Minister chairs review meet on gross value added growth
Finance Minister Yanamala Ramakrishnudu on Tuesday reviewed the status of the first quarter economy of 2018-19 sub-sector wise and progress of the second quarter with Advisor (economic growth) D. Dakshina Murthy and officials of the Directorate of Economics and Statistics, according to a press release.
The first quarter of 2018-19 gross value added (GVA) growth is 11.25 %. The GVA growth of agriculture and allied sectors is 14.66 %, industry sector 11.00% and service sector is 10.10%.
In the agriculture sector, the Minister asked officials to analyse in detail the land use, particularly in new ayacut/irrigated area developed and its productivity, areas diverted from agriculture to horticulture, particularly in Anantapur district and land converted into fish ponds.
He also wanted them to analyse the growth rate of population, food production, paddy, wheat and inflation and the area covered under natural farming and organic farming, its productivity in details.
In the livestock sector, Prakasam district contributed 11.7% GVA followed by Krishna 11.4 % and West Godavari 10.9%.
The Minister was of the view that other districts too had potential which could be accelerated by providing logistics. In fishing, Krishna and West Godavari districts alone contributed about 60% GVA to the State.
Visakhapatnam was on the top position in manufacturing sector, contributing around 30 % followed by Guntur (11.89%).
Mr. Ramakrishnudu asked the officials to analyse the GVA of old manufacturing units and MSME units which provided job opportunities.
He said in the service sector, there was a potential for improving the GVA, particularly in tourism, IT, real estate and directed the officials to hold a meeting with the respective departments and explore possibilities.
Directive to officials
He wanted the officials to work on strategies to enhance GVA growth, reach 15% and sustain it, as per the desire of Chief Minister N. Chandrababu Naidu.