AP Socio Economic Survey 2022-23 Highlights: Records 16.22% Growth Rate

Sakshi Education

AP CM YS Jagan released AP Economic Survey 2022-23 on March 15th. Check Highlights here

Andhra Pradesh has posted a stunning 16.22% growth rate during 2022-23. The state planning department estimated that GSDP for the year 2022-23 (advanced estimates) is estimated at Rs 13,17,728 crore as against Rs 11,33,837 crore for the 2021-22 final revised estimates (FRE). It will be a net addition of Rs 1,83,891 crore to the state economy.

AP Economic Survey 2022-23 Highlights

Chief minister YS Jagan Mohan Reddy released the AP socio-economic survey 2022-23.

Agriculture and Allied sectors (GVA)

In agriculture and allied sectors reported 13.18% growth
Agriculture sector alone reported 20.72 percent growth
Horticulture sector achieved 12.58% growth rate.
Livestock sector reported 7.32% growth rate
Fisheries reported 19.41% of GVA.

Check AP Budget 2023-24 Highlights

Industry Sectors (GVA)

Industry sector witnessed a GVA of 16.36%
Mining and quarrying reported 15.81%
Manufacturing sector reported 11.81%.
Electricity, gas and other sectors at 30.96% and
construction sector at 16.94%.
Services sector achieved 18.91%
Trade and hotels sector reported 28.42%.
Railways achieved 17.82%.
Transport by other means reported a GVA of 21.64%
Real estate sector achieved 13.14%.

Also Read: Key Features of The Union Budget 2023-24

Growth Rate:

According to the State Economic Survey, the state posted a record growth of 7.02% at constant prices against the country's growth of 7.0% during 2020-21.

Agriculture and allied sectors reported 4.54% growth rate
Agriculture sector alone at 10.72%
Horticulture sector reported 3.03% growth rate
Livestock is around 2.89%
Fisheries sector reported 4.87%.
Industry sector achieved 5.66%
Mining and quarrying reported 10.81%.
Manufacturing sector achieved 4.82% growth
Electricity, gas sectors reported 6.53%.
Construction returned with 4.71% growth
Services sector 10.05
Trade hotels reported a 16.64% growth rate.

The Per Capita Income of Andhra Pradesh 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 in a year.