Telangana continues impressive growth with NSDP pegged at ₹14.56 lakh crore in 2024-25

Telangana continued to register impressive growth in several economic indicators with the State’s Net State Domestic Product in the financial year 2024-25 pegged at ₹14.56 lakh crore.

This is over ₹1.34 lakh crore higher than the ₹13.22 lakh crore net state domestic product registered in the previous fiscal 2023-24. Incidentally, the development took place on completion of the government with Chief Minister A. Revanth Reddy at the helm. The prime contributors to the growth in the State domestic product have been agriculture and allied sectors at ₹2.12 lakh crore, trade, repair, hotels & restaurants at ₹2.59 lakh crore, manufacturing (₹1.08 lakh crore) and construction ₹73.191 crore.

The State had been registering impressive growth rates in the net state domestic product achieving growth of over ₹1 lakh crore every fiscal. Telangana’s net state domestic product was ₹11.93 lakh crore in the fiscal 2022-23 and ₹10.17 lakh crore in the year ago period indicating the healthy growth over the years. But the growth since Mr. Revanth Reddy took over the reins assumes significance as there was general lull in the industry owing to various geo political factors domestically and abroad.

According to the Handbook of Statistics on Indian Economy released by the Reserve Bank of India, growth in the per capita state domestic product too was significant during the period as the State lead others with ₹3.79 lakh. This was much higher as compared with the ₹3.46 lakh of the previous fiscal. Telangana ranked next only to Karnataka which registered per capita state domestic product at ₹3.8 lakh and it was almost double that of the national average of ₹2.05 lakh.

Beginning with per capita state domestic product of ₹24,409 in the base year 2004-05, the State registered impressive growth figures in the subsequent years. The per capita net state domestic product was ₹1.24 lakh in 2014-15, the first year of Telangana’s formation, and it had made rapid strides ever since especially between 2017-18 and 2018-19 when it grew from ₹1.79 lakh to ₹2.09 lakh.