Andhra Pradesh economy “fully recovered” from Covid-19, says survey

Andhra Pradesh’s economy has “recovered fully” from the adverse impact of Covid-19, leading to a 18.47 per cent increase in the Gross State Domestic Product (GSDP), the Socio-Economic Survey said.

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Andhra Pradesh | Coronavirus | economy

: Andhra Pradesh’s economy has “recovered fully” from the adverse impact of Covid-19, leading to a 18.47 per cent increase in the Gross State Domestic Product (GSDP), the Socio-Economic Survey said.

The SES 2021-22 was presented to the state Legislature on Friday.

“The state economy has recovered fully from the adverse impact of Covid. The GSDP at current prices touched Rs 12,01,736 crore as per the advance estimates for the 2021-22 financial year. The economy showed a great comeback,” the SES said.

In 2020-21, the GSDP was Rs 10,14,374 crore.

At constant prices (2011-12), the GSDP grew at 11.43 per cent to Rs 6,70,321 crore.

At constant prices, agriculture sector contributed to 11.27 per cent, industry 12.78 per cent and services 9.73 per cent to the growth in Gross Value Addition.

The SES said the per capita income in AP increased to Rs 2,07,771 in 2021-22 (advance estimate) from Rs 1,76,707 the previous year.

“The per capita income saw an increase of over Rs 31,000 at a highly-impressive growth rate of 17.58 per cent,” it said.

The state’s own tax revenue jumped from Rs 57,427 crore in 2020-21 to Rs 73,690 crore in 2021-22. While non-tax revenue increased to Rs 5,451 crore from Rs 3,395 crore year-on-year, the Centre devolutions shot up to Rs 77,947 crore in 2021-22 from Rs 59,703 crore the previous year, the Survey revealed.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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