Andhra Pradesh posts 16.22% growth rate in 2022-23
Amaravati, March 15 Andhra Pradesh has registered an economic growth of 16.22 per cent during 2022-23, says Socio-Economic Survey of the state.
In 2022-23, as per Advance Estimates, AP State posted a growth of 16.22 per cent over the previous year, according to the report released by Chief Minister Y.S. Jagan Mohan Reddy on Wednesday
GSDP at current Prices for the year 2022-23 (AE) is estimated at Rs 13,17,728 crore as against Rs.11,33,837 crore for the year 2021-22 (FRE). There was a net addition of Rs.1,83,891 crore to the state economy.
Planning Secretary Vijay Kumar told reporters that Andhra Pradesh is number one in the country in economic progress.
Among sectors, agriculture and allied sectors recorded a growth rate of 13.18 per cent (Gross Value Added growth rate at current prices). Agriculture alone grew at 20.72 per cent followed by fisheries at 19.41 per cent.
According to the socio-economic survey, the growth rate in the industrial sector was 16.36 per cent. The services sector registered a growth rate of 18.91 per cent.
It also revealed that in 2021-22, Andhra Pradesh posted a record growth of 7.02 per cent at constant prices (2011-12) against the country’s growth of 7 per cent.
Vijay Kumar said that the per capita income of Andhra Pradesh is higher than all-India average.
The per capita income of Andhra Pradesh at current prices increased to Rs 2,19,518 in 2022-23 as against Rs.1,92,587 in 2021-22 — a jump of Rs 26,931 in a year.
Per Capita Income (PCI) growth rate (Current Prices) in 2021-22 was 13.98 per cent
All India per capita income for 2022-23 is Rs 1,72,000 up from Rs 1,48,524 in 2021-22 — a jump of Rs 23,476.
The government has so far incurred an amount of Rs 1.97 lakh crore through Direct Benefit Transfer (DBT) under various schemes relating to the sectors of education, health, women, farmers, welfare and other sectors.
Meanwhile, the Chief Minister told the state Assembly that his definition of economics is to eradicate poverty.
“Only the opposition talks about things like Microsoft, Bill Gates and the bullet train. But I remain grounded. My journey is with the common man. My journey is with the poor. My battle is against those who rob the poor. My goal is to eradicate poverty,” he said.
“A society can become strong only if poor families are financially strong. The state will do good only if all the regions and all groups are strengthened. This is the principle I believe in. This is my economics and the politics and history which I have learnt from my father,” added Jagan Mohan Reddy.