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KTR releases Annual Report

KTR releases Annual Report

Even as Telangana State celebrated its 3rd formation day, the State’s economic numbers were heartwarming. GDP of the state, at constant prices of Rs. 5.11 lakh crore, recorded  a growth rate higher than the national average for the third consecutive fiscal year. While the service sector accounted for 63 per cent of the state’s GDP, agriculture & allied sector recorded the highest growth rate of 12.8 per cent. Unlike negative growth rate in the past two years, crops recorded growth of 19 per cent. Major players in the service sector were ‘real estate, ownership of dwellings & professional services’ contributing 20.8 per cent and ‘Transport, storage, communication & services related to broadcasting’ growing at 11.2 per cent. The state’s per capita income remained higher than All India PCI at Rs. 158,360 boasting a rise of 12.6 per cent. Telangana’s inflation is moving in tandem with the national number but during the current fiscal fell sharply to 1.1, which is half of the national rate.

A system for speedy clearances which was put in place for entrepreneurs and investors has generated investment of Rs 73,000 crore and 2.46 lakh jobs over two years while the World Bank has placed the state first in Ease of Doing Business 2016 rankings.

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