15% annual growth vital for achieving $ 2.7 trn GSDP: Chandrababu Naidu

Chief Minister N Chandrababu Naidu on Thursday unveiled a series of economic growth projections for Andhra Pradesh, saying that an annual growth rate of 15 per cent over the next 22 years is essential to achieve a GSDP of USD 2.74 trillion by 2047.

Addressing a press conference at the CM's Office, Naidu emphasised that maintaining a consistent growth rate of 15 per cent would result in a GSDP of Rs 347 lakh crore (USD 2.74 trillion) by 2047, along with a per capita income of Rs 58 lakh (USD 45,787).

If the state's income increases, personal income will also rise. The combined wealth of everyone in the state becomes the state's wealth. Now, I am planning for a 15 per cent growth rate, which will lead to a GSDP of Rs 347 lakh crore by 2047 and a per capita income of Rs 58 lakh. Today, the per capita income is Rs 2.68 lakh, said Naidu.

According to the Chief Minister, doubling the growth rate would quadruple income. He emphasised that development is key to achieving these targets and realising the vision of Swarna Andhra 2047.

The TDP supremo noted that he has paved the way for growth by introducing 20 to 25 policies and promised to ensure that the right people are placed in the right positions to execute these plans effectively.