Telangana Projects ₹14.56 Lakh Crore NSDP for 2024-25, Showcasing Robust Growth

Fast Summary

• Telangana’s Net State Domestic Product (NSDP) for 2024-25 is pegged at ₹14.56 lakh crore, up by ₹1.34 lakh crore from the previous fiscal’s ₹13.22 lakh crore.
• Key contributors to this growth include:

– Agriculture and allied sectors: ₹2.12 lakh crore
– Trade, repair, hotels and restaurants: ₹2.59 lakh crore
– Manufacturing: ₹1.08 lakh crore
– Construction: ₹73,191 crore.

• The state’s economy has seen consistent annual growth of over ₹1 lakh crore in NSDP since 2022-23 when it was recorded at ₹11.93 lakh crore.
• Per capita state domestic product grew significantly to reach ₹3.79 lakh in the fiscal year:

– Telangana ranked second nationally behind Karnataka (₹3.8 lakh).
– Figures were double the national average of ₹2.05 lakh.

• Historically, Telangana has made substantial progress since its formation in 2014; per capita NSDP increased sharply from a base figure of just ₹24,409 in FY2005.

Indian Opinion Analysis

Telangana’s economic trajectory marks a remarkable achievement among Indian states with sustained high-growth indicators across multiple sectors such as agriculture and hotel trade industries after forming as an independent state in 2014.

The upward trend in per capita income showcases how local governance structures have leveraged economic reforms to bring wealth creation closer to individuals while maintaining strong numbers on broader metrics like NSDP growth despite challenging geopolitical conditions globally.In this very way its dual ability modernise sectoral targets beyond low bases ,while fiscally performing ahead wider averages Essentially offering case-study perhaps replicable models elsewhere India read more!.