VIJAYAWADA: Andhra Pradesh’s economy is regaining stability after years of disruption, Swarnandhra P-4 Foundation Vice Chairman C Kutumba Rao said on Tuesday.
Speaking at a TDP press conference, he cited CM N Chandrababu Naidu’s latest economic indicators, showing the State is returning to sustained growth. Kutumba Rao alleged that during the YSRCP government (2019–2024), the Gross State Domestic Product (GSDP) suffered cumulative losses exceeding Rs 7 lakh crore. Instead of annual growth of Rs 1–1.5 lakh crore, the GSDP contracted, causing a revenue shortfall of over Rs 70,000 crore. Comparing with Telangana, he noted Andhra Pradesh grew 13.21% between 2014–2019 versus Telangana’s 13.5%, but fell to 9.1% under YSRCP, while Telangana reached 11%. Per capita income stagnated at Rs 2.66 lakh, behind Telangana’s Rs 3.87 lakh.
He said the economy has rebounded under Naidu in 18 months, with agriculture achieving 65% of targeted GSDP growth, industry 45%, and services, including IT, tourism, and logistics, on track to exceed expectations. Efforts include developing Vizag as an IT hub, streamlining AP Logistics Corporation, and providing low-cost logistics services.
He criticised the previous regime for neglecting Central schemes and cancelling renewable energy PPAs. Under the current administration, AP has attracted Rs 10 lakh crore in investments.