Though Chief Minister Chandrababu Naidu has been asking officials to ensure 15 percent growth rate should be achieved continuously, the officials projection at the Collectors’ Conference explains otherwise. Moreover, the projections making it clear it is bound to decrease significantly by 2047.
Chief Minister Chandrababu Naidu has instructed the officials to make strong efforts to achieve the desired growth target. He discussed the GSDP with the officials and collectors during the Collectors’ Conference.
On this occasion, Principal Secretary of the Finance and Planning Department Piyush Kumar, while presenting the report, said that a growth target of 17.11 percent has been set for this year. He said that despite the financial difficulties, it is moving forward rapidly.
He explained that 8.60 percent growth was recorded in 2023-24, and 12.02 percent growth was recorded in 2024-25. At the same time, growth targets up to 2029 and 2047 were also mentioned in his report. It was explained that the growth achieved in the first quarter was 10.5 percent, which is higher than the national growth of 8.8 percent.
However, it is noteworthy that the growth observed in the coming period will gradually decrease. While the target of growth of more than five percent in the current financial year compared to the previous year was set, the report stated that growth will decrease from 2026-27. While the growth is expected to be 16.18 percent in the next financial year, it is said that it will be 16.23 and 16.28 percent respectively.
However, the officials explained in this report that the growth, which will decrease from 14.41 percent for the financial year 2033-34, will decrease to 13.65 percent by 2038-39, 12.78 percent in 2043-44 and 11.97 percent by the final target of 2047-48. It is known that the Chief Minister has been saying for the last few months that 15 percent growth should be maintained till 2047-48.
It is noteworthy that there is a difference between the latest figures. Despite these expectations, the Chief Minister directed the officials and district collectors to pay special attention to increasing growth in the Collectors’ Conference. It is noteworthy that there should be regular monitoring of this and clear instructions were given to the Finance and Planning Department officials.