The per capita income of Andhra Pradesh, an indicator of standard of living of people, at current prices has been estimated at Rs 71,540 for 2011-12, registering a growth of 13.71 per cent over the previous financial year in the State and 14.3 per cent more over all India's Rs 60,972.
According to the Socio Economic Survey 2011-12 released in the State Assembly today, the sectoral composition of the Gross State Domestic Product (GSDP) during 2004-05 through to 2011-12 (advanced estimates) shows that the services sector contributes about 55.1 per cent, the industry 25.7 per cent and agriculture 19.2 per cent.
The contribution of the agriculture sector has come down from 25.1 per cent in 2004-05 and the services sector has grown from 50.6 per cent to 55.1 per cent.
The Andhra Pradesh State economy on an average grew by 8.33 per cent during the XIth Plan period, surpassing the all-India GDP growth of 7.94 per cent for the same period. The State economy has grown by about 6.81 per cent during the financial year thus far and inching towards 6.88 per cent.
In the backdrop of a buoyant performance during the XIth Plan (2007-12), the State is targeting a growth rate of 10 per cent in the XIIth Plan period, with agriculture growth at 6 per cent, industry (10.5 per cent) and services sector (11.5 per cent). The overall strategy is to look beyond growth and focus on employment generation.
The State is planning a flexi-fund approach under some of the flagship programmes to bridge infrastructure gaps. The Plan Budget for 2011-12 was Rs 42,915.37 crore and the Planning Commission, confident of State's capability to mobile required funds had approved the annual plan of Rs 43,000 crore, Rs 84 crore more than the budgeted outlay.
The Government's commitment towards twin objectives of development and welfare have been meticulously linked to the growth agenda. Irrigation continues to garner the highest share with about 31 per cent of the plan going for it, and rural development, welfare, urban development, education and transport receiving high allocations.