The Hindu Business Line : Andhra Pradesh economic survey indicates buoyancy

The AP Finance Minister, Mr K. Rosaiah, releases the ‘Socio Economic Survey 2007-08’ report brought out by the State Department of Planning in Hyderabad on Monday. —

Our Bureau

Hyderabad, Feb. 18 The Andhra Pradesh Socio Economic Survey for 2007-08 indicates all-round development with various economic sectors indicating buoyancy.

The State’s average industrial sector growth has shot up 8.9 per cent during 2004-08 as against 5.4 per cent during 2000-04, the agriculture sector annual production has gone up to 161 tonnes (2004-08) from 138 tonnes (2000-04) and the economic growth was up 8.7 per cent during 2004-08 as against 6.17 per cent in 2000-04.

Releasing the economic survey on Monday, the State Finance Minister, Mr K. Rosaiah, said that the overall economic outcome reflects the policy framework of the State, which seeks to encourage development across various sectors of economy.

The buoyancy in the economy has been brought about through various tax measures and this has enabled the State to invest in various plan schemes. For the last three years, its annual plan expenditure is amongst highest in the country, he said.

Estimates

The Gross State Domestic Product for Andhra Pradesh in 2007-08 is estimated at 10.37 per cent and is the highest witnessed in the last two decades. The State economy is moving towards employability and the annual employment growth rate during 2004-08 is 3.7 per cent.

Mr. Rosaiah said the impact of economic growth is also reflecting on improved human development indices with more resources available and committed to sectors like health, education and nutrition. The State expects to achieve full literacy by 2015.

The per capita income in the State is estimated at Rs 33,970 in 2007-08 as against Rs 29,582 in 2006-07. Due to copious monsoon, the agricultural productivity is poised to go up with rice production expected to increase to 122.40 lakh tonnes this year up from 118.72 lakh tonnes last year. The groundnut output is likely to be higher too.

SEZ development

The Centre has given approvals to 71 special economic zones (SEZs) — 52 notified and 19 others have received formal or in-principle approvals for Andhra Pradesh. While 15 SEZs are being undertaken by the Andhra Pradesh Industrial Infrastructure Corporation Ltd (APIIC) and 23 are assisted by it, two of them are being developed by the urban development authority and 31 by private developers.

Traditionally, the Socio Economic Survey is released in the State on the budget day. However, due to technical reasons and the need to secure cabinet nod for some parts of the survey, it was released here on Monday after the budget on Saturday last.

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