Finance Minister T Harish Rao today informed the council that GST collections had effects on Covid-19.
During question hour the minister informed about primary estimations of 2020-21. To a query by Navin Kumar, Harish Rao said that the GSDP growth came down to 2.4 percent now from the previous 11.3 percent.
They are prepared based on GSTP revenues from the agriculture, science, and Technology sectors in previous years. The estimations are as per center statistics, plans and programs and GSTP. The agriculture sector saw 2.5 percent and the IT sector saw 13.5 percent growth, he claimed.
ALSO READ: KCR Completed Irrigation Projects Ignored by Past Govts : Harish Rao
The Minister attributed the growth rate in GSDP to various flagship programs and welfare schemes in the state. They are financial assistance to farmers through rythu bandhu, 24 power to farming, fish to fishermen community, sheep to Yadavs and lakes revival, he said.
The government built the Kaleshwaram project and revived the lakes and water bodies that helped minor irrigation in a big way and increased the income of the rural population.
The minister said that the IT sector, hassle-free permissions, TSiPASS, land bank, pharma city, plastic park, textile park, and others are part of the development that push GSDP.
He said that GSDP sees 24.1 percent contribution from the primary sector and 59.4 percent through the service sector. State GSDP now increased to 5 percent from the 4.06 percent when the state formed. State occupies 13th place in land mass, it occupies sixth place in national wealth production.
SOURCE-NSS
