AP State achieves 11.25 % growth in Q1

Amaravati: Economic growth of Andhra Pradesh is showing consistency in achieving sustainable double-digit growth as expected by the Chief Minister N Chandrababu Naidu, said Minister of Finance, Yanamala Ramakrishnudu in a review meeting conducted on Tuesday at secretariat. 

In the first quarter of 2018-19, Gross Value Added (GVA) growth is 11.25 per cent at constant (2011-12) prices over previous year. Agriculture and allied sectors GVA growth is 14.66 per cent, Industry sector GVA growth is 11.00 per cent and services sector GVA growth is 10.10 per cent, the officials revealed the statistics on Tuesday.

Finance Minister reviewed the status of first quarter economy of current financial year (2018-19) subsector wise and the progress of second quarter with the advisor (Economic Growth) with the officials of Directorate of Economics and Statistics on at secretariat. 

In livestock sector Prakasam district contributing 11.7 per cent followed by Krishna 11.4 per cent and West Godavari 10.9 per cent. Lot of potential is available in other districts too, and can be acheived by providing needy logistics, he noted.

While in fishing sector Krishna & West Godavari districts alone contribute about 60 per cent to the State. Other districts also have a great potential and can be accelerated by providing required logistic support, Ramakrishnudu added. Manufacturing sector Visakhapatnam stood highest with contribution of around 30 per cent followed by Guntur 11.89 per cent.

Minister directed to analyse the GVA of old units of manufacturing, units for the last four years and MSME Units which provides huge job opportunities in the state.

Coming to services sector there is a potential for improving the GVA particularly in tourism, IT, real estate and trade. He instructed officials to analyse these sectors in detail and prepare a note for conducting the meeting with respective line departments.

While reviewing the Agriculture sector, the Finance Minister instructed to the officials to analyse the land use pattern in detail. He said that the new ayacut or irrigated area developed and productivity, area diverted from agriculture to horticulture sector particularly in Anantapur district, land converted for fish ponds and other main issues.

It is observed that an average around 5 per cent land is left as other fallow and around 8 per cent land left as current fallow every year. He directed the officials to analyse the reasons for other fallow and current fallow lands. Ramakrishnudu further asked the officials to analyse the growth rate of population, food production, paddy, wheat and inflation.