AP’s SGDP rose to Rs 13,17,000 crore, says finance minister

Vijayawada: Finance Minister Buggana Rajendranath said on Friday that AP’s gross domestic product (SGDP) increased largely to Rs 13,17,000 crore (16.22 per cent) in 2022-23 from Rs 9,25,000 crore in 2019-20.

"This was possible due to the increase in production. During the Covid period, agricultural and industrial activities were not suspended in AP, unlike in other states, and appropriate protective measures were taken by the state government," the minister claimed in the state Assembly.

 Replying to the General Discussion on Budget 2023-2024 in the Assembly on Friday, he said TD’s incompetence and neglect at every step including lack of coordination with the Centre resulted in a neglect of AP in all forms. “TD exited from the government without paying the pending bills. The debts piled up like a hill.”

The minister said that after the YSRC came to power in 2019-20, it was an uphill task for it to set things right. However, the Covid – 19 pandemic shook AP and the whole world for two years. The state government continued welfare schemes through DBT during the Corona crisis and provided financial assistance to the industries. It also helped farmers in the continuation of agriculture activities and helped in the circulation of money in the market, he claimed.

 Rajendranath said that public welfare was top priority for the YSRC government, but there was malicious propaganda against the government saying high expenditure contrasted with low returns.

The FM said the state gross domestic product (SGDP) of the last four years showed a major improvement. It was Rs 9,25,000 crore in 2019-20 (5.97 per cent at current prices), which rose to Rs 13,17,000 crore (16.22 per cent) in 2022-23.

 He recalled that during the Covid times, agricultural activities were not suspended in AP, unlike other states, and appropriate protective measures were taken. The government had made special arrangements to continue the work in the manufacturing sector or industries, to perform at levels beyond those of other countries and states, he claimed.

 Rajendranath said that in the last two years, the additional gross domestic production has increased under which, in 2021-22, it was Rs 1.77,000 crore; and in 2022-23 it increased to Rs 1.83,000 crore.

 He said the Jagan-led government adhered to four principles: It did good governance to increase productivity, implemented the DBT policy to the people to avoid corruption, ensured participation of women in every government development programme; and increased participation of all people in the welfare programmes of the government.

 “Sustainable Development Goals (SDGs) of the UN have been followed by the government in earnest. Some 62 per cent of the state people are in agriculture sector and agriculture and allied sectors and the government was spending Rs 10,000 crore to provide free electricity for agriculture besides providing insurance, fertilisers, and good seeds to the farmers and agriculturists on time.