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The Andhra Pradesh economy registered 16.22 per cent growth in 2022-23, Advance Estimates (AE) in the state’s new economic survey show.
The economic survey for 2022-23 was released by Chief Minister Y S Jagan Mohan Reddy in the State Assembly in Amaravati on Wednesday. Gross State Domestic Product (GSDP) at current prices for 2022-23 (AE) is estimated at Rs 13,17,728 crore, as against Rs 11,33,837 crore for 2021-22, showing a net addition of Rs 1,83,891 crore to the state economy.
Gross Value Addition (GVA) in agriculture and allied sectors was 13.18 per cent, while the industries registered 16.36 per cent growth. Growth in the services sector was pegged at 18.91 per cent.
The state’s per capita income at current prices increased to Rs 2,19,518 in 2022-23, as against Rs 1,92,587 in 2021-22, a jump of Rs 26,931. The PCI Growth rate (Current Prices) in 2021-22 stood at 13.98 per cent.
Also read: AP banks achieve 99 per cent of priority sector lending target for FY23
The expenditure on Navaratnalau, the flagship welfare schemes of the state government, stood at Rs 1.97 lakh crore. “Navaratnalu and other schemes are mapped with Sustainable Development Goals (SDGs) and the Budget is now SDG aligned,’‘ the report said.
Andhra Pradesh achieved the fourth rank in the SDG India Report-2020-21, the first rank in SDG-7 (affordable energy), and second rank in Goal-14 (Life below water).
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