Andhra Pradesh industry sector lags behind

 

While the GSDP recorded in the industrial sector for the first quarter of the current financial 2014-15 is 3.96 per cent, compared to the all-India GDP of 4.24 per cent, the GSDP in AP’s services sector in the same period was 6.46 per cent against the national GDP of 6.80 per cent. 

However, AP fared well in the agricultural sector and its GSDP is higher than the national figures in the first quarter. 

 

Andhra Pradesh finance minister on Wednesday reviewed the state’s economic performance with reference to the factors of GSDP and the growth rates recorded by the state in various sectors. The GSDP in agricultural sector for the first quarter is 17.43 per cent against 3.80 per cent GDP. 

 

“The statistical information shows the growth in the agriculture sector of AP is significantly higher than the all-India GDP in the corresponding period. Even, the overall GSDP at constant prices (2004-05) of the state during the first quarter recorded a growth rate of 7.39 per cent, which is higher than the national GDP of 5.71 per cent,” an official said.

 

The finance minister expressed the need for development in the industry and services sectors and instructed the officials of the planning department to identify potential growth areas and sectors in which government investments can be made.

 

Officials were also told to prepare background analysis reports after studying the areas and sector-wise status of economic development in various sectors. They were told to immediately take up a pilot study for mandal-wise GSDP.