The Hindu : Andhra Pradesh News : AP surpasses national average in economic and per capita growth after Q3

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Sunday, Jan 20, 2008
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Andhra Pradesh

Andhra Pradesh

AP surpasses national average in economic and per capita growth after Q3

Special Correspondent

HYDERABAD: The State has once again surpassed the national average in economic and per capita growth rates by registering 9.83 per cent economic growth rate after the third quarter of the present financial year ending December 31. This is against the national average of 8.5 per cent (8.9 per cent revised estimates) economic growth and the significant growth could be achieved in spite of the global pressures and natural calamities.

Impressive

The per capita growth for the three quarters too had been impressive at 8.3 per cent as against the national average of 7.3 per cent.

More FDI

Chief Minister Y.S. Rajasekhara Reddy who held a discussion on the economic growth and planning with senior officials headed by Special Chief Secretary (Planning) A.K. Goel on Saturday exuded confidence that the State would attract more foreign direct investments in the industrial sector in the coming days. Even the agriculture sector was set to witness a record production despite of flash floods that occurred thrice during the year.

He was told that the cumulative Gross State Domestic Product during the three quarters at constant prices was estimated at Rs. 1.46 lakh crore against Rs. 1.33 lakh crore during the corresponding period of the previous fiscal.

Growth in agriculture

The growth in the agriculture and allied sectors was estimated at Rs. 26,539 crore against Rs. 23,660 crore of the previous year, posting 12.17 per cent increase.

While the growth in agriculture alone was pegged at 21.37 per cent.

The performance of Industries sector was estimated at Rs. 38,872 crore against the previous year’s Rs. 36,078 crore, marking 7.74 per cent growth and the construction sector too showed a growth rate of 12.20 per cent owing to the Jala Yagnam and Indiramma programmes.

The Gross State Domestic Product from the Services sector increased from Rs. 73,400 crore to an estimated Rs. 80,816 crore, registering 10.10 per cent growth.

The overall growth of trade sector, reflecting the performance in agriculture as well as industries sectors, was pegged at 8.57 per cent. Banking & insurance and real estate & ownership of dwellings grew at 10.54 per cent and 11.27 per cent respectively.

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