Telangana

GSDP growth rate lowest in a decade

The growth rate of Gross State Domestic Product of Telangana was the lowest this financial year at 1.35 per cent on current prices and minus 1.26 per cent on constant prices for nearly a decade with 2011-12 as the base year, thanks to the pandemic year.

This was disclosed in a report of the Ministry of Statistics and Programmes Implementation based on inputs from Directorates of Economics and Statistics of various State governments.

The report also highlighted that the growth rate of Net State Domestic Product (NSDP) this year was the lowest at 1.62 per cent on current prices and minus 1.18 per cent on constant prices. The growth of per capita NSDP at current prices was 0.61 per cent and minus 2.15 per cent on constant prices.

The GSDP of the State at current prices was fixed at ₹ 9.78 lakh crore and ₹ 6.43 lakh crore at constant prices. Similarly, the NSDP at current prices was ₹ 8.86 lakh crore and ₹ 5.75 lakh crore at constant prices. The per capita NSDP at current prices was ₹ 2.27 lakh and ₹ 1.47 lakh at constant prices.

The growth rate of GSDP at current prices ranged from 11.73 per cent in 2012-13 to 13.49 per cent in 2019-20. The same was a positive growth rate ranging from 2.97 per cent to 7.91 per cent during the period until the sudden slump into negative growth this year. The rate was more or less the same of NSDP. The per capita NSDP growth in current prices ranged from ₹ 91,121 to ₹ 2.25 lakh and a mere ₹ 2,000 this year. At constant prices too, the growth was ₹ 91,121 to ₹ 1.50 lakh and then dipping to ₹ 1.47 lakh this year.

The Director of Economics and Statistics G. Dayanandam told The Hindu that the economy of the State was pushed up by IT, agriculture, fisheries, livestock and forestry. Otherwise, it was pulled back by manufacturing sector, mining, power, all services, hotels, trade and transport.

Despite a low growth rate of 1.35 per cent this year, the GSDP at current prices increased from 9.65 lakh crore last year to ₹ 9.78 lakh crore but dropped from ₹ 1.50 lakh crore to ₹ 1.47 lakh crore. The NSDP at current prices went up from ₹ 8.72 lakh crore to ₹ 8.86 lakh crore but dropped from ₹1.50 lakh crore to 1.47 lakh crore.

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Printable version | Apr 22, 2021 8:57:52 PM | https://www.thehindu.com/news/national/telangana/gsdp-growth-rate-lowest-in-a-decade/article33983273.ece

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