Telangana’s agriculture sector growing faster than sectors

Hyderabad: The contribution of the agricultural sector to Telangana’s economy is exceeding the rest and on par with the real estate sector, suggests data from the Statistics Department of Telangana.

The contribution of agriculture to the improvement of the state’s economy is worth highlighting, as it has led to a growth of 142% in the Gross State Value Added (GSVA). As compared to Rs 76,123 crore in 2014-15, it currently stands at Rs 1,84,321 crore.

The Statistics Department of Telangana suggests that the gross value of agriculture and allied sectors is Rs 1,84,321 crore in 2020-21, according to provisional estimates in the book “Telangana’s Journey: Trailblazing its Way to Success”, which was launched by Telangana State Planning Board vice-chairman B Vinod Kumar.

The state of Telangana ranked third in terms of percentage increase in the growth rate of Gross State Domestic Product (GSDP), which registered a 2.4 percent growth in 2020-21, reported The New Indian Express. There has been a constant increase in the contribution from the Agri sector over the past few years. In terms of GSDP, the sector has generated Rs 9,80,407 crore and grew at 2.4 percent.

It is said that the economic output at the national level fell by 3 percent during this time. Telangana also secured the third-highest percentage increase in GSDP value at current prices between 2014-15 and 2020-21. This year the state was ranked sixth among the the highest contributors to the national GDP. The state’s economy continues to be propelled by agriculture, as the crops contribute Rs 80,574 crore. It has also led to an increase of 1.84 and 1.77 percent.

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