The State government is expecting a significant growth rate in the construction industry this year. Housing and developmental programmes being taken up the government, and increase in housing activity in the private sector are likely to propel the growth. The government estimated that the growth rate in the industrial sector will be between 11% and 12%.
Finance Minister Yanamala Ramakrishnudu held a review meeting ‘Industries and allied sectors, Gross State Domestic Product (GSDP)’ at the Secretariat on Friday.
Mr. Ramakrishnudu said rural housing programmes have also picked up. During last three months, the 52,000 houses had been completed. Though industry sector was facing downward trend across the globe, the scenario was optimistic in Andhra Pradesh. Investments were flowing into A.P, due to the government policies and investor meets organised in the State, he said, adding, the industrial growth would be 11% to 12%.
New mining policy
The government was contemplating preparing new policy for mines and minerals. It would boost the production in those sectors. Also, the incentives being given to micro, small and medium enterprises (MSME) would contribute to the development of the MSME sector, he said.
Mr. Ramakrishnudu said that the government policy was that locals should be employed in the textiles sector. The industries that employ more than 100 people were also started in good number. While there were 729 in 2016-17, it is 836 industries now. The garment industry generated employment to 11,000 people this year, he added.
