Hyderabad|India|December'2008: The severe recession has slowed down the global economy for a brief while. But, the impact has not been felt in AP where the slew of welfare and development measures initiated by the State Government have ensured that people in general, common man in particular, is not affected by the crisis.

Thanks to the welfare measures like Rs.2 a kg rice, palmoil and red gram at subsidised prices, Rs 50/- reduction in Gas Cylinder prices, common man in the State is relieved from the impact of price rise, while schemes like Arogya Sri have helped in giving him a health coverage which in ordinary course was a mirage for him. The measures launched by the Congress-led UPA Government at the Centre brought down inflation and thereby reduction in the prices of essentials helping the BPL, lower and middle class families to a large extent. The availability of Naphtha at low prices has reduced the burden of additional power purchases to an extent. This year also we are going to achieve targeted record production of 205 lac MT of Food grains. Coupled with this is the Udyog Sri programme for providing 10 lakh jobs to unemployed youth. Hence, the 'Common Man is Really Shining' in the State, unlike NDA Govt's 'India Shining', which only benefited the rich, said Chief Minister Dr.Y.S.Rajasekhara Reddy.

Reviewing the impact of the recession on the State's economy with D.A.Somayajulu, Advisor to Government, Economic Affairs, Chief Minister Dr Y S Rajasekhara Reddy said the Government's efforts to invest more in the capital expenditure for creating permanent assets to the State has helped in tiding over the crisis. The growth in capital expenditure touched a whopping 160 per cent during the previous years with the Government investing over Rs.54,000 crore on asset creation against the Rs.33,000 crore borrowings.

Andhra Pradesh has remained unaffected by the recession because of the proactive measures initiated by the Government. This is evident from the healthy growth in the economy witnessed over the past couple of years. The State recorded a GSDP growth of 7.20% during the first half of 2008-09 (April-September, 2008) while the per capita income during 2007-08 (updated) has been pegged at Rs.34,057 compared to national average of Rs.33,299. Andhra Pradesh has also achieved an envious GSDP growth rate of 10.64% as against the national average of 9.03% during 2007-08. The average economic growth during 2004-05 to 2007-08 was 8.73% as compared to 5.79% during 1994-95 to 2003-04. Growth in industry sector was 8.9% compared to 5.4% during 2000-04. In manufacturing sector alone, investments to the tune of Rs.16,735 crores were made during 2004-08 compared to just Rs.5,392 crores during 2000-04.

The Govt has already achieved several milestones which was proved by the ASSOCHAM's latest statistics (October 17, 2008) that Andhra Pradesh attracted capital expansion (CAPEX) worth Rs.1,08,559 crores during the first half of 2008 and thus became India's top investment destination for domestic private sector. As per RBI Report, for the year 2007-08 AP was the second best investor-friendly State. The best position achieved during previous Govt's 9 years regime was only 7th Rank.

The Government has decided to expedite works on the proposed power projects that will add 15,000 MW to the State's installed capacity of 12,400 MW within next 5 years. In addition, the large gas find at Krishna-Godavari basin will become the lifeline of the State's economy once the full-scale production commences in the next few months.

In addition to the highest number of special economic zones in the country, Andhra Pradesh took the lead in setting up Petroleum, Chemical and Petrochemical Investment Region (PCPIR) to promote Petroleum, Chemical and Refinery Project; The commissioning of the country's largest private sector port, the Krishnapatnam Port; the first green field international airport at Shamshabad are some of the major achievements in the past four years.

Keeping in view the demand of trained manpower in the upcoming industries, the Government is providing training to the unemployed youth in skill upgradation under the Rajiv Udyoghsri Programme by investing Rs.1,000 crores in two years and would create 10 lac additional jobs. The Chief Minister advised officials to continuously put a vigil on international and national economic situation and take all necessary proactive measures.

Reachout's News Bureau
 December' 2008