Industry, Service Sectors to Drive Telangana's Economy - The New Indian Express

Industry, Service Sectors to Drive Telangana's Economy

Published: 02nd June 2014 03:18 PM

Last Updated: 02nd June 2014 03:19 PM

HYDERABAD: Telangana recorded a GSDP (State Gross Domestic Product) of Rs 3,35,018 crore for the year 2012-13, driven by industry and services sectors.

As per reports prepared by the officials of erstwhile Andhra Pradesh, the average annual GSDP growth of Telangana, which came into being as the country's 29th state today, between 2004-05 and 2012-13 was 16.05 per cent. The state GDP grew 13.26 per cent in 2012-13 to Rs 3,35,018 crore over Rs 2,95,767 crore in 2011-12, it said.

"In 2012-13, the service sector at Rs 1.81 lakh crore contributed 54 per cent to the GSDP (at current prices). It was followed by the industry sector, contributing 28.8 per cent at over Rs 96,000 crore and the agriculture sector's contribution was at 17.2 per cent at over Rs 57,000 crore," a senior official told PTI.

According to the official, 95 per cent of the revenue from services sector was contributed by the capital Hyderabad and surrounding areas.

Telangana's per capita income of Rs 24,409 in 2004-05 has phenomenally grown to a whopping Rs 83,020 in 2012-13, the reports said.

Despite some sluggishness during 2009-10, the growth was largely on track during 2008-09 to 2012-13.

However, on the flip side, barring Hyderabad and Ranga Reddy districts, the number of households using open toilets hovers at 58.6 per cent of the total in the state.

While Hyderabad has less number of households using open toilets at 0.9 per cent, Mahabubnagar is at 71.1 per cent.

The land-locked state is expected to have nearly Rs  4,000 crore surplus budget, but lingering power deficit may force the new government to spend more on the power purchase, the official said.

The neighbouring Andhra Pradesh may face the deficit anywhere between Rs 14,000 to Rs 15,000 crore.

The undivided state had shown Rs 18,600 crore surplus in its budget last fiscal, the official added.

Telangana, spread in 1,14,840 square kilometres, has 66.46 per cent literacy rate with a population of 3.52 crore.

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