Andhra Pradesh to witness huge spike in investments next month: Minister

Velagapudi: Minister Chelluboina Venugopala Krishna praised chief minister Jagan Mohan Reddy for creating industrial-friendly policies and succeeding in attracting investors to the state.

He was speaking to reporters during the investor summit in Visakhapatnam. He said, “Andhra Pradesh is the fastest-growing state in the country with a GSDP of 11.43% in 2021-22, which is 2.73% higher than the national growth rate. Even in covid times, when the Centre’s growth rate was declining at -6.6%, Andhra Pradesh recorded a positive growth rate of 0.08%. Another remarkable statistic is that Andhra Pradesh’s per capita income is 38.5% higher than the rest of the nation.”

He further said that ever since Jagan donned the chief minister’s hat, AP is ranked number one in the country in ease of doing business for four consecutive years.

“We are proud of what Andhra Pradesh has achieved despite what happened to us during bifurcation. We are a shining example of development despite the debts we are still paying off taking by the previous TDP regime,” he said.

Elaborating on CM Jagan’s extended support to the MSME (medium and small medium enterprises) sector, the minister said, “Andhra Pradesh is the only state to give wide market preference to MSMEs in all government procurements. CM Jagan government has extended a restart package to MSMEs to overcome the financial crisis that kicked off during the COVID-19 crisis.”