State targets 9.5% growth in 12th Five Year Plan

HYDERABAD: Chief minister N Kiran Kumar Reddy said that the state is committed to set an ambitious target of 9-9.5 per cent growth rate for the 12th Five Year Plan period (2012-13 to 2016-17). He said that all the three sectors of the economy - agriculture, industry and service sectors - in the state have registered an impressive growth of 7.93 per cent during the 11th Plan period.Speaking at the regional consultations of chief ministers of southern states on the approach paper to the 12th Five Year Plan at Bangalore on Friday, chief Minister Kiran Kumar Reddy elaborated the preparedness of the Andhra Pradesh government and identifying the appropriate growth strategies. “Development and welfare have been the twin-agenda of Andhra Pradesh which is blessed with a competitive edge in several areas and is expected to be so in the years to come,” he said.Impressing upon the theme of the 12th Five Year Plan as ‘Faster, More inclusive and Sustainable growth’, the chief minister said Andhra Pradesh government has succeeded in effective implementation of fiscal responsibility and budget management (FRBM) Act. He said a prudent financial management through efficient mopping up of resources and their judicious deployment has continuously decreased fiscal deficits and also eliminated revenue deficit.Kiran Kumar Reddy said that the economy of Andhra Pradesh suffered severely due to natural calamities resulting in a cumulative loss of Rs 20,000 crore. “There is a need to increase the amount of relief provided to victims of natural calamities like farmers, weavers, and fishermen  considering the rising costs. Unless the state is compensated suitably in this regard, it feels increasing difficulties in complying with FRBM norms,” he explained.The chief minister said that the state government is committed to implement all the developmental programmes that are useful to the larger section of the society, particularly the under-privileged with a broad inclusive strategy during the 12th Plan period. He explained in detail about the strategies of the state government for development of agriculture, industry and service sectors apart from power, irrigation, employment, education and health.