Telangana has been steadily growing since its formation, despite the injustice meted out to it in the erstwhile Andhra Pradesh. According to the most recent data, from 2005-06 to 2021-22, the state recorded an average Gross State Domestic Product (GSDP) growth rate of 8.6 percent, which is the third highest in the country.
Agricultural economists have compiled a report on the performance of different states in the country based on data provided by the Ministry of Statistics and Programme Implementation (MoSPI) between 2005-06 and 2021-22. A few financial publications recently published something similar.
As a result, Telangana’s GSDP’s average annual growth rate (AAGR) was 8.6 percent. Gujarat led the way with an 8.9 percent AAGR in GSDP, followed by Uttarakhand with 8.7 percent and Telangana was ranked third.
Given that Uttarakhand is a very small state in terms of economy, size, and contribution to the national economy, Telangana ranks second only to Gujarat.
The enormous growth in GSDP is primarily attributed to Telangana’s agricultural GSDP, which ranks third with an average of 6.4 percent during the period. While Madhya Pradesh has the highest AAGR in agriculture and allied sectors at 7.3 percent, Andhra Pradesh is second at 6.6 percent, followed by Jharkhand and Telangana at 6.4 percent.
Telangana has consistently recorded a GSDP growth rate of 9.5 percent in 2018-19, 8.2 percent in 2019-20, 2.4 percent in 2020-21, 19.1 percent in 2021-22, and 15.6 percent in 2022-23 since its formation. “If the AAGR of Telangana’s GSDP is taken into consideration from 2015-16, the State could have easily assumed the top position among other States. Through consistent growth, the State government is ensuring that Telangana was compensated for the grave injustice meted out in erstwhile Andhra Pradesh,” said an official in the Finance department.
According to data presented by the Centre in Parliament, Telangana’s GSDP has more than doubled to nearly Rs 13.27 lakh crore in the last eight and a half years. When Telangana State was formed in the financial year 2013-14, the State’s GSDP was Rs 5.05 lakh crore, which increased to Rs 13.27 lakh crore in 2022-23.
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