15.6% growth in Telangana state GSDP

 Hyderabad: The GSDP of Telangana state for 2022-23 at current prices increased to Rs 13.27 lakh crore, a growth of 15.6 per cent from 2021-22, according to the Telangana Socio Economic Outlook 2023, tabled by the  state government in Legislative Assembly on 06-02-2023.

The  per capita income (PCI) increased to Rs 3.17 lakh in 2022-23, which is `Rs 1.46 lakh higher than the national per capita income of Rs 1.71 lakh  in 2022-23. Based on the CAGR (compound annual growth rate) of PCI at current prices for Telangana and India for 2014-15 to 2022-23, the average citizen in Telangana can expect their income to double in roughly five to six years, whereas the average citizen in the country as a whole would have to wait for about eight to nine years, says the report. Every district in the state had a higher PCI than the country's PCI (`1,26,855) in 2020-21.

During 2018-21, Telangana's SOTR (state own tax revenue) as a proportion of GSDP was 7.21 per cent, which is the second highest among 18 general states (GS).

In 2018-21, Telangana recorded the highest SOTR growth rate amongst the  GS at AAGR (average annual growth rate) of 4.78 per cent which is more than three times that of the India GS average.  Telangana's SOTR average monthly receipts rose in 2022-23 (April to December) to Rs8,804 crore when compared to that during the same period of the previous year which was Rs 7,226 crore.

During 2018-21, the state's own revenue (state's own tax and non-tax revenue) accounted for 73.1 per cent of revenue receipts on average, which is much higher than the India GS average of 56.5 per cent, indicating its self-sufficiency.
In per capita terms, leaving out Goa, which is an outlier, Telangana's average per capita revenue (27,305) is the highest among India GS during 2018-21. The average for India GS is 23,788. In 2018-21, the share of development expenditure in total expenditure for Telangana is 78.1 per cent, which is the highest among India GS. The average for India GS stands at 68.4 per cent.

Telangana's capital outlay recorded a robust growth of 63 per cent in 2021-22 as per revised estimates (Rs 25,954 crore) as compared to that of 2020-21 (Rs 15,922 crore), providing the necessary support to the recovering economy post Covid-19. About 2,518 industrial projects were approved through TS-iPASS bringing new investments worth Rs 20,237 crore until January 2023.

The government has leased 88,821 acres of land for mining and quarrying activities and the state earned Rs 6,569 crore from mineral production in 2022-23 (up to November 2022) The state exported merchandise goods worth Rs 81,971 crore in 2021-22. Pharmaceutical goods and organic chemicals constituted 57.31 per cent of the total goods exported from the state. The US was the largest importer of goods from Telangana importing over 28.13 per cent of all exports by value.

According to PLFS 2020-21, more than one-third (33.21 per cent) of workers are employed in the services sector. At the all-India level, it is 29.64 per cent. Within the services sector, more than one-third of total workforce (39.75 per cent) were employed in trade, hotels and restaurants sub-sector, 21.04 per cent in transport, storage and communication sub sector.