AP Plans To Develop

The Andhra Pradesh Industrial Infrastructure Corporation (APIIC) is developing border districts of the State to grab the opportunities thrown up by the non-availability of land in Karnataka and Tamil Nadu.

APIIC is eyeing at developing industrial zones in these areas as it could attract more industries to set up operations. Andhra Pradesh lost a lot of opportunities in the past to the two neighbours as there was no proper infrastructure developed in these areas. For instance in Tamil Nadu, Sriperumbudur and Gummidipundi districts have no land available for potential investors and in the same way in Hosur and Doddaballapur districts of Karnataka land has already been allotted and no further space is available for future allotment.

AP Cabinet Approves Sales Tax Slash On ATF

Hyderabad: The Andhra Pradesh Cabinet on March 17 permitted the lowering of sales tax (ST) from 33 per cent to 4 per cent on aviation turbine fuel (ATF) along with bringing down professional tax from 14 to 4 per cent. The professional tax cut is set to gain about 10 lakh employees. According to Government sources, the Cabinet also permitted the dissolution of Hyderabad Urban Development Authority and creation of Hyderabad Metro Development Authority to govern the urban area in and around Hyderabad.

AP Govt Forecasts Economic Growth Exceeds National Trend

Hyderabad: The Andhra Pradesh Government has forecasted that the State''s economic growth at 9.83 per cent and per capita growth rate have exceeded national economic growth trends. Following a review meeting of the Chief Minister, Dr Y.S. Rajasekhara Reddy, with the Special Chief Secretary, Planning, Mr A.K. Goel, these numbers were released by the Chief Minister''s Office. The economic growth rate of the nation this year will be 8.5 per cent, while the growth rate during 2007-08, according to revised estimates, will be only 8.9 per cent. This is because of the shortage of essential commodities, fall in growth rate of trade, business, hotel, transport and communications, and comparative decline in agricultural growth rate. While the per capita growth in the three quarters this year for the nation is 7.3 per cent, Andhra Pradesh recorded 8.3 per cent growth.

The State is hopping a buoyant performance by agricultural and allied sectors. The cumulative quarterly Gross State Domestic Product (GSDP) from April to December 2007, at factor cost at constant (1999-2000) prices of 2007-08 is estimated at Rs 1,46,227 crore as against Rs 1,33,138 crore over corresponding period of previous fiscal of 2006-07, a growth rate of 9.83 per cent. The methodology followed in estimations of quarterly GSDP is as that of the Quarterly Gross Domestic Product (QGDP) compiled by Central Statistical Organisation. Directorate of Economic and Statistics estimates the Quarterly Gross State Domestic Product (QGSDP). The agriculture sector contribution during the cumulative third quarter of 2007-08 at constant (1999-2000) prices is estimated at Rs 26,539 crore as against Rs 23,660 crore in the corresponding period previous year, a growth of 12.17 per cent.