State’s economy on high growth path: CM

White Paper released; ‘we are ahead of Telangana’

The PCI remained higher than the national average during the last four years, says Chief Minister N. Chandrababu Naidu

The State’s economy has grown from ₹ 4.64 lakh crore in 2013-14 to ₹ 8.04 lakh crore in 2017-18 (advance estimates), registering an average growth of 14.72%, according to Chief Minister N. Chandrababu Naidu.

Releasing a White Paper on ‘State finance and economic growth’ at Grievance hall near his residence at Undavalli near here on Tuesday, Mr. Naidu said that per capita income (PCI) registered a growth of 14.87% in 2017-18 compared to 8.4% in 2014-15.

The PCI remained higher than the national average during the last four years. The State could achieve a record double-digit economic growth even during times of adversity and ‘non-cooperation’ from the Central government.

Also, Andhra Pradesh had achieved faster growth rate than Telangana, where the eco-system had already been in place. In addition, AP inherited huge revenue deficit, he said.

The revenue expenditure has increased from ₹ 79,471 crore in 2014-15 to ₹1,21,214 crore in 2017-18 mainly due to shifting of capital and offices from Hyderabad to Amaravati, revision of wages of Anganwadi workers and others, capital infusion to SHGs, and loan waiver, etc.

On other hand, the capital expenditure increased to ₹9,720 crore in 2017-18 from ₹ 7,285 crore in 2013-14 and ₹5,938 crore in 2014-15, he said.

Mr. Naidu said that the expenditure incurred on village panchayats, and MNREGS should also be considered as capital expenditure as assets were being created.

The theory that more capital expenditure was a sign of growth needs to be viewed from people’s perspective.

Smartphones

People were looking for more welfare schemes and programmes. So, there has to be a perfect balance between welfare and wealth creation.

“ Else, poverty alleviation was not possible. Happiness, quality of life, highest growth of GSDP, and PCI were the targets of the State government, he said, adding “the government has released 10 white papers in the run-up to the elections.”

The government proposed to prepare vision documents for the State and districts for 2019-24 based on the feedback from the public on the white papers.

Mr. Naidu said that the government has plans to provide smartphones to every family in the State.

The common man can avail government services at the doorstep with the use of smartphones, he said.