VIJAYAWADA: Chief Minister Nara Chandrababu Naidu has directed the District Collectors to focus on attracting private investments to fulfil the ambitious Swarnandhra Vision 2047.
Speaking at the Third Collectors’ Conference at the Secretariat on Tuesday, Naidu emphasised that while 23% of development funds come from government support, the remaining 77% must be driven by private sector investments. He encouraged collectors to identify and promote projects that require Viability Gap Funding (VGF), promising that the government would increase funding where necessary to attract investments.
Highlighting the importance of wealth creation, the Chief Minister stressed that Andhra Pradesh’s economic growth depends heavily on boosting key sectors like livestock, horticulture, manufacturing, and aquaculture. He urged collectors to focus on these areas to maximise income generation.
“Districts once considered underdeveloped are now advancing rapidly. We must adapt and respond to this changing economic landscape,” Naidu advised, calling on collectors to demonstrate leadership in fostering growth.
To strengthen administrative capabilities, the Chief Minister announced plans to establish a premier training institution modelled after Hyderabad’s Dr MCR HRD Institute to promote leadership and governance skills.
During the conference, Principal Secretary (Finance) Peeyush Kumar presented the Swarnandhra Vision strategy, which targets a 15% annual growth rate to transform Andhra Pradesh into a $2.4 trillion economy with a per capita income of USD 42,000 by 2047.
To achieve this goal, the State government plans to increase its population from 5.3 crore to 5.8 crore, attain 100% literacy, and raise life expectancy to 85 years. Economically, Andhra Pradesh aims to grow its Gross State Domestic Product (GSDP) from Rs 15.93 lakh crore to Rs 18.65 lakh crore by 2025-26 and add Rs 15 lakh crore to its economy by 2029 through investments worth Rs 40 lakh crore.
The State’s investment roadmap for sector-wise allocations for the next five years includes Rs 5.85 lakh crore for agriculture, Rs 11.97 lakh crore for industries, Rs 19.52 lakh crore for services and Rs 9.29 lakh crore for public investment.
The Chief Minister underscored that these strategic investments are critical to achieving AP’s long-term economic goals, urging officials to take bold steps in attracting investors and driving development.