Hyderabad: Telangana’s economy has performed better than India by registering faster growth in GSDP and per capita income (PCI) in 2024-25, revealed deputy chief minister Mallu Bhatti Vikramarka during his Budget speech in the Legislative Assembly on Wednesday.
Similarly, the state has a better labour force participation rate of 68.7 per cent compared to the national average of 64.3 per cent. Notably, female workforce participation in the state stands at 52.7 per cent, which is significantly higher than the national average of 45.2 per cent.
Telangana’s Gross State Domestic Product at current prices stands at Rs.16,12,579 crore, registering a growth rate of 10.1 per cent in 2024-25, compared to previous year. During the same year, India’s GDP was Rs.3,31,03,215 crore, with a growth rate of 9.9 per cent. The state’s per capita income stands at Rs 3,79,751 with a growth rate of 9.6 per cent against India’s GDP of Rs 2,05,579 and growth rate of 8.8 per cent.
“Clearly, Telangana per capita income is higher by 1.8 times over India’s per capita income of `1,74,171 , reflecting the state’s strong economic progress,” said Bhatti Vikramarka.
In 2024-25, Telangana Gross State Value Added (GSVA) was primarily driven by the service sector, which contributed 66.3 per cent followed by agriculture and allied sectors at 17.3 per cent and industrial sector at 16.4 per cent.
Although the agriculture and allied sectors contribute a smaller share to the GSDP, they provide employment to 42.7 per cent of the total workforce in the state. The state government’s initiatives such as free electricity, Rythu Bharosa, crop loan waiver and investments in irrigation projects have boosted farmers’ confidence and strengthened the agriculture sector.
“At the same time, to further enhance the agriculture sector, we are actively promoting horticulture, animal husbandry and aquaculture, ensuring diversified and sustainable growth for farmers,” he said.
The industrial sector in Telangana provides employment to 22.5 per cent of the workforce.
“By adopting the “China+1″ strategy, the government aims to develop Telangana into a global manufacturing hub in key sectors such as pharmaceuticals, biotechnology, electric vehicles and renewable energy. The development of industrial corridors and special economic zones (SEZs) will help attract more investments and create greater employment opportunities. This, in turn, will contribute to a more stable and rapidly growing economy.” he said.
The service sector remains the largest employment provider in the state, accounting to 34.8 per cent of the total workforce. Hyderabad has emerged as a leader in the IT sector, significantly contributing to employment growth, particularly in software services, fintech, logistics and tourism.
“These statistics highlight Telangana’s success in creating employment opportunities, particularly for women and underprivileged communities,” the minister said.
