'AP economy grew at 8.33 % during 11th 5-yr plan'

Despite the slowdown in agriculture, the economy of Andhra Pradesh grew at an impressive growth rate of 8.33% on the average, during the 11th Five Year Plan period, surpassing the country's GDP growth of 7.94% for the same period.

Despite a deficit rainfall and unfavourable seasonal conditions prevailed in the state, resulting in slowdown in the economy, especially in the agriculture sector, the state economy has grown at a decent pace during 2011-12, registering a growth of 6.81%.

The country's corresponding growth rate is 6.88%, official sources said today. The Gross State Domestic Product (GSDP) at current prices as per Advance Estimates for 2011-12 is Rs 6.76 lakh crore as against Rs 5.89 lakh crore during 2010-11, which is an increase of 14.82%.

The Per Capita Income of AP at current prices is estimated at Rs 71,540 for 2011-12 (advance estimates) registering a growth of 13.71% over the previous year, while it is Rs 60,972 for All India with 14.3% growth. In view of the decent overall growth performance during the 11th Plan (2007-12) period, the state government is targeting a growth rate of 10% in the 12th Five Year Plan period, with respective sectoral targets as six% for agriculture, 10.5% for industry and 11.5% for services sector.

The overall strategy would be to look beyond growth and focus on employment generation to the millions of youth in the state, the sources said. With an eye on the ambitious growth targets for the 12th Plan, the state government has identified nine departments- agriculture, horticulture, animal husbandry, fisheries, industries, IT and communications, tourism, minority welfare and youth welfare -- that would propel growth.