HYDERABAD: Andhra Pradesh aims at achieving an economic growth rate of around 9.5 to 10 per cent during the 12th Plan period (2012-2017) and accordingly will seek Central assistance and its share from divisible pool of resources for better implementation of development schemes.Chief minister N Kiran Kumar Reddy is expected to make this growth rate projection at the National Development Council conference in Delhi on Saturday.According to the chief minister’s office, investments of the order of `3.07 lakh crore have either already come or in the pipeline.They include Bharat Dynamics Ltd units at Anantapur for manufacturing missiles, NTPC-BHEL power plant equipment project at Mannavaram, Srikalahasti and Bharat Electronics Limited’s unit at Anantapur.In spite of the recent agitations, AP is still able to attract industrial investments.The chief minister expressed satisfaction over the report of Knight Frank, a property consultant, ranking AP among the top five manufacturing destinations in the country. He hoped that after the Global Partnership Summit, more investments would flow into the state.According to Knight Frank report, the output of the six major sectors— petroleum, food processing, cement, chemicals, metal and electrical machinery in AP would soar to around Rs. 6 lakh crore over the next five years from the existing Rs. 2.31 lakh crore.Terming the petroleum sector as the leading light of AP, Knight Frank said that the sector would help the state chart a growth going forward thanks to the Compounded Annual Growth Rate (CAGR) of 28 per cent, stimulating the state’s petroleum sector’s output to Rs. 2.07 lakh crore in 2015-16 as against Rs. 59,400 crore in 2010-11.
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