AMARAVATI: The Chandrababu Naidu-led NDA government in Andhra Pradesh has set an ambitious target of adding Rs 15 lakh crore to the current Gross State Domestic Product (GSDP) of Rs 15.93 lakh crore by the year 2029, taking the total to about Rs 30 lakh crore.
“(It is our) aspiration to add Rs 15 lakh crore in GSDP by 2029 necessitating an investment of Rs 40.43 lakh crore,” the state government announced on Tuesday, unveiling the Swarna Andhra @2047 vision action plan, on the first day of the two-day conference of the district Collectors.
For this, the government estimated that an investment of Rs 40.43 lakh crore would be required in the next four years to achieve the GSDP target, as also the per capita income target of Rs 5,42,985 by 2029.
In the plan presented by the government, however, the numbers did not quite add up to the targeted Rs 40.43 lakh crore investment.
For agriculture and allied sectors, an investment requirement of Rs 5.85 lakh crore has been projected. For industries, it is Rs 11.97 lakh crore and services sector Rs 19.52 lakh crore.
The total adds up to Rs 37.34 lakh crore, leaving a shortfall of Rs 3.09 lakh crore in the projections.
The government did not specify where this Rs 3.09 lakh crore investment would be put in.
Of the total Rs 40.43 lakh crore, the state government said Rs 9.29 lakh crore would come from the public sector, including the state budgetary allocation of Rs 4.8 lakh crore over five years.
The balance Rs 31.14 lakh crore is targeted from the private sector through policies like AP Clean Energy, Industrial Development, Food Processing and others.
Private investment is also expected into long-term projects like infrastructure, tourism, roads and highways, Information Technology services, communications and others.
The Central government institutions and Public Sector Undertakings are expected to chip in Rs 2.5 lakh crore while another Rs 2 lakh crore is expected to be mobilised through “innovative mechanisms” from state government institutions and PSUs.