The Gross State Domestic Product (GSDP) of Andhra Pradesh in the current financial year is expected to grow over 12 per cent to Rs.5,20,300 crore.
Provisional estimates (at current prices) based on advanced estimates, indicate it will grow 12.3 per cent over the Rs.4,64,183 crore in 2013-14, Finance Minister Yanamala Ramakrishnudu said on Thursday.
Mr. Ramakrishnudu, in his 2015-16 Budget speech, said at the (constant 2014-05) inflation adjusted prices, the GSDP is estimated at Rs. 2,64,521 crore in the current fiscal. This translates into a growth of 7.21 per cent compared to Rs.2,46,724 crore in 2013-14.
At constant prices, the agriculture, industry and services sectors show a growth of 5.90, 5.25 and 8.48 per cent respectively during 2014-15.
On per capita income at current prices for 2014-15, Finance Minister said as per provisional estimates it is expected to be Rs.90,517. Compared to Rs.81,397 in 2013-14, this will be a growth of 11.21 per cent.
The per capita income at constant (2004-05) for current fiscal is estimated at Rs.44,831 as against Rs. 42,170 in 2013-14, a growth of 6.31 per cent, he said.
Public debt
As regards public debt, he said there was an increase of Rs. 8,000 crore in the revised estimates for 2014-15. This is under the public debt transactions and an indication of the borrowings of the State.
Interestingly, the budget also projects a net decrease of Rs.1,106 crore in 2015-16 over the previous fiscal’s revised estimates under the same category.
