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Survey stresses key growth factors
The GSDP for the year 2017-18 based on Advance Estimates at current basic prices is estimated at Rs. 8,03,873 crores as against Rs. 6,95,491 crores for 2016-17, revealed the AP Socio Economic Survey, presented by the Finance Minister Yanamala Ramakrishnudu in the Legislature Assembly on Thursday here in Velagapudi.
Amaravati: The GSDP for the year 2017-18 based on Advance Estimates at current basic prices is estimated at Rs. 8,03,873 crores as against Rs. 6,95,491 crores for 2016-17, revealed the AP Socio Economic Survey, presented by the Finance Minister Yanamala Ramakrishnudu in the Legislature Assembly on Thursday here in Velagapudi.
The Socio Economic Survey captures the socio-economic changes that took place in the state since the beginning of the financial year. The report essentially attempts to present the growth performance of the state economy by capturing the progress under key macro-economic aggregates and physical outcome due to implementation of various programmes or schemes during the year 2017-18 based on First Revised Estimates (FRE).
As per the Advance Estimates, the GSDP at constant (2011-12) Prices for the year 2017-18 is estimated at Rs. 6,07,388 crores as against Rs. 5,46,104 crores for 2016-17 based on FRE, indicating a growth of 11.22 per cent.
The corresponding growth of GDP of India is 6.6 per cent. The GVA at Constant (2011-12) Basic Prices for the year 2017-18 is estimated at Rs. 5,48,439 crores as against Rs. 4,92,374 crores of 2016-17 FRE, registered a growth rate of 11.39 per cent.
The sectoral growth rates of GVA of AP for 2017-18 at constant (2011-12) prices are Agriculture: 17.76 per cent, Industry: 8.49 per cent and Services sector: 9.11 per cent.
The Per Capita Income (NSDP) of AP at current prices increased to Rs. 1,42,054 from Rs. 1,22,664 in 2016-17 registering a growth of 14.87 per cent.
Public Finance The revenue for the state in FY 2016-17 stood at Rs. 44,181 crores from Own Tax sources, Rs. 3,989 crores from Own Non-Tax sources and Rs. 49,292 crores of Central Transfer.
The total Own Tax Revenue was Rs. 44,181 crores in FY 2016-17 and Rs. 52,717 crores in FY 2017-18 of Revised Estimates (RE). The Sales Tax accounted for 62 per cent of the State’s Own Tax Revenue for FY 2017-18 RE.
The Resource flow from the Centre was Rs. 49,292 crores in 2016-17 and was Rs. 66,837 crores in 2017-18. The Total Expenditure by the State, excluding ways and means advance, was Rs. 1,31,923 crores in the FY 2016-17 and was Rs. 1,51,297 crores in 2017-18.
The Revenue expenditure was Rs. 1,16,178 crores in 2016-17 and Rs. 1,27,272 crores in 2017-18. Debts of State The Total Debts by State was Rs. 2,01,314 crores at the end of the FY 2016-17 and was Rs. 2,25,234 crores at the end of FY 2017-18 based on Revised Estimates.
In 2016-17, AP faced a Revenue Deficit of Rs. 17,193 crores and a Fiscal Deficit of Rs. 30,908 crores. Due to focused and planned management of the State’s finances, these deficit numbers could be brought down to Rs 4,018 crores and Rs. 27,603 crores for the Revenue deficits and Fiscal deficits respectively for the year 2017-18.
Prices
Consumer Price Indices for Industrial Workers increased 1.23 per cent and 2.12 per cent in the State and All India level respectively during the period from April 2017 to October 2017 over the corresponding period of previous year, revealed the Socio-economic Survey of AP.
Housing
A total of 1,02,977 houses were sanctioned in 2017-18 with a project cost of Rs. 3,604 crores. The government has decided to construct and handed over 5 lakh dwelling units by March 2019. So far 4.81 lakh houses sanctioned in 98 Municipalities out of 110 Municipalities under PMAY NTR Nagars Scheme with a project cost of Rs. 38,262 crores. Of the 4.81 lakh sanctioned houses,4742 houses were completed.
Poverty
The poverty ratios for rural and urban areas of united AP were 10.96% and 5.81% respectively and combined ratio stands at 9.2%. The poverty in the State is currently stands at 9.2%. That means, there was no change in the poverty, despite of showing higher Per Capita Income in the State.
Employment
As per the National Sample Survey Office (NSSO) of 68th Round (during 2011-12) the unemployment rate for AP for Rural and Urban sectors stood at 12 and 43 respectively.
Per Capita Income
Interestingly, the Per Capita Income shown substantial jump from Rs. 1,07,276 in 2015-16 to Rs 1,42,054 in 2017-18. Thus, every year, on an average, nearly Rs 12,000 are being added to the per capita.
