The Telangana Government has said that it has succeeded in reversing the deceleration in the State economy by registering a growth rate of 5.3 per cent in the Gross State Domestic Product (GSDP) in 2014-15. The industrial growth rate for the year was put at 4.1 per cent.

The Economic Survey, titled Reinventing Telangana – the First Steps’, has said that the growth rate in 2013-14 was 4.8 per cent at constant prices of 2004-05.

“This marks a reversal of the declining trend registered during the past three years. Though agricultural growth suffered a decline during the last year due to adverse seasonal conditions, allied sectors like livestock, forestry and fisheries sectors have shown positive growth rates of 6.5 per cent, 2.7 per cent and 11.4 per cent respectively,” the document said.

Rated by a revenue surplus State by the 14{+t}{+h} Finance Commission, Telangana registered a GSDP of Rs 4 lakh crore mark, pushing the per capita income to Rs 1.04 lakh in 2014-15 from Rs 95,361 in 2013-14, far above the national average of Rs 88,533.

Agri sector suffers

Though the economy grew by 5.3 per cent strongly backed by a growth of 9.7 per cent in the Services sector, the performance of agriculture sector proves to be a cause of serious concern. The sector declined by 21.3 per cent. Because of the positive trends in allied sectors such as livestock and fisheries, the deceleration in agricultural and allied sectors as a whole was put at 10.3 per cent.

The Economic Survey attributed to the crisis to adverse seasonal conditions that hit the two successive agricultural seasons last year.

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