Sunrise state ready to shine
Having notched the third position in the national logistics index within just four years of formation, the sunrise state is now chasing a larger vision to be among the top 15 states in the Global Competitiveness Index.
Having notched the third position in the national logistics index within just four years of formation, the sunrise state is now chasing a larger vision to be among the top 15 states in the Global Competitiveness Index Nara Chandrababu Naidu Chief Minister of Andhra Pradesh Andhra Pradesh is growing at a sustained double digit rate and has the required infrastructure of ports and airports to facilitate investments. AP is among the top three states in India to attract most FDIS in 2016.
Can anyone expect a newly formed state in a country to post a growth rate which is much higher than the country itself? Well, the sunrise state of Andhra Pradesh has achieved this remarkable feat under the visionary leadership of Chief Minister Chandrababu Naidu. The government has set a target of achieving 15 per cent CAGR in the years to come. Andhra Pradesh succeeded in achieving the double-digit growth rate from 8.51 per cent in 2014-15 to 11.37 per cent during the first half of the current fiscal, 2017-18. “Compared with the national growth rate of 5.8 per cent, A.P.’S growth rate is very impressive. But a lot has to be done, as the CAGR is still hovering over 12 per cent. We need to improve it and a lot needs to be done in the industry and services sectors,” says N Chandrababu Naidu, Chief Minister of the state.
Following the bifurcation in 2014 the state was left in a very challeng- ing situation with revenue and power deficit. But within three to four years of formation the state has catapult to number one position on various fronts – ease of doing business, attracting private sector investments, infrastructure reforms and e-governance and technology initiatives. Andhra Pradesh is today the fastest growing state in India with 10.99 per cent GSDP growth rate in FY2015-16. Andhra Pradesh is the first state to introduce single window clearance. The government departments ensure to award all clearances within 21 days for any investment proposal through a single window.
The state government has a vision to grow at 10-15 per cent every year till 2029, in terms of GDP and the per capita GDP has to reach $12,00015,000 in this time frame. Since 2014 the state has already clocked double