AP targets 15 pc growth rate under Swarna Andhra 2047 vision: CM Naidu

Amaravati, June 22 (TNT): Andhra Pradesh Chief Minister N Chandrababu Naidu on Monday reiterated that the state has set an ambitious target of achieving a 15 per cent growth rate as part of its Swarna Andhra 2047 vision.

Speaking after the State Planning Department signed a Memorandum of Understanding (MoU) with the Institute for Financial Management and Research (IFMR) under KREA University, Naidu said Andhra Pradesh had achieved a Compound Annual Growth Rate (CAGR) of 13.5 per cent between 2014 and 2019, while the current growth rate stands at around 11 per cent.

The MoU was exchanged between State Planning Department Principal Secretary Piyush Kumar and IFMR representative Kapil Viswanathan.

Under the agreement, IFMR will support the implementation of the ten guiding principles of the Swarna Andhra 2047 Vision and assist in establishing Mission Cells to achieve Gross State Domestic Product (GSDP) targets and higher growth rates.

The institute will work with the state government on key initiatives including the Zero Poverty Mission, Water Security Mission and Deep Tech Mission.

It will also undertake field-level studies, provide policy recommendations and suggest innovative approaches for implementing the ten principles.

A State-Level Committee and Mission Working Groups will be constituted to monitor and facilitate implementation of the programme.

Naidu said the government is integrating deep technologies across sectors to accelerate development and noted that Andhra Pradesh has attracted investments in AI skilling, drone mapping, automobiles, metals, steel, rare earth minerals, semiconductors and defence manufacturing.

He said the state is also promoting Artificial Intelligence (AI) and Quantum Technologies on a large scale to drive future growth.

Minister Payyavula Keshav, representatives of KREA University and IFMR, and senior Planning Department officials attended the programme.

TNT KM