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.
