Telangana GSDP growth rate higher than national average: FM T Harish Rao

HYDERABAD: Pointing out that the Gross State Domestic Product (GSDP) of Telangana increased to 4.97 percent in the year 2020-21, Finance Minister T Harish Rao said that the State was prospering in all sectors. Answering a question raised by G Kishore Kumar during the question hour, the Minister said that the share of GSDP to the Gross Domestic Product (GDP) of India in the year of formation  of the State was 4.06 per cent and it has reached to 4.97 per cent.

The increase is due to the additional annual average contribution of the primary sector (19.7 per cent), manufacturing (11.9 per cent), trade and repair services (13.8 per cent), real estate, ownership of dwelling units and professional services (IT) (21 per cent), the Minister said.

Harish Rao mentioned that the growth rate of the State was better than the average growth rate of the country.He said that the government had spent `2.5 lakh crore on agriculture and allied sectors during the last seven years. Targeting the Central government, he alleged that the Centre had been unfair to the State by ignoring the recommendations of the Finance Commission. 

Speaking further, Harish Rao said that the State government was focusing on the completion of pending irrigation projects and added that they were also implementing schemes like Rythu Bandhu, Rythu Bhima and crop loan waiver schemes for the farmers.