Telangana tops in economic development, registers 19.1 per cent increase in GSDP

Telangana has registered a GSDP of Rs 11,54,860 crore in 2021-22, a whopping 19.1 per cent growth over the previous financial year at current prices as on February, 2022. The per capita income has also increased by 18.78 per cent to Rs 2,78,833.

Hyderabad (Telangana):Giving every other state in India a run for their money, Telangana has come out with flying colours registering huge jump in Gross State Domestic Product (GSDP) and per capita income in the current fiscal. The state has surpassed Maharashtra, Karnataka and Tamil Nadu to become top-performing state in the country in terms of growth rate of Per Capita Net State Domestic Product at Current Prices.

Telangana has registered a GSDP of Rs 11,54,860 crore in 2021-22, a whopping 19.1 per cent growth over the previous financial year at current prices as on February, 2022. The per capita income has also increased by 18.78 per cent to Rs 2,78,833. The Ministry of Statistics and Programme Implementation (MOSPI) officially released the figures on Monday. States like Tamil Nadu and Kerala recorded per capita income of Rs 2,56,935 and Rs 2,12,059 respectively, followed by Madhya Pradesh at Rs 1,24,685 and Uttar Pradesh Rs 71,472 during the current financial year.

From 2014-15 to 2021-22, Telangana has recorded 125 per cent increase in the per capita income while the GSDP recorded 130 per cent growth in the mentioned period. As per the latest data, the Telangana State has ranked the highest in the country among states with a population over one crore in terms of growth rate in Per Capita Net State Domestic Product at Current Prices.

All this growth has taken place while COVID-19 has ravaged most of the economies. In terms of the percentage growth in GSDP, Telangana has shown the most rapid bounce-back increasing its growth rate by around 17 percentage points from 2020 to the current time – further evidence of the resilience and efficacies of the governance of the state.

The secret sauce of this success has been targeted policies to transform the agricultural sector and simultaneously boost the growth for the IT and the pharma sectors. The Telangana Rashtra Samithi (TSR) Government under the leadership of Chief Minister KCR is running schemes like Rythu Bandhu focused on farmers, world’s largest lift irrigation project Kaleshwaram aimed at providing water to the fields of Telangana, and Arogya Laxmi that ensures the provision of basic and supplementary food and nutrition to pregnant and lactating women.

“This is the growth trajectory of the youngest State of India. We are not just vibrant, we are Triumphant Telangana,” IT and Industries Minister KT Rama Rao tweeted.