tonnes. Total food grain production (including pulses) was 1.50 lakh metric tonnes in 2021 as against 94,000 metric tonnes in 2017, the report said.
States like Karnataka, Tamil Nadu and West Bengal considered to be fastest growing states in the Agriculture sector registered only 30 per cent to 40 per cent growth in the farm production, whereas Telangana reported 100 per cent growth.
In the area of Trade, Telangana was competing with commercially strong Maharashtra, Tamil Nadu and Gujarat by registering healthy growth for the past five years. The Manufacturing sector received huge investments and the economic activity from the sector had increased to Rs 1.03 lakh crore from Rs 71,274 crore between 2017 and 2021. The TSiPASS and other proactive measures taken by the state government to invite the investors from multinational companies and domestic sector helped the Manufacture sector in faster growth.
In the Construction sector, the report said, the net state value added by economic activity was Rs 1.69 lakh crore as against Rs 1 lakh crore five years ago. The total value of economic activity in mining and quarrying was Rs 25,866 crore in 2021 as against Rs 19,880 crore in 2017.