The Gross State Domestic Product (GSDP) of Andhra Pradesh is projected to reach ₹16.06 lakh crore in the 2024-25 fiscal year, reflecting a growth rate of 12.94% compared to the previous year.
According to the preliminary estimates published in the State Socio-Economic Survey, this growth is primarily driven by a balanced performance across agriculture, industry, and service sectors.
In the agriculture sector, the Gross Value Added (GVA) is expected to be ₹5.19 lakh crore, experiencing substantial growth of 15.86%. The industrial sector’s GVA is projected at ₹3.41 lakh crore, which marks a growth of 6.71%. Meanwhile, the services sector continues to be a significant contributor, with its GVA estimated at ₹6.11 lakh crore, reflecting an increase of 11.70%.
Within agriculture, key areas such as horticulture, livestock, and fishing have demonstrated impressive growth, particularly fishing and aquaculture, which have achieved a growth rate of 16%.
The industrial sector has also seen advancements, particularly in manufacturing, which is up by 6.57%, and construction, which has grown by 10.47%. The services sector has performed admirably, with communications experiencing a 15.28% increase, while banking and insurance have grown by 14.61%.
Furthermore, the estimated per capita income for Andhra Pradesh in 2024-25 stands at ₹2,68,653, surpassing the national average of ₹2,00,162, indicating an improvement in living standards for residents of the state, as highlighted in the 465-page survey.
