'AP witnessing rapid economic growth'

'AP witnessing rapid economic growth' - Sakshi Post

Stating that peace and public order was necessary for all-round development, Andhra Pradesh Governor E S L Narasimhan on Saturday said the state has registered significant growth in various sectors in the first half of the current financial year.

Andhra Pradesh has posted a growth rate of 6.50 per cent in its Gross State Domestic Product (GSDP), as against the national average of 5.37 per cent, in the first half of 2012-13, he said while delivering the Republic Day address after unfurling the national tri-colour at Parade Ground in Hyderabad.

We achieved a growth of 8.77 per cent in agriculture and allied sectors as against 2.14 per cent at the national level. Similarly, industrial growth was 2.57 per cent as compared to 2.30 per cent and services growth was 7.79 per cent as against 7.03 per cent at the national level in the first half of the current fiscal, the Governor pointed out.

The Government is paying utmost attention to maintain peace and public order as it is the pre- requisite for comprehensive development of the state. And, with the expansion of infrastructure like new sea ports, airports with international connectivity, improved road connectivity, natural gas availability and development of petro corridor, AP has now become an attractive destination for entrepreneurs. As investors found the situation in AP conducive for investments due to investor-friendly policies and stable law and order, the Partnership Summit-2012 was slowly but noticeably yielding results, Narasimhan said.

Industrial activity picked up momentum with the Government of India according approval for establishment of two National Investment and Manufacturing Zones in Chittoor and Medak districts.  Each will come up in an area of over 5000 hectares in the next 5-7 years with an investment of Rs 74,000 crore and an employment potential of 12 lakh new jobs, the Governor said.




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