Telangana economy grows 10.4 per cent

Hyderabad: Telangana registered a double digit growth in Gross State Domestic Product (GSDP) at 10.4 per cent as against the national GDP growth of 6.6 per cent in 2017-18. This is highest growth ever since the formation of the state.

The country’s youngest state grew at 7.4 per cent in FY15, 8.6 per cent in FY16 and 10.1 per cent in FY17. The share of the state in the national GDP rose by nine basis points in the last financial year alone, said minister K.T. Rama Rao. Telangana state’s GSDP rose from Rs 6.42 lakh crore to Rs 7.33 lakh crore 2017-18 in current prices. At constant prices, the GSDP rose from Rs 4.98 lakh crore in 2016-17 to Rs 5.49 lakh crore.

Elaborating on the highlights, Mr Rama Rao said, “Telangana accounts for 2.9 per cent of India’s population, but contributes 4.37 per cent to the national GDP. The share of Telangana in India’s GDP rose by 35 basis points during the past three years. The industrial growth has created 5,27,607 jobs in the state.” 
The state government introduced TSiPASS in June 2015 and has since attracted Rs 1,23,478 crore investments via 6,469 units that created 5,27,607 jobs, according to the latest annual report on the industry.

“Of the total investment received in three years, the state got Rs 58,581 crore in 2017-18. The industry-friendly policy is enabling the state government to attract more units. The investments last year alone accounted for 47.44 per cent of the total investment received in three years. This shows growing acceptance of TSiPASS,” Mr Rama Rao said.

Mr Rama Rao along with industry secretary Jayesh Ranjan, Telangana Indus-trial Health Clinic Ltd adviser Dr B.Yeeram Raju, CII-Telangana president Sanjay Singh, senior officials and representatives of industry released the 2017-18 annual report on industry here on Monday.

Elaborating on the industry performance during the past three years, Mr Rama Rao said: “Out of the total clearances issued to 6,469 units, 4,624 units have commenced operations, while 616 units are in an advanced stage of beginning commercial operations. The remaining 761 units are yet to begin construction work.”

To provide comprehensive infrastructure to entrepreneurs, the TS Industrial Infrastructure Corporation developed 148 industrial parks in 2017-18 fiscal and allotted 195.25 acre to 460 units. This created 50,000 jobs and attracted Rs 1,444.67 crore investment, the minister said.

On relocating polluting industrial units to outside the Outer Ring Road (ORR), Mr Rama Rao said, “We have identified 19 locations outside ORR within a distance of 100 km for relocating polluting industrial units. It doesn’t mean we are shifting pollution from one place to another.”

He said the government would create infrastructure with effluent treatment facility along with social infrastructure. “The government will not force units to relocate immediately; there will be sufficient time for them. We will create industrial and social infrastructure. The government has decided to offer incentives to the units to relocate,” he said.

On the proposed industrial parks, Mr Rama Rao said MSME Green Indus-trial Park would be operational this year. It is coming up on 377 acres at Buggapadu in Khammam district and will create 12,250 direct employment opportunities.

The government had earlier decided to set up two MSME parks in every Assembly constituency. “Hyderabad Pharma City has got environment clearances and we sent the proposal to the Union forest ministry for approval,” he said.

Pharma City is expected to attract Rs 64,00 crore investment and generate 4.2 lakh jobs. “Kakatiya Textiles Park will be the largest in the country as it will generate 1.13 lakh jobs with an investment of Rs 11,586 crore. National Industrial Manufacturing Zone, Women Entrepreneurs Park and LED Park, Food Park and Spices Park will become operational very soon,” he said.