Addressing the Assembly, Vikramarka highlighted the State’s growth across multiple fronts, including GSDP, per capita income, and various national parameters in the in BRS’s rule.
Published Date – 25 July 2024, 08:46 PM
Deputy Chief Minister and Finance Minister Mallu Bhatti Vikramarka.
Hyderabad: Despite his efforts to criticise the previous BRS government, Deputy Chief Minister and Finance Minister Mallu Bhatti Vikramarka could not help but acknowledge the significant achievements of Telangana during the BRS regime in his budget speech.
Addressing the Assembly, Vikramarka highlighted the State’s growth across multiple fronts, including GSDP, per capita income, and various national parameters.
The global economy recorded a growth rate of 3.2 per cent during 2023-24, with India achieving a 7.6 per cent growth rate.
Telangana’s growth rate stood at 7.4 per cent, slightly below the national average. The Gross State Domestic Product (GSDP) at current prices reached Rs 14,63,963 crore in 2023-24, marking an 11.9 per cent increase from the previous year, compared to the national growth rate of 9.1 per cent.
Telangana’s per capita income in 2023-24 was Rs.3,47,229, significantly higher than the national average of Rs.1,83,236.
However, Bhatti Vikramarka pointed out inequalities persisting among districts. For instance, Ranga Reddy district’s per capita income was Rs.9,46,862, while Vikarabad’s was Rs.1,80,241. He pledged that the government would take measures to bridge these disparities.
In 2023-24, the services sector contributed 65.7 per cent to Telangana’s Gross State Value Added (GSVA), the industrial sector 18.5 per cent, and agriculture and allied sectors 15.8 per cent.
The GSVA of agriculture and allied sectors increased by 4 per cent compared to 2022-23. Since agriculture employed 47.3 per cent of the State’s population, its success was vital for improving living standards. The services sector supported 33 per cent of the population, while 19.7 per cent depended on the industrial sector.
Telangana had undertaken 73 irrigation projects, completing 42 (10 large and 32 medium) and was currently constructing 31 (24 large and 7 medium) projects.
The Deputy Chief Minister said the government aimed to finish six projects that were in the final stages within this financial year and 12 more in the next.
Regarding the Kaleshwaram Lift Irrigation Scheme, Vikramarka assured steps in line with the National Dam Safety Authority’s instructions to protect the project, ensuring that the significant investment already made did not go to waste.
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