AP Socio-Economic Survey Paints Rosy Picture About Future

Visakhapatnam: As Andhra Pradesh continues to evolve as a premier investment destination, several other sectoral policies are currently in the pipeline, aiming to strengthen the State’s industrial base, promote innovation, and ensure sustainable development.

According to the AP Socio-Economic Survey 2024-25, the TDP-led NDA Government remains committed to adapting and refining policies based on emerging trends, stakeholder feedback, and evolving economic landscapes. Future policies will focus on green energy, advanced manufacturing, digital transformation, and urban development further reinforcing the State's Swarnandhra Vision-2047 for economic growth and global competitiveness.

The report released in the budget session of both the Houses of the Legislature says going forward, the government is planning to release a few more policies which include Zero Poverty–P4 (Public, Private, People’s Partnership) Policy, Population Management Policy and two key policies which will soon be introduced. Additionally, several other sector-specific policies are under formulation and will be released in due course, ensuring a comprehensive and adaptive policy.

The report paints a rosy picture about the future.

Principal Secretary, Planning, Peeyush Kumar, said the State Government brings out the Socio-Economic Survey each year and presents it in both Houses of the State Legislature, alongside the Budget documents.

The survey is a comprehensive report that documents the socio-economic transformation of the State over the financial year, offering insights into macro economic trends, sectoral performance, and details of various government initiatives.

The Socio-Economic Survey 2024-25 is the result of collaborative efforts among government departments, compiled using official data.

This year's survey consists of multiple chapters covering key aspects of the State's development and also encompass a brief account on Swarna Andhra Vision 2047 outlining the long-term development goals for transforming Andhra Pradesh into a globally competitive State, Sustainable Development Goals (SDGs) & KPI Monitoring and an overview of policies that will influence socio-economic growth.

The report stated that Andhra Pradesh has introduced key policy frameworks such as the Industrial Development Policy (4.0) 2024-29, MSME & Entrepreneur Development Policy (4.0) 2024-29, and the Electronics Manufacturing Policy to drive industrial growth. These policies prioritise key sectors, including automobiles, pharmaceuticals, textiles, food processing, green energy, electric vehicles, and semiconductors.

The manufacturing sector remains key, contributing approximately 11 per cent to the Gross State Domestic Product (GSDP). The State, the report asserted, is committed to developing MSMEs. The government is committed to achieve sustained economic growth and development. As per the advanced estimates 2024-25, the Gross State Domestic Product (GSDP) at current prices is estimated at Rs.16.06 lakh crore, reflecting a robust growth rate of 12.94% over the previous year. This growth is driven by balanced performance across the sectors of agriculture, industry, and services.

Revised revenue estimates

The revenue for the State in FY 2024-25 (revised estimates) comprisedRs94,967 crore from own tax sources, Rs7,018 crore from own non-tx sources, and Rs.89,157 crore from Central transfers.

The total expenditure by the State, excluding ways and means advances and public debt repayments, was Rs2,36,512 crore in FY 2023-24 and is expected to be Rs2,49,418 crore in FY 2024-25 (RE).