Telangana State dwarfed national growth: E S L Narasimhan

Hyderabad: The State government has claimed to have registered ‘significant’ and ‘impressive’ growth rate during the financial year of 2016-17 vis-à-vis national growth rate. During his customary address to the joint session of both Houses of state Legislature - Assembly and Council on Friday, Governor E S L Narasimhan said as per the advanced estimates for the current financial year, the overall Gross State Domestic Product (GSDP), primary sector of agriculture, secondary sector of industries and service sector are likely to register an impressive and significant growth rates vis-a-vis national growth rates projected for the corresponding financial year.

He said, the GSDP growth rates had been pegged at 13.7 per cent at current prices as against the all India growth rate projected at 11.5 per cent. At constant prices of 2011-12, the corresponding growth rates stands at 10.1 per cent as against the all India projections of 7.1 per cent, Narasimhan said. In monetary terms, the state’s GSDP at current prices for the year 2016-17 has been pegged at Rs 6.54 lakh crore.

The agriculture sector is expected to register a significant growth rate of 17.2 per cent against the all India growth rate of 9 per cent. Good monsoon and proactive steps taken by the government to rejuvenate the rural economy are the two factors which have boosted higher growth rates in the primary sector, he added.

Similarly, the secondary sector of industries and manufacturing is likely to register 1.1 per cent more than the national growth rate for the financial year. Growth rate of the State’s secondary sector is expected to touch 9.8 per cent as against the national growth of 8.7 per cent. Even the service sector of the State is expected to grow at 14.6 per cent compared to all India growth rate of 11.9 per cent, he added.