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The State Gross Domestic Product of Telangana has grown at 9.2 per cent at constant prices during 2015-16 to Rs 4,68,656 crore as against 8.8 per cent during 2014-15.
This was higher than the national average of 7.57 per cent during the same period.
The GSDP, which is the value of total goods and services produced in the State during the year under review, grew by 11.7 per cent at the current prices compared to 13.4 per cent growth in the year-ago period, according to the Socio Economic Outlook 2016 which was released along with the budget 2016 in the Assembly here on Monday.
A comparison of the State’s growth with national growth reveals that in 2012-13 (in the erstwhile undivided Andhra Pradesh), Telangana economy grew at 2.41 per cent which was much lower than all India growth rate of 5.62 per cent.
"However, since 2013-14, the growth rate of Telangana has picked up and registered higher growth than all India,’’ the survey said.
IMBALANCE
Even though there is growth, there was no balanced growth across the sectors of the state economy. The growth came only from the secondary sector (industries) and tertiary sector (services) while the primary sector has been steadily declining since 2012-13 to 2015-16 mainly due to negative growth in the production of crops.
Things, however, seem better in industries and services which registered growth of 8.6 per cent and 11 per cent respectively.
UNEMPLOYMENT
The unemployment figures are worrisome. Among the age group of 15-29 years, unemployment rate is estimated to be 7.7 per cent under at state level (3.8 pc in rural areas and 17.2 per cent in the urban areas). "This indicates that youth unemployment is one of the major concerns at the present juncture, especially in urban areas.
In terms of nature of employment, 45.8 per cent of the total workforce is reported to be self-employed, 35.4 per cent as casual labour and about 16.1 per cent as wage/salaried earners while 2.7 per cent are contract workers.
An area-wise analysis shows that largest number of work force (49 per cent) is self-employed in rural areas where as majority of the workforce in urban areas is working as wage salaries.
PER CAPITA INCOME
The district wise per capital income (PCI) arrived on the basis of analysis of 2014-15 data at current prices reveal that Hyderabad had the highest PCI at Rs 2.94 lakh followed by Rangareddy and Medak districts. Adilabad had the lowest per capita income at Rs 76,921 followed by Nizamabad, Mahbubnagar and Warangal.
The per capita income of the State for the year 2014-15 was Rs 1.29 lakh.
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