Telangana 4th largest contributor to economy: RBI
Hyderabad: Just seven years into existence, Telangana, rising from being a parched poverty-ridden region, has emerged as the fourth largest contributor State to the country’s economy, says the Reserve Bank of India’s Handbook of Statistics on the Indian Economy 2020-21. The report said the Net State Value Added (NSVA) by Telangana at current prices to […]
Hyderabad: Just seven years into existence, Telangana, rising from being a parched poverty-ridden region, has emerged as the fourth largest contributor State to the country’s economy, says the Reserve Bank of India’s Handbook of Statistics on the Indian Economy 2020-21.
The report said the Net State Value Added (NSVA) by Telangana at current prices to the country increased from Rs 4,16,930 crore at the time of Statehood in 2014-15 to Rs 8,10,503 crore in 2020-21, a two-fold increase that is commendable given the fact that it was achieved in a short span of just seven years.
Telangana is the 11th largest State in terms of geographical area and 12th in terms of population in the country. But it is placed in the fourth position when it comes to contributing to the economy of the country. The contribution of Telangana in several areas particularly in the fields of agriculture, forestry and fishing, manufacturing, mining and quarrying, construction, financial services, real estate, transport, communication and services related to broadcasting, hotels and restaurants, among other sectors.
This aside, Telangana is also in the fourth place in per capita net state domestic product. The State’s performance was far better than the national average. Only Tamil Nadu, Karnataka and West Bengal are ahead of Telangana when it comes to NSVA. The State’s NSVA in agriculture was to the tune of over 1.76 lakh crore followed by real estate, ownership of dwelling and professional services (Rs 1.59 lakh crore), trade, repairs, hotels and restaurants (Rs 1.32 lakh crore).
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