Andhra Pradesh govt targets 15 pc growth under Vision 2047
Amaravati, June 22 : The Andhra Pradesh government has signed an agreement with the Institute of Financial Management and Research (IFMR) to work on achieving the ambitious 15 per cent growth rate set under ‘Swarnandhra Vision 2047’.
The State Planning Department and IFMR, a part of KREA University, signed the Memorandum of Understanding in the presence of Chief Minister N. Chandrababu Naidu at the State Secretariat on Monday.
Naidu stated that a growth rate of 15 per cent has been set as a target under the Swarnandhra Vision 2047. He noted that a Compound Annual Growth Rate (CAGR) of 13.5 per cent was achieved between 2014 and 2019, while the current growth rate stands at 11 per cent due to various factors.
The agreement focuses on implementing ten key principles to achieve the goals of the vision. Piyush Kumar, Principal Secretary of the State Planning Department, and Kapil Viswanathan, representing IFMR, exchanged the agreement documents.
IFMR will oversee the implementation of programmes and the establishment of ‘Mission Cells’ dedicated to the ten principles, aiming to boost the Gross State Domestic Product (GSDP) and growth rate.
The institute will collaborate with the state government on initiatives such as the Zero Poverty Mission, Water Security, and Deep Tech Missions. Field-level studies, policy recommendations, and innovative approaches will be undertaken, with other aspects to be worked on in subsequent phases.
In addition to a state-level committee, ‘Mission Working Groups’ will be constituted to oversee the implementation of the ten-point agenda.
Naidu announced that ‘deep tech’ is being integrated to drive development across various sectors. He said Andhra Pradesh has secured projects in areas such as AI skilling, drone mapping, automobiles, metals, steel, rare earth minerals, semiconductors, and defence. He further stated that AI and quantum technology are being promoted on a large scale within the state.
Finance Minister Payyavula Keshav, representatives from KREA and IFMR, and officials from the Planning Department attended the event.