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Farming, realty sector register rapid growth
The constant efforts put in by the State government in promoting agriculture and realty in primary and tertiary sectors respectively are yielding results, according to an official data released by the Planning Department. Farming and real estate sectors registered an impressive growth and played a vital role in the contribution of GSDP (Gross State Domestic Product). The State’s growth rate of the
Hyderabad: The constant efforts put in by the State government in promoting agriculture and realty in primary and tertiary sectors respectively are yielding results, according to an official data released by the Planning Department. Farming and real estate sectors registered an impressive growth and played a vital role in the contribution of GSDP (Gross State Domestic Product). The State’s growth rate of the GSDP was 13. 7 per cent in 2016-17 as against 12.6 per cent in the 2015-16. The total GSDP has been 6.54 lakh crore.
The contribution of primary sector in the GSDP has been increased to 18.5 per cent from 18 per cent. Similarly, the role of tertiary sector in the GSDP was increased by 62.6 per cent. The official data on the State GSDP released by the State Planning Department disclosed that the growth in the crops has been registered at 8.1 per cent in 2016-17 as against 7.3 per cent in 2015-16. Of the total 18.5 per cent contribution from the primary sector, agriculture, livestock, forestry and fishing contributed 15.3 per cent and mining and quarrying 3.1 per cent. Out of Rs 6,54,294 crore GSDP, primary sector registered Rs 92,162 crore. In the previous year, the contribution of primary sector to the GSDP was Rs 77,553 crore.
In the tertiary sector, real estate, road transport and air transport gave a big fillip to the State economy. The contribution of realty and road transport to the GSDP has been increased to 20.8 and 4.8 per cent respectively. The real estate share in the GSDP was Rs 1,25 lakh crore as against Rs 1.09 lakh crore in 2015-16.
The growth in the road transport was Rs 28,635 crore as against Rs 24,188 crore last year. When it comes to airport, it grew to 0.4 per cent from 0.3 per cent in the whole Gross Domestic Product. However, the role of services incidental to transport, communications and services related to broadcasting remain the same for the two consecutive years. Declined trend in financial services and public administration in the tertiary sector are the major worrying factor to achieve the targeted GSDP.
The contribution of secondary sector to the GSDP was most disappointing. The role of manufacturing sector has gone down to 12.2 per cent from 12.7 per cent last year and electricity, gas, water supply and other utility services registered only 1.1 per cent as against 1.3 per cent last year.
