Telangana GSDP Surges 10% to Rs 16 Lakh Cr in FY25

Hyderabad, March 19 (PTI) Telangana's economy witnessed a robust expansion in fiscal 2024-25 with its Gross State Domestic Product (GSDP) at current prices valued at Rs 16.12 lakh crore, reflecting a growth rate of 10 percent, said Socio Economic Outlook for 2025 on Wednesday.

Its per capita income for 2024-25 at current prices is estimated at Rs 3.79 lakh, growing at 9.6 percent and indicating an overall improvement in living standards, employment opportunities and economic development, said the Economic Outlook.

“The state's economy has witnessed robust expansion, particularly in the IT sector, driven by strategic budgetary allocations for industry and technology,” said the Economic Outlook.

According to the Economic Outlook, the primary sector continues to be the largest employer, accounting for 42.7 percent employment, followed by secondary sector (22.5 percent) and tertiary sector (34.8 percent).

Further, it noted that the southern state recorded the highest share of its own tax revenue (SOTR), amounting to 88 percent of its total tax revenue for the period from April to November.

Incidentally, the service sector remains the major contributor to Telangana's economy, amounting to 66.3 percent of the Gross State Value Added (GSVA) in FY25 at Rs 9.8 lakh crore.

On the health front, Telangana increased the health insurance limit under Rajiv Aarogyasri from Rs 5 lakh to Rs 10 lakh per family annually.

As per the Economic Outlook, 97 percent deliveries in the landlocked state are occurring in health facilities for safer childbirth and improved maternal and neonatal healthcare outcomes.

Telangana has made significant progress in environmental conservation, with forest cover spanning 27,688 sq km, accounting for 25 percent of the state's geographical area, surpassing the national average of 24 percent, said the Economic Outlook.

The state aims to expand forest cover to 33 percent, managing 12 protected areas, nine wildlife sanctuaries and three national parks, among other initiatives.