Quick Revision Points AP Economy Part-1
✦ GSDP at Constant (2011-12) Prices for the year 2023- 24 (AE) is estimated at Rs.8.21 Lakh Crores as against the First Revised Estimate for the year 2022-23 of Rs.7.65 Lakh Crores with growth of 7.35%.
✦ As per the Provisional Estimates (PE), the GDP of All India for the year 2023-24 (PE) is at Rs. 173.82 Lakh Crores, as against Rs. 160.71 lakh crores in 2022- 23(FRE) and registered a growth rate of 8.2%.
✦ As per the Advance Estimates of 2023-24, Growth rate of GVA of Agriculture and allied activities, Industry and Services sector are estimated at 1.69%, 8.02% and 5.21% respectively.
✦ Agriculture & Allied Sector’s GVA is estimated at Rs. 2,17,403 Cr. for 2023-24 (AE) with growth rate of 1.69%.
✦ Estimates of Sub-sector-wise GVA for 2023-24 (AE)
- Agriculture: negative growth rate of 9.82%.
- Horticulture: growth rate of 2.84%.
- Livestock Sector: growth rate of 4.79%.
- Forestry & Logging Sector: growth rate of 0.85%.
- Fishing and Aqua Culture: growth rate of 2.61%.
✦ Industry sector GVA estimated at Rs.2,22,870 cr. with a growth rate of 8.02% for the year 2023-24 (AE).
✦ Industry sector consists of Mining & Quarry, Manufacturing, Electricity, Gas, Water Supply, Remediation & Other Utility Services and Construction sectors.
✦ Electricity, Gas, Water Supply, Remediation & Other Utility Services and Construction sectors have registered growth rates of 14.23% & 10.53% respectively.
✦ Manufacturing & Mining register a growth rate of 5.80% & 5.59% respectively.
✦ Service sector comprises of Trade, Hotels & Restaurants, Transport by Other Means & Storage, Supra Regional sectors (Railways, Communications and Banking & Insurance), Real Estate, Ownership of Dwellings & Prof. Services, Public Administration and Other Services sectors.
✦ GVA of Services Sector for the year 2023-24(AE) at Constant (2011-12) prices is estimated at Rs.2,90,360 Cr. with a growth rate of 5.21%.
✦ Communications, Real Estate & Ownership of Dwellings, Banking, Other Services, and Transport by other Means & Storage, Trade, and Railways registered a growth rate of 12.40%, 7.56%, 6.93%, 6.37%, 5.86%, 3.43% and 3.23% respectively.
✦ GSDP at Current Prices for the year 2023-24 (AE) is estimated at Rs.14.40 Lakh Cr. as against the First Revised Estimate for the year 2022- 23 of Rs.13.04 Lakh Cr. with a growth rate of 10.44%.
✦ All India GDP for the year 2023-24 (PE) is at Rs. 295.36 Lakh Cr., as against Rs. 269.50 lakh crores in 2022- 23(FRE), registered a growth rate of 9.6%.
✦ Per Capita Income of Andhra Pradesh during 2023- 24 (AE) at current prices is estimated at Rs.2,42,479 as against Rs.2,19,881 in 2022-23 (FRE).
✦ All India per Capita Income for the year 2023-24 (PE) is estimated at Rs.1,84,205 which is lower than the Andhra Pradesh, PCI.
✦ The revenue for the state in FY 2023-24 (RE) stood at Rs. 85,922 Crores from Own Tax sources, Rs. 7,432 Crores from Own Non Tax sources and Rs. 84,251 Crores of Central Transfer.
✦ The composition of individual components of Own Tax Revenue for FY 2023-24 (RE) is shown in as Chart 3.2.
✦ State’s Own Non Tax Revenue was Rs. 5,417 Crores in the FY 2022-23 and was Rs. 7,432 Crores in FY 2023-24 (RE). The main contribution towards the State’s Own Non Tax Revenue included the Mines and Mineral, Forests, Education and Other revenue sources. The composition of these revenue sources are given in Chart 3.3.
✦ Resource flow from the Centre was Rs. 81,563 Crores in the FY 2022-23 and was Rs. 84,251 Crores in FY 2023-24 (RE). Finance Commission allocation constituted a major portion of this Central Transfers, which was Rs. 51,351 Crores in the FY 2022-23 and Rs. 55,352 Crores in FY 2023-24 (RE). The central transfers for the FY 2021-22, 2022-23 and FY 2023-24 (RE) are elaborated in Chart 3.4.
✦ Total Expenditure by the State excluding the expenditure towards ways and means advance and public debt repayments was Rs. 2,10,273 Crores in the FY 2022-23 and was Rs. 2,36,512 Crores in FY 2023-24 (RE).
✦ Revenue expenditure was Rs. 2,01,256 Crores in the FY 2022-23 and was Rs. 2,12,450 Crores in FY 2023-24 (RE).
✦ Public Debt Repayment was incurred of Rs. 17,045.99 crores during 2023-24 and the same was incurred Rs.15,570.05 crores during 2022-23.
✦ Andhra Pradesh state spent Rs. 7,244 Crores on its Capital Outlay in FY 2022-23 and was Rs. 23,331 crores in FY 2023-24 RE.
✦ Total Debt by the State was Rs. 4,29,526 Crores at the end of the FY 2022-23 and was Rs. 4,91,734 Crores at the end of FY 2023-24(RE).
✦ The outstanding debt includes the un-apportioned amount of Rs. 4422.59 crores under Public Account.
✦ Market borrowing stood at Rs. 3,11,235 Crores in the FY 2022-23 and at Rs. 3,66,565 Crores in FY 2023-24 (RE).
✦ The state paid Rs. 29,481 crores as interest towards its debts in the FY 2023-24 (RE) wherein it had paid Rs. 25,492 Crores towards interest payments in the FY 2022-23.
✦ The Debt outstanding as percentage of GSDP was 32.60 % in FY 2022-23 and 33.71% in FY 2023-24 (RE).
✦ In the FY 2022-23, Andhra Pradesh faced a Revenue Deficit of Rs. 43,488 Crores and a Fiscal Deficit of Rs 52,509 Crores.
✦ In 2023-24 RE the Revenue Deficit is Rs. 38,683 Crores and Fiscal Deficit is Rs. 62,721 Crores.
✦ At the National level, Price Monitoring Division (PMD) in the Department of Consumer Affairs is responsible for monitoring prices of selected essential commodities. Prices are reported daily on the website.
✦ Price Monitoring Division also implements commodityspecific market intervention schemes to give temporary relief to the consumers.
✦ At the State level, the Directorate of Economics and Statistics reports on the prices of essential commodities periodically.
✦ Consumer Price Index is used as a device for measuring changes in the level of retail prices of goods and services.
✦ Labour Bureau, Ministry of Labour and Employment, Chandigarh has released Consumer Price Index for Industrial Workers (CPI-IW) with New Base 2016=100 duly replacing the existing base year i.e. 2001=100 from September, 2020.
✦ Guntur, Visakhapatnam and Nellore centres from Andhra Pradesh state have been taken into consideration for compilation of CPI-IW for new base year i.e. 2016=100 duly dropping Vijayawada centre of Krishna District in the old base year i.e. 2001=100.
✦ On par with Central Series, the D.E. & S., A.P is also compiling the CPI-IW with base year 2001=100 from the 4 complex centres under State Series based on Industrial workforce.
- Vizianagaram – Chittivalasa
- Kakinada-Rajahmundry
- Jaggaiahpet – Miryalaguda
- Tirupati – Renigunta
✦ Consumer Price Index Numbers for Agricultural Labour (CPI-AL) with 1986-87 as base year are being compiled by the Labour Bureau, Shimla.
✦ CPI-AL increased by 8.60% in the State and 7.06% at All India compared to the corresponding period in the previous year.
✦ National Statistical Office (NSO), Ministry of Statistics and Programme Implementation has revised the base year of CPI (Rural, Urban, Combined) from 2010 to 2012 with effect from 2015 for release of indices and the base is being followed by the States & UTs.
✦ The Office of the Economic Adviser, Ministry of Commerce & Industries releases Wholesale Price Index (2011-12=100) and covers 697 commodities as below:
- 117 are from‘Primary Articles’group
- 564 from‘Manufactured Products’group
- 16 from‘Fuel and Power’group
✦ WPI for all commodities decreased from 152.5 to 151.1 during the period from Apr’23 to Mar’24 when compared to the corresponding period of previous year i.e., Apr’22 to Mar’23.
✦ WPI of Manufactured Products decreased from 142.6 to 140.2 and for Fuel & Power group is decreased from 159.5 to 152.0 during the same period.
✦ Wage data is being collected from 44 selected centers spread over the State for 16 occupations.
✦ 9260 Mobile Dispensing Units were engaged exclusively by the A.P. State Civil Supplies Corporation Limited for distribution of scheduled commodities from fair price shops to the door step of the ration cardholders under T.P.D.S.
✦ At present 29,796 Fair price shops are functioning in Andhra Pradesh.
✦ Rice fortification in Public Distribution System (PDS) for ICDS and MDM schemes: Fortified Rice Kernels (FRK) enriched with Iron, Vitamin B12 and Folic acid will be blended with the fine quality of rice and distributed. The cost of the fortified rice is shared by Central and State Governments @ 75% and 25% respectively.
✦ Doorstep Delivery of Commodities under ICDS & PM Poshan Scheme (MDM) through Mobile Dispensing Units (MDUs) from October, 2022.
✦ SUPER SIX : DEEPAM –2 SCHEME
- Govt of AP launched Deepam – 2 scheme on 31.10.2024 i.e. Deepavali Day. Govt shall supply three gas cylinders free of cost per year to all eligible beneficiaries.
- The eligible beneficiary has the facility for booking the 1st cylinder in the Financial Year 2024-25 in a (5) months time i.e. from 29.10.2024 and upto 31.3.2025 and avail the benefits under the scheme.
- LPG cylinders will be supplied once in (4) months from the next financial year i.e. 2025-26 onwards as per the schedule given below:
- Block – I : April – July
- Block – II : August – November
- Block – III : December – March
Source: AP Socio Economic Survey
