Telangana's economy is likely to grow at a healthy 13.7 per cent rate in the current fiscal and the state has attracted Rs 54,000-crore investments since its inception in 2014, Governor ESL Narasimhan today said.
In his customary address to the joint sitting of the state legislature on the opening day of the Budget session, he listed the government's priorities and said by the end of next three years, the total installed capacity of power would go up to 16,306 MW, including hydel and solar.
"As per the advanced estimates of 2016-17, the GSDP (Gross State Domestic Product) is likely to grow at an impressive rate of 13.7 per cent at current prices, compared to the estimated all India growth rate of 11.5 per cent.
"At constant prices of 2011-12, this corresponds to 10.1 per cent growth as against the projected national growth rate of 7.1 per cent," he said.
As per the advanced estimates, the GSDP is estimated to be at Rs 6.54 lakh crore during the current fiscal at current prices, the Governor said.
Agriculture and its allied sectors are set to witness 17.2 per cent growth over the last year, he said.
The manufacturing sector is likely to grow at 9.8 per cent, up from all-India growth of 8.7 per cent, while the service sector may grow at 14.6 per cent as against all-India growth of 11.9 per cent.
"While the installed generation capacity at the time of state formation (June 2, 2014) was 6574 MW, in the last two -and-a-half years, my government has created an additional generation capacity of 4,190 MW. By the end of the current year, generation capacity of 4,130 MW will be added."
The Governor said the state witnessed Rs 54,000 crore- investments from 3,451 units with an employment potential for 2.20 lakh people since its formation.
He said the government is implementing several schemes for welfare of the poor and needy.
After the address, Opposition Congress staged a walkout alleging the speech was full of "false information" and "failed" to present the correct picture as far as promises made by the government were concerned.
"There is no mention about the three-bedroom housing scheme and three acres land to SCs/STs). The speech was full of false information," Telangana Pradesh Congress Committee president N Uttam Kumar Reddy said.
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