Andhra Pradesh has registered a growth rate of 11.37% during the first half of the current fiscal compared to the national growth rate of 5.8%. The growth rate, however, has fallen compared to 12.23% in the first half of 2016-17.
The State has registered highest growth rate in the agriculture and allied sectors with 25.60% as against the national growth rate of 2%. Industry and services sectors also registered highest growth rate of 7.43% and 8.38% respectively. These growth rates are higher than the national growth rates of 3.6% and 7.9% respectively.
All the three sectors have shown a fall in growth during Q2 compared to Q1.
The agriculture and allied sectors’ growth rate slipped to 24.05% in Q2 from 27.6% in Q1. Similarly, the industry sector has shown a growth rate of 6.80% in Q2 as against 8.05% in Q1. The services sector registered a growth rate of only 8.38% in Q2 as against 8.67% in Q1.
The agriculture sector has registered 25.60% growth during the first half compared to 24.44% during the corresponding period in 2016-17. There is a fall in the industry and services sectors’ growth compared to the last fiscal.
A growth rate of 9.98% had been registered in the industry sector during the first half of 2016-17, while it is 7.43% during the first half of the current fiscal. The services sector too registered a fall from 9.57% in 2016-17 to 8.38% in 2017-18.
The growth in these sectors, however, is high compared to the national growth. Also, there is a fall in the national growth in the agriculture and allied sectors and services sector.
‘Stable govt. needed’
Chief Minister N. Chandrababu Naidu on Thursday said the government would continue to focus on 40 growth engines to sustain and further the growth rate.
The objective was to achieve 80% satisfaction level of people with 80%political ownership. A sustainable growth rate of 10% to 15% for the next 15 to 20 years was required for laying a strong foundation for development of the State. “To achieve it, a stable government is necessary for the next two decades,” he said.
The highest growth in the agriculture and allied sectors was achieved despite meagre rainfall. It was possible due to better water management, Mr. Naidu said.
