Telangana reports 2nd highest GSDP growth rate in 2021-22
New Delhi: Telangana, which is led by Chief Minister K Chandrashekar Rao, has created several milestones since its formation on June 2, 2014. In a recent development, the state has reported the second-highest growth rate of Gross State Domestic Product (GSDP) in 2021-22 at current prices (19.1 per cent) out of the 17 states.
The astounding performance of Telangana was declared by the Ministry of Statistics and Programme Implementation (MoSPI) in its published data.
The data further stated that Telangana had the third-highest Compound Annual Growth Rate (CAGR) of GSDP (11.4 per cent) out of the 17 states in the last 5 years (2017-18 to 2021-22), which was higher than India's (8.5 per cent) by 2.9 percentage points in the last 5 years. According to an official communiqué, Telangana had the highest CAGR of GSDP at current prices among the Southern states in the last 5 years, while the state's GSDP at current prices increased by 128.3 per cent from 2014-15 to 2021-22, in comparison to India's GDP increase of by 89.6 per cent in the same period, which is 38.7 percentage points less than Telangana's growth. It was the 5th highest increase among the 17 states.
As of 2021-22, Telangana was the 7th highest contributor to GDP at current prices out of the 17 states and the state's growth rate of GSDP has been higher than that of India's for every year from 2014-15 to 2020-21, it said. In terms of per capita income (PCI), Telangana has the third highest in the country at Rs 2,78,833 out of the 17 states, the MoSPI data said, adding that the state ranked second amongst the 17 states with a PCI growth rate of 18.8 per cent. Only two small states -- Goa and Sikkim -- have a higher per capita income than that of Telangana for 2021-22 out of the 17 states.
The CAGR of PCI at current prices in Telangana in the last 5 years (11.7 per cent) was the highest among the 17 states, including all southern states, it said, adding that the state's PCI increased by 124.7 per cent, 51.7 percent points more than India's increase of 72.9 per cent from 2014-15 to 2021-22.
With Rs 1,24,104 per capita income in 2014-15, Telangana's PCI was higher than the national PCI by Rs 37,457, and the gap increased to Rs 1,28,985 in 2021-22, it said, adding that the state's CAGR of PCI (11.7 per cent) was 4.9 percentage points higher than India's at 6.8 per cent in the last 5 years.
On the basis of the CAGR values in the last 5 years, the state's PCI would be doubled in 6-7 years, while the country's PCI is expected to get doubled in the next 10-11 years.
The current-price growth rate of the agriculture and allied sector increased by 9.8 percentage points from 2014-15 to 2021-22, while the CAGR of the agriculture and allied sector in the last 5 years (2017-18 to 2021-22) in the state is Telangana is at 17 per cent, which is 8.2 percentage points higher than India's 8.8 per cent.
The gross value added by the 'Livestock' sub-sector increased by 222.4 pc from 2014-15 to 2021-22, and that of the 'crops' and 'fishing and aquaculture sub-sectors grew by over 100 pc in this period.
