Economy of Telangana

Telangana is one of the fastest growing states in India posing average annual growth rate of 13.90% over the last five years.[3] Telangana's nominal GSDP(Gross State Domestic Product) for the year 2020-21 stands at ₹11.05 lakh crore (US$150 billion). Service sector is the largest contributor to the Telangana's economy with a share of about 65% in the year 2018-19. Growth in services has largely been fuelled by IT services with the State holding leading position in IT & ITeS in the country in terms of production and exports.[4]

Economy of Telangana
Statistics
GDP₹11.05 lakh crore (US$150 billion) (nominal; 2020-21 est.)[1]
GDP rank8th
GDP growth
10.5% (2018-19)[1]
GDP per capita
₹161,669 (US$2,300) (2018-19)[1]
GDP per capita rank
7th
GDP by sector
Agriculture (16%)
Industry (20%)
Services (65%) (2018-19)
7.46% (2019-20)[2]
Labour force by occupation
Agriculture (55.6%)
Industry (17.8%)
Services (26.6%) (2015-16)[2]
Unemployment7.6% (2017-18)[1]
Public finances
20.7% of GSDP (2020-21 est.)[1]
₹-33,191 crore (US$−4.7 billion) 3.0% of GSDP (2020-21 est.)[1]
Revenues₹1.43 lakh crore (US$20 billion) (2020-21 est.)[1]
Expenses₹1.83 lakh crore (US$26 billion) (2020-21 est.)[1]

All values, unless otherwise stated, are in US dollars.
Coal Handling Ropeway at Aswapuram, Khammam district

Agriculture also form a backbone of Telangana's Economy. Two important rivers of India, the Godavari and Krishna, flow through the state, providing irrigation. Farmers in Telangana mainly depend on rain-fed water sources for irrigation. Rice is the major food crop. Other important local crops are cotton, sugar cane, mango and tobacco. Recently, crops used for vegetable oil production, such as sunflower and peanuts, have gained favour.There are many multi-state irrigation projects in development, including Godavari River Basin Irrigation Projects.

The state has also started to focus on the fields of information technology and biotechnology. There are 68 Special Economic Zones in the state.[5]

Telangana is a mineral-rich state, with coal reserves at Singareni Colleries.[6]

Agriculture and Livestock
Paddy fields in Warangal district

Rice is the major food crop and staple food of the state. Other important crops are tobacco, mango, cotton, and sugar cane. Agriculture has been the chief source of income for the state's economy. Important rivers of India, the Godavari, Krishna flow through the state, providing irrigation. Apart from major rivers, there are small rivers as Tunga Bhadra, Bima, Dindi, Kinnerasani, Manjeera, Manair, Penganga, Pranahitha, peddavagu and Taliperu. There are many multi-state irrigation projects in development, including Godavari River Basin Irrigation Projects and Nagarjuna Sagar Dam, the world's highest masonry dam.

Given below is a table of 2015 national output share of select agricultural crops and allied segments in Telangana based on 2011 prices[7]

SegmentNational Share %
Ajwain30.5
Cow pea27.8
Chilli16.0
Turmeric13.7
Egg12.4
Kapas11.2
Fibre10.5
Lemon10.0
Bitter gourd9.5
Meat9.4
Tomato8.9
Orange8.7
Wool & hair7.6
Maize7.4
Mango6.5
Cucumber5.4
Bean5.3

Agri Export Zones for the following produce are proposed at the places mentioned against them:

Telangana is developing into a seed hub in India, and was selects as a certifying agency as per OECD standards, for 10 states. The state cultivated seeds in 2,251 acres and exported 17,000 quintals to countries like Sudan, Egypt, Philippines and in 2017-18, it expanded cultivation to 2,567 acre and was expecting yield of 26,000 quintals.

Industries
The Hyderabad Information Technology and Engineering Consultancy City or HITEC City is a major IT hub of Telangana
See also: Software industry in Telangana

Several major manufacturing and services industries are in operation mainly around Hyderabad. Automobiles and auto components industry, spices, mines and minerals, textiles and apparels, pharmaceutical, horticulture, poultry farming are the main industries in Telangana.

In terms of services, Hyderabad is usually nicknamed as Cyberabad due to its information technology foray and location of major software industries in the city.[8][9] Prior to secession, it contributed 15% to India's and 98% to Andhra Pradesh's exports in IT and ITES sectors last 2013[10] With Hyderabad as in the front line of Telangana's aims to promote information technology in India, the city boasts the HITEC City as its premier hub.

The state government is in the process of developing Industrial Parks at different places, for specific groups of industries. The existing parks are Software Park at Hyderabad, HITEC City for software units, Apparel Park at Gundlapochampalli, Export Promotion Park at Pashamylaram, Bio-technology park at Turkapally.

Services

Tourism
The Golconda Fort, Hyderabad

Telangana State Tourism Development Corporation (TSTDC) is a state government agency which promotes tourism in Telangana.[11] Telangana has a variety of tourist attractions including historical places, monuments, forts, water falls, forests and temples.

gollark: I imagine it's a trait of your tool.
gollark: No, it can be made selective.
gollark: They could at least throttle it. Steam downloads hyperaggressively somehow and consumes all bandwidth if not limited.
gollark: I know, right?
gollark: 256 or so at a time, yes.

References
  1. "Telangana Budget Analysis 2020-21". PRS Legislative Research. Retrieved 19 March 2020.
  2. "Socio Economic Outlook 2020". telanganalegislature.org.in. Planning Department, Government of Telangana. Retrieved 19 November 2016.
  3. N. Rahul. "State economy growing faster than nation's". The Hindu.
  4. "Telangana leads the country in services sector growth". The New Indian Express.
  5. "TG Special Economic Zones" (PDF). sezindia. Archived from the original (PDF) on 7 October 2009. Retrieved 3 June 2014.
  6. "The Singareni Collieries Company Limited". scclmines. Retrieved 3 June 2014.
  7. 2015 agricultural output of Telangana based on 2011 prices
  8. Roy, Ananya; Aihwa, Ong (2011). Worlding cities: Asian experiments and the art of being global. John Wiley & Sons. p. 253. ISBN 978-1-4051-9277-4.
  9. "An Amazon shot for city". The Times of India. 13 October 2011. Retrieved 13 October 2011.
  10. "Special governance for Hyderabad needed for growth". The Times of India. 25 June 2013. Retrieved 25 June 2013.
  11. "Huge challenges ahead for new Telangana tourism corporation". timesofindia.indiatimes.com. 9 May 2014. Retrieved 4 June 2014.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.