Hyderabad, Feb 10 (Hydnow): Deputy Chief Minister Mallu Bhatti Vikramarka said in the fiscal year 2023-24, the Gross State domestic Product (GSDP) of Telangana showed an increase in current prices from Rs. 13,02,371 crores in 2022-23 to Rs. 14,49,708 crores.
However, the economic growth rate exhibited a downward trend, declining from 14.7 percent to 11.3 per cent during the same period.
The growth rate at the national level, however, showed a sharper decline, falling from 16.1 per cent to 8.9 per cent. Consequently, Telangana state growth rate was higher byt 2.4 percentage points compared to the India GDP growth rate.
Advertisements
The economic growth rate in Telangana, in constant prices, declined by 1.0 percentage point to 6.5% in 2023-24 from 7.5% in previous year. Whereas the increase in growth was marginal 0.1% at country level. This shows that the Telangana economy experienced a sharp decline in growth.
The differing growth rates at current and constant prices between Telangana and India suggest a higher rate of inflation in Telangana compared to the national average. This is further evidenced by the higher Consumer Price Index in Telangana, which stood at 6.65% in December 2023, placing the state fifth in the country in terms of inflation rate, compared to India’s 5.69%.
Sectoral growth rates
In the fiscal year 2023-24, Telangana’s economy demonstrated varied performances across its sub- sectors, influenced by a range of factors. The primary sector, particularly agriculture, experienced a notable decline. The Gross Value Added in the crops sub-sector decreased from Rs.49,059 crores
in 2022-23 to Rs.45,723 crores in 2023-24.
Advertisements
PER CAPITA INCOME
The Per Capita Income based on the present day prices is
expected to be Rs.3,43,297 in 2023-24, It was Rs.3,09,912 last
year but the growth rate has decreased (Hydnow)
Next Story:
-
BRS Celebrates 23rd Foundation Day Across Telangana
BRS celebrated its 23rd Foundation Day across the State, today, the party, founded as Telangana Rashtra Samithi by K.Chandrashekhar Rao and others who were strong sympathisers for the separate Telangana state in the year 2001, was renamed as BRS by transforming into a national party in 2022.
-
Youth Booked For Women Harassment In Kacheguda
A youth was booked for allegedly harassing a woman on a popular social networking platform on the pretext of love in Kacheguda on Saturday.
-
CM Revanth Meets CPM Leaders
Ahead of the Lok Sabha elections, Chief Minister Revanth Reddy sought the support of the CPM State unit for the Congress party in Bhongir and other parliamentary constituencies in the state.
-
Sameer Waliullah Calls on People to Vote Thoughtfully in Lok Sabha Elections 2024
Hyderabad DCC President Mohammed Sameer Waliullah called on the people of Hyderabad to vote thoughtfully in the upcoming general elections.
-
ISRO Employee Held For Job Fraud at Kacheguda
An ISRO employee was arrested on charges of cheating a job aspirant to the tune of Rs. 20 lakhs promising a job in the organization at Kacheguda on Friday.
Now you can get the latest stories from Hydnow every day. Click the link to subscribe. Click to follow Hydnow’s Facebook page and Twitter and Instagram