Our Bureau Telangana’s Gross State Domestic Product (GSDP) has grown 15 per cent in the financial year ended March 31, 2019 at ₹8,66,875 crore as against ₹7,53,804 crore in the previous year.

“This is the highest ever growth of GSDP after the formation of Telangana State,” K Ramakrishna Rao, Principal Secretary, Finance, told newspersons at a press conference here on Tuesday.

He attributed the growth to the ‘robust’ capital expenditure of ₹47,038 crore made during the year. The total capital expenditure in the State from 2014-15 to 2018-19 was ₹1,64,519 crore.

Sectoral growth

The primary sector in the State economy comprising agriculture and allied sectors grew by 10.9 per cent while secondary (manufacturing) and tertiary (services) sectors showed 14.9 per cent and 15.5 per cent growth, respectively.

Telangana’s GSDP growth during 2017-18 as well as 2016-17 was 14.2 per cent.

When asked about the quantum of debt, the official said the debt to GSDP ratio was 22 per cent and lower than the permissible limit of 25 per cent as per the Fiscal Responsibility and Budget Managment (FRBM) Act. The borrowings of the government were ‘prudent’, he claimed, adding that it was long-term debt of 30 years and will be beneficial for the State as it is in line with the yield curve analysis of economic theory.

The State exchequer has adequate funds to meet all financial commitments, including Rhythu Bandhu.

“We will commence next phase of online disbursals as per the scheme in the last week of May and June,” he said. State’s own tax revenues increased by 14.5 per cent at ₹64,716 crore.

On the reports of shortage of funds and pending bills, the official said that as on date, bills worth only ₹3,474 crore was pending.

“There could be some delays due to elections. We will clear all pending bills in a month or so,” Rao said. There is no shortage of funds for distribution of social welfare scholarships and pensions to senior citizens, he added.

comment COMMENT NOW