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The service sector of the state accounts for 43% of the gross state domestic product (GSDP) and
employs 20% of the work force.[30] Andhra Pradesh economy has registered over 5.5% annual
economic growth rate during the last two decades. The state is one of the most industrially
developed states of India.
Andhra Pradesh ranks second in India in terms of mineral wealth. The state has about one third of
India's limestone reserves, estimated at about 30 billion tonnes. The Krishna Godavari Basin has
huge reserves of natural gas and petroleum. The state has a large amount of coal reserves.[30] The
state ranks first nationwide in hydro electricity generation, with a national market share of over
11%. Andhra Pradesh has the second largest power generating utility in the country, with an
installed capacity of around 10,650 MW. The two cheapest sources of thermal power generation –
coal and natural gas – are in abundance.
Service sector's contribution to GSDP at 53.6%
The contribution of the services sector to Andhra Pradesh economy and State Gross Domestic
Product (GSDP) is increasing each year and now stands at 53.6 per cent overall, against 50.60 per
cent in 2004-05. During the period, the agriculture sector showed a declining trend in terms of its
contribution to GSDP.
In tune with this trend, the services sector also registered a growth of 9.61 per cent during 2010-11,
boosting the overall economy of the State.
This is followed by industrial sector contributing to the growth by 7.79 per cent and agriculture 8.39
per cent.
Transport and communication sectors have recorded rapid growth. The two-wheeler number is now
at 62.27 lakh, constituting about 72 per cent of the vehicles on road. The Socio Economic Survey
for 2010-11 presented along with the State Budget on Wednesday, mentions that the GSDP,
according to advanced estimates for 2010-11, is at Rs 3,71,007 crore, registering a growth of about
8.89 per cent, as against the national GDP growth of 8.86 per cent.
The services sector accounts for a lion's share of the GSDP from 2004 onwards contributing about
50.60 per cent, followed by agriculture at to about 25.1 per cent and industrial sector 24.3 per cent
during 2004-2005.
The share of agricultural sector in the GSDP has declined from 25.1 per cent in 2004-05 to 21.5 per
cent by 2010-11, and industrial sector has increased marginally from 24.3 per cent to 24.7 per cent,
reflecting stagnation during the period and the services sector increased from 50.6 per cent to 53.8
per cent during the period.
The report prepared by the State Planning Department shows that the per capita income in the State
at current prices is estimated at Rs 60,224 for 2010-11 , registering a growth of 18 per cent over
previous year's Rs. 54,527. The all-India growth during the year has been 17.3 per cent.
The cropped area for 2010-11 is estimated at 78.08 lakh hectares, reflecting an increase of 17 per
cent over last year's area under agriculture. The total foodgrain production for 2010-11 is estimated
to be 189.78 lakh tonnes, an increase of 22 per cent over previous year.
The cropped area under horticulture crops was at 19.60 lakh hectares.
During the year, additional 22.94 lakh acres has been brought under irrigation under the Jalayagnam
programme, which seeks to bring more area under cultivation through new irrigation projects.
The IT sector has achieved a new peak of turnover of Rs.33,482 crore during 2009-10, creating
total employment of 2.64 lakh in the State.
REGISTERED FACTORIES
Section Under Factories
Definition No.of Factories
Act
2m(i): Factories employing 10 or more workers using power 24,429
Factories employing 20 or more workers without using
2m(ii): 777
power
85(i): Notified factories employing less than 10 workers 15,118
Total 40,324