Economy of Telangana

Economy of Telangana
Financial District of Hyderabad, the capital of Telangana.
1 April – 31 March
Statistics
GDP₹16.5 lakh crore (US$200 billion) (2024-25 est.) [1]
GDP rank8th
GDP growth
11.9% (2023-24 est.)[2]
GDP per capita
₹393,385 (US$4,700) (2023-24) [3]
GDP per capita rank
5th
GDP by sector
Agriculture (21%)
Industry (17%)
Services (61%) (2021-22)[2]
Positive decrease 7.46% (2019-20)[4]
Population below poverty line
Positive decrease 5.77%
Labour force by occupation
Agriculture (45.8%)
Industry (21.0%)
Services (33.2%) (2020-21)[4]
UnemploymentPositive decrease 7.4% (June 2021)[5]
Average gross salary
256465
211344
Public finances
29.29% of GSDP (2024-25 est.)[2]
₹−52,167 crore (US$−6.3 billion) 4.0% of GSDP (2022-23 est.)[2]
Revenues₹2.97 lakh crore (US$36 billion) (2022-23 est.)[2]
Expenses₹3.55 lakh crore (US$43 billion) (2022-23 est.)[2]
All values, unless otherwise stated, are in US dollars.
Coal Handling Ropeway at Aswapuram, Khammam district

Telangana is one of the fastest-growing states in India posing average annual growth rate of 13.90% over the last five years.[6] Telangana's nominal gross state domestic product for the year 2024-25 stands at ₹13.59 lakh crore (US$200 billion). Service sector is the largest contributor to the Telangana's economy with a share of about 65% in the year 2018-19. Growth in services has largely been fuelled by IT services with the State holding leading position in IT & ITeS in the country in terms of production and exports.[7]

Around 54% of GDP comes from Hyderabad metropolitan . Agriculture also form a backbone of Telangana's Economy. Two important rivers of India, the Godavari and Krishna, flow through the state, providing irrigation. Farmers in Telangana mainly depend on rain-fed water sources for irrigation. Rice is the major food crop. Other important local crops are cotton, sugar cane, mango and tobacco. Recently, crops used for vegetable oil production, such as sunflower and peanuts, have gained favour. There are many multi-state irrigation projects in development, including Godavari River Basin Irrigation Projects.

The state has also started to focus on the fields of information technology and biotechnology. There are 68 Special Economic Zones in the state.[8]

Telangana is a mineral-rich state, with coal reserves at Singareni Coal mines.[9]

  1. ^ "Telangana Budget Analysis 2024-2025". PRS Legislative Research. p. 1. Retrieved 31 August 2024.
  2. ^ a b c d e f "Telangana Budget Analysis 2023-24". PRS Legislative Research. Retrieved 12 March 2022.
  3. ^ "Gross State Value Added in Current Prices". Ministry of Statistics and Programme Implementation. p. 1. Retrieved 31 August 2024.
  4. ^ a b "Socio Economic Outlook 2023" (PDF). telangana.gov.in. Planning Department, Government of Telangana. Retrieved 23 February 2023.
  5. ^ "Unemployment Rate in India". Centre for Monitoring Indian Economy. p. 1. Retrieved 23 June 2021.
  6. ^ N. Rahul. "State economy growing faster than nation's". The Hindu.
  7. ^ "Telangana leads the country in services sector growth". The New Indian Express.
  8. ^ "TG Special Economic Zones" (PDF). sezindia. Archived from the original (PDF) on 7 October 2009. Retrieved 3 June 2014.
  9. ^ "The Singareni Collieries Company Limited". scclmines. Retrieved 3 June 2014.