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AP registers 10.5 % growth rate in 2015-16

Hyderabad: Andhra Pradesh has registered 10.5% growth during 2015-16 (up to 31st December 2015). While the state’s growth in 2014-15 was 8.39% at constant prices, the dream of double-digit growth was realized in the first year itself. Andhra Pradesh has achieved 10.5% growth at constant prices during 2015-16, against India’s growth rate of 7.3%. West Godavari, Nellore, Chittoor and Srikakulam district performed well.

Inspired by the success achieved during 2015-16 and keeping in view of the potential resources, Chief Secretary S. P. Tucker introduced the two-day collectors’ conference here in Vijayawada. He added the state is aiming for 15% growth rate in 2016-17, while focusing on economic development and social sector development, leading to inclusive double-digit growth.

Finance Minister Yanamala Ramakrishnudu briefed about the state’s finances for 2015-16 Financial Year. He said the state government has shown a 2.1% increase in GSDP during 2015-16 FN. “Keeping a vigil on financial constraints, this year’s budget expenditure was more than budget allocation. The departments were able to mobilize funds judiciously, he said.

Pitching in, Deputy Chief Minister K.E. Krishna Murthy pointed out the laudable efforts of the Chief Minister in putting land records online and giving a push to the services sector. Such conferences ahead of the budget sessions will help the government manage finances efficiently in the state, he added.

The Chief Minister unveiled two books during the conference: Best Practices in the state in fisheries, interlinking of rivers, Neeru-Chetti, Energy and Vigilance sectors and Quarterly Performance and Assessment Report 2015-16. (INN)