The per capita income of Telangana is estimated to increase by 0.6 per cent, compared to previous year, to Rs.2,27,145 in 2020-21. The per capita income of the country is estimated to decline by 4.8 per cent to Rs.1,27,768. Thus, the per capita income of Telangana is higher than the country’s per capita income by Rs.99,377. Despite adverse conditions, the Telangana per capita income showed increase. This is proof that the economy of Telangana is in a better State even during the adverse situation. It is evident that Telangana has emerged as a major economic power in the country.
As per advance estimates, GSDP at current prices in 2020-21 is estimated at Rs.9,78,373 crore. With the adverse impact of corona and lockdown, the growth of GSDP declined significantly from 13.5 per cent in 2019-20 to 1.3 per cent in 2020-21. The national GDP growth declined from 7.8 per cent to -3.8 per cent in the same period. As compared with the national GDP growth,State’s GSDP growth is much better. With lot of the foresight our Hon’ble Chief Minister has taken steps to stimulate the rural economy. With these efforts, we have been to prevent any adverse impact of corona on the rural economy.
The improvements in power supply, increase in irrigated area as a result of new projects and implementation of many development and welfare schemes like Rythu Bhandu, distribution of sheep, supply of fish seedlings to fishermen helped the primary sector recorded a growth of 17.7 per cent in 2020-21. The growth rate of secondary and services sectors recorded -5.2 per cent and -1.9 per cent, respectively.
