Andhra Pradesh achieves 10.5% GDP growth in FY16

CM Chandra Babu said Andhra Pradesh has achieved a growth rate of 10.5% in the GSDP in the current fiscal year despite severe constraints. He told district Collectors to focus on inclusive growth to achieve a 15% target in 2016-17. Inclusive growth is very important and per-capita income should also increase, economic inequalities have to be reduced and long-term sustainability is vital. Your focus should be on this, Chief Minister said while addressing the inaugural session of the two-day conference of district Collectors in the city. Andhra Pradesh State had started off with a revenue deficit of about INR 16,000 crore while bifurcation of the state in 2014. This posed an enormous challenge for us but still we could achieve a growth rate of 8.39% in 2014-15 and increase it to 10.5% in 2015-16. For the next year, our target is a 15% growth in the GSDP," he said. The agriculture sector registered a growth of 8.40% in the current fiscal while the industry grew at 11.13% and services at 11.39%.