Despite COVID, Telangana registers 1.35 per cent GSDP growth in current fiscal

Hyderabad: Despite the Covid-induced economic slowdown, Telangana state has "outperformed" various and registered a 1.35 per cent GSDP growth in the current fiscal 2020-21.

The state also registered 0.61 per cent growth in per capita income, according to data submitted to the Centre by the state government's Directorate of Economics and Statistics. The growth rate is better than the national average.

The state government has put the GSDP (gross state domestic product) at Rs 9,78,373 crore and per capita income at Rs 2,27,145. At the national level, the GDP was Rs 203.51 lakh crore last year. This year, in 2020-21, it fell to Rs195.86 lakh crore, amounting to a decrease of 3.8 per cent.

At the national level, the per capita income decreased by 4.8 per cent. It came down from Rs 1,34,186 in 2019-20 to Rs 1,27,768 in 2020-21. Telangana's per capita income on the other hand increased from Rs 2,25,756 to Rs 2,27,145.

Telangana has been registering over 12 per cent GSDP growth since its formation in 2014. This yet is the lowest-ever GSDP growth the state at 1.35 per cent in 2020-21.

In 2014-15, the GSDP growth was 12.02 per cent, which shot up to 14.24 per cent in 2015-16. It fell slightly to 13.92 per cent in 2016-17, maintained steady growth at 13.93 per cent in 2017-18, 13.41 per cent in 2018-19 and 13.49 per cent in 2019-20. Thanks to the Coronavirus pandemic, the subsequent lockdowns and the economic slowdown in 2020-21, the GSDP growth rate fell sharply to 1.35 per cent.