Highlights of Economic Survey 2022-23 | APPSC State Specific Preparation Course - APPSC (Andhra Pradesh) PDF Download

Introduction

• Andhra Pradesh has achieved an impressive growth rate of 16.22% in the fiscal year 2022-23. 
• According to the state planning department, the Gross State Domestic Product (GSDP) for 2022-23 is projected to be Rs 13,17,728 crore, marking an increase of Rs 1,83,891 crore from the previous year's final revised estimates of Rs 11,33,837 crore.

Key Points from AP Economic Survey 2022-23

Chief Minister YS Jagan Mohan Reddy unveiled the findings of the AP socio-economic survey for 2022-23.

Agriculture and Allied Sectors (GVA)

• The agriculture and allied sectors collectively experienced a growth rate of 13.18%.
• The agriculture sector alone recorded a growth rate of 20.72%.
• Horticulture sector achieved a growth rate of 12.58%.
• The livestock sector reported a growth rate of 7.32%.
• Fisheries contributed 19.41% to the Gross Value Added (GVA) in this sector.

Industry Sectors (GVA)

• The industry sector witnessed a GVA growth of 16.36%.
• Mining and quarrying sector reported a growth rate of 15.81%.
• The manufacturing sector saw a growth rate of 11.81%.
• Electricity, gas, and other related sectors collectively grew by 30.96%, while the construction sector grew by 16.94%.
• The services sector achieved a growth rate of 18.91%.
• Trade and hotels sector recorded a growth rate of 28.42%.
• Railways sector experienced a growth rate of 17.82%.
• Transportation by other means contributed 21.64% to the GVA.
• The real estate sector grew by 13.14%.

Growth Rate

• The State Economic Survey highlighted a remarkable growth rate of 7.02% in 2020-21, surpassing the national growth rate of 7.0%.

Agriculture and Allied Sectors

• Agriculture and allied sectors saw a growth rate of 4.54%.
• The agriculture sector independently achieved a growth rate of 10.72%.
• Horticulture reported a growth rate of 3.03%.
• Livestock sector witnessed a growth rate of approximately 2.89%.
• The fisheries sector experienced a growth rate of 4.87%.

Industry Sector Breakdown

• The industry sector achieved a growth rate of 5.66%.
• Mining and quarrying recorded a significant growth rate of 10.81%.
• Manufacturing sector grew by 4.82%.
• Electricity and gas sectors combined reported a growth rate of 6.53%.
• Construction sector returned a growth rate of 4.71%.

Services Sector and Trade

• The services sector exhibited a growth rate of 10.05%.
• Trade and hotels sector flourished with a growth rate of 16.64%.

Per Capita Income

• The Per Capita Income of Andhra Pradesh surged to Rs. 2,19,518 in 2022-23 from Rs. 1,92,587 in 2021-22, marking a substantial increase of Rs. 26,931 within a year.