Gulte News
Andhra Pradesh has reportedly emerged as a significant hub for investments, attracting a staggering 3.32 lakh crore during the fiscal year 2022-23, as revealed by a joint survey conducted by the MSME Export Promotion Council and the Confederation of Organic Food Producers and Marketing Agencies.
This robust performance in investment attraction places the state at the forefront of economic development since 2019. The cumulative investment garnered by the government, both from the public and private sectors since 2019, stands at an impressive 9,41,020 crore, according to Dr D S Rawat, Chairman of the MSME Export Promotion Council.
The data provided by the Centre for Monitoring of Indian Economy (CMIE) indicates that during this period, completed investment projects in the state amounted to 1,34,419 crore, with pending projects worth 27,110 crore being revived.
In the fiscal year 2022-23, the outstanding investment projects were valued at 17,90,533 crore, and those under implementation amounted to 7,51,980 crore. The study also recommends the establishment of a high-powered monitoring committee to expedite pending projects.
For the same fiscal year, the new investment projects announced by the government totaled 23,293 crore, while the private sector contributed a significant 3,08,893 crore. These figures highlight the state’s continued focus on economic growth and development.
