AP targets 15% growth rate

Metro India News | AMARAVATI

Andhra Pradesh has set an ambitious target of achieving a 15 percent economic growth rate as part of its long-term Swarna Andhra 2047 Vision, Chief Minister N. Chandrababu Naidu said on Monday. Emphasizing the government’s commitment to transforming the state into a high-growth economy, the Chief Minister stated that Andhra Pradesh had achieved a Compound Annual Growth Rate (CAGR) of 13.5 percent between 2014 and 2019 and is now working to accelerate growth beyond the current 11 percent level.

In a significant step towards realizing the Vision 2047 goals, the State Planning Department signed a Memorandum of Understanding (MoU) with the Institute for Financial Management and Research (IFMR), which operates under KREA University. The partnership is aimed at supporting the implementation of the ten guiding principles that form the foundation of the Swarna Andhra vision.

The agreement was exchanged between Planning Department Principal Secretary Piyush Kumar and IFMR representative Kapil Viswanathan in the presence of senior officials and policymakers.

Under the collaboration, IFMR will provide strategic and technical support for the establishment of Mission Cells designed to achieve Gross State Domestic Product (GSDP) targets and accelerate economic growth. The institute will also work closely with the state government on flagship initiatives such as the Zero Poverty Mission, Water Security Mission, and Deep Tech Mission.