AP Apr-Sept GDP growth of 7% better than the national average of 5.5%

Andhra pradesh Apr-Sept 2014 GDPAndhra Pradesh’s  economy had shown growth rate of 6.94 per cent during the first half of the current fiscal as against the national average of 5.52 per cent. 

The State registered impressive growth in

  • live stock at 23.15 per cent
  • banking and insurance (15.64 per cent),
  • real estate and ownership dwelling (15.28 per cent),
  • electricity, gas and water supply (9.47 per cent),
  • mining and quarrying (7.92 per cent) and
  • public administration (6.91 per cent).

Communication, transport by other means and other services registered growth rates of 6.49 per cent, 6.18 per cent and 5.93 per cent respectively.

  1. The State achieved a significant 11.32 per cent growth in the agriculture sector as against the 3.55 per cent witnessed at the national level. The agriculture GSDP increased to Rs. 16,891 crore during the first half as against the Rs. 15,173 crore during the corresponding period previous fiscal. Contribution of agriculture and allied sectors during the second quarter (at constant prices) was estimated at Rs. 8,134 crore against the Rs. 7,715 crore of corresponding quarter last year, marking 5.53 per cent increase. Agriculture proper, forestry & logging, fishing and livestock registered positive growth rates while fishing sector saw a negative growth rate of 10.73 per cent.
  2. On the Industry front, the contribution was estimated at Rs. 12,341 crore as against Rs. 12,051 crore of the same period previous fiscal, with a growth of 2.4 per cent shade above the national average of 2.15 per cent.
  3. The second quarter GSDP of service sector was estimated at Rs. 29,670 crore against Rs. 27,337 crore of the previous year, marking 8.53 per cent increase. 

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