Within just seven years of coming into existence, Telangana has held its grounds and have succeeded through them all, even during the Covid 19 crisis. As per the latest reports, Telangana’s GSDP has increased by an impressive 5 percent in 2020-21.
Telangana GSDP Shows Constant Increase
As per the data released by the Union Ministry of Statistics and Program Implementation (MoSPI), Telangana’s GSDP against the national GDP rose from 4.1 per cent in 2014-15 to 4.4 percent in 2017-18. And despite the effects of the pandemic and the lockdown, the GSDP has increased to 5 percent.
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The increased GSDP of Telangana has been thanks to the State’s performance in the primary sector which includes agriculture, poultry and dairy. The primary sector recorded a rise to 17.7 per cent in 2020-21.
Meanwhile, the secondary and the services sectors rose to 5.2 percent and 1.9 percent (respectively). The Finance Department officials said that the rising growth in Telangana’s economy comes from the State government’s efforts in stimulating the rural economy.
An officer recently said that Telangana is at the verge of becoming the Rice Bowl of India. With the new irrigation projects being implemented the growth of rice has shown incredible results. Some contribute this to the lockdown period and lack of jobs. Since people were left unemployed, they went back to the primary sectors of earning money.
Telangana Showed Resilience During The Lockdown Period
While the economy across the country was falling down during the Lockdown period, Telangana showed sharp resilience against the same. The unemployment rate across the country was shooting the bars but Telangana showed a better performance. They unemployment rate improved from 8.3 percent to 7 percent.
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However, the national unemployment rate shot up to 23.5 percent in April last year. But in Telangana the unemployment rate grew slowly and peaked at 14.7 percent.
