Vijayawada: The state government is reviewing the 12 per cent GSDP growth rate that it had announced earlier. AP Planning Board vice-chairman C. Kutumba Rao said the figures were subject to correction by the Centre.
Mr Rao was speaking at a programme organised at the Book Festival here.
Asked about the 12 per cent growth rate, Mr Rao said Real Gross Domestic Product (Real GDP) was a modification of the basic Gross Domestic Product (GDP) calculation that is commonly used to measure the size and growth of an economy.
Real GDP involves modifying the normal GDP figure to account for inflation and remove the impact that it has on GDP growth over time. “AP’s is a new state and everything was started from zero. Hence, the GDP will show a significant rise in the growth rate,” he said.
Mr Rao said AP had registered high growth in the animal husbandry, fisheries and agriculture sectors. Asked how growth would be possible in agriculture, when 287 mandals including an entire district were listed as drought affected by the disaster management department, Mr Rao evaded a reply but said that the media had “lost its credibility by indulging in unnecessary criticism.”
