Telangana Affairs
Statehood spurs Telangana GSDP, up Rs 6.7 lakh crore
Comparative figures of the Gross State Domestic Product (GSDP) of Telangana before and after formation depict a dramatic growth where the state rapidly added 6.7 lakh crore worth GSDP in the last eight years (from 2014-15 to 2020-21).
In contrast, only 2.67 lakh crore worth GSDP was accumulated in the eight years preceding the formation of the state (from 2006-07 to 2013-14). Statistics of Telangana districts in combined Andhra Pradesh revealed, for the first time, that the state had GSDP worth 1.26 lakh crore in 2006-07 which escalated to 3.91 lakh in 2013-14 (the fiscal year before formation).
In a Parliament reply, it was said that Telangana (in 2021-22) possesses 11 lakh crore worth GSDP, progressing from 4.30 lakh crore worth of GSDP from the year of formation (2014-15).
The figures are intriguing given that chief minister K Chandrasekhar Rao during his recent public meeting in Mahbubnagar claimed that Telangana had lost 3 lakh crore GSDP in the last eight years due to the inefficiency of the central government. According to him, the state would have attained 14 lakh crore GSDP had the Centre chipped in.
Telanganas GSDP growth rate was projected at 10.88% in the last fiscal year (2021-22), the second highest, after 2014. Post formation, Telangana had the highest GSDP growth rate in the 2015-16 fiscal year at 11.58%, a massive push from the initial GSDP growth rate of just 6.76% in 2014-15.
The plan is to achieve this with a compound annual growth rate (CAGR) of 14.5% as against the actual GSDP growth rate of Gujarat at 12.3% in the last decade.
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