Telangana shines in economic development over other States
Hyderabad: Telangana has not only outperformed itself, but has also given other State a run for their money in economic development, yet again. The State registered Gross State Domestic Product (GSDP) of Rs 11,54,860 crore in 2021-22, recording a whopping 19.1 per cent growth over the previous financial year at current prices as on February, […]
Hyderabad: Telangana has not only outperformed itself, but has also given other State a run for their money in economic development, yet again.
The State registered Gross State Domestic Product (GSDP) of Rs 11,54,860 crore in 2021-22, recording a whopping 19.1 per cent growth over the previous financial year at current prices as on February, 2022. In the process, the State has also ensured a per capita income of Rs 2,78,833 that is 18.78 per cent higher over the previous fiscal at the end of February, 2022.
Not surprisingly, the per capita income of Telangana increased by 125 per cent in the past seven year – from Rs 1,24,104 in 2014-15 to Rs 2,78,833 in 2021-22, not to mention the 130 per cent growth in GSDP increased from Rs 5 lakh crore in 2014-15 to Rs 11.54 lakh crore in 2021-22.
As per the second advance estimates of the national income for 2021-22 and the quarterly estimates of gross domestic product of 2021-22 furnished by the Ministry of Statistics and Programme
Implementation (MOSPI) on Monday, Telangana secured top position among major States in per capita income. Other major States like Tamil Nadu and Kerala recorded per capita income of Rs 2,56,935 and Rs 2,12,059 respectively, followed by Madhya Pradesh at Rs 1,24,685 and Uttar Pradesh Rs 71,472 during the current financial year.
In terms of GSDP growth over the previous year, Telangana lost the top position to Madhya Pradesh by a fraction. While Madhya Pradesh recorded GSDP growth rate of 19.74 per cent over previous year, Telangana achieved 19.1 per cent growth.
However, Telangana was placed fourth in terms of GSDP at current prices with Tamil Nadu securing the top slot at Rs 21.79 lakh crore for the current financial year, followed by Uttar Pradesh at Rs 19.1 lakh crore and Madhya Pradesh with Rs 11.69 lakh crore. Telangana registered GSDP of Rs 11.54 lakh crore during the current fiscal.
Several Ministers and the elected representatives shared the State’s performance on social media platforms, terming it as an outcome of Chief Minister K Chandrashekhar Rao’s leadership. IT and Industries Minister KT Rama Rao stated that the numbers speak for themselves and Telangana’s achievement was despite massive hurdles like bifurcation blues, demonetisation, Corona pandemic besides zero support from the union government. “This is the growth trajectory of the youngest State of India. We are not just vibrant, we are Triumphant Telangana,” he tweeted.
This is the growth trajectory of the youngest state of India
This despite massive hurdles such as Bifurcation Blues, Demonetisation, Corona Pandemic & Zero support from Govt of India#ThankYouKCR Garu for your amazing leadership #JaiTelangana
— KTR (@KTRTRS) March 1, 2022
Finance Minister T Harish Rao said the latest statistics released by the Central government are a testimony to the fact that Telangana was setting new milestones by becoming the best performing State in the country under the leadership of Chief Minister K Chandrashekhar Rao. He said the Chief Minister was constantly striving for the development of the State and the welfare of the people despite facing the political conspiracies.
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