Budget formulated on expectations of higher GSDP
The Hindu
The State government has declared that the budget presented to the Assembly today was formulated on expectations that there would be significant improvement in Gross State Domestic Product of Telangana in the next financial year.
In his budget speech, Finance Minister T. Harish Rao said the Gross Domestic Product is estimated to contract by 8% in 2020-21 due to coronavirus. In Telangana, the growth of Gross State Domestic Product is likely to be 1.3% while that of GDP at current prices in 2020-21 is estimated to be at minus 3.8%. With the availability of corona vaccine, the society is gradually recovering. The State economy is also on a gradual recovery path.
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