New Delhi, July 22 (KNN) The current fiscal year and the following year are likely to steer smooth with a growth in the industrial sector of the region. Also the Micro, Small and Medium Enterprises (MSME) are to play an important role in the growth, Andhra State Government projects.

Finance Minister for the state of Andhra Pradesh, Yanamala Ramakrishnudu, during the press meet at a review meeting with industries on Gross State Domestic Product made the statement.

The Minister informed that the construction sector industry has registered impressive figures since there are many housing and development programs happening in the state. Also private players engagement in the housing and construction sector is to further boost the growth.

The Minister added that despite speculations over the growth rate of industry due to the downward trend at the global level, the state of Andhra Pradesh remain largely unaffected.

Yanamala also informed that the state government Is planning a new roadmap for the minerals and mining sector, once the blue print is implemented, this would significantly add to the overall growth of the state.

Also a revised framework for the MSME sector with subsidies and incentives is underway, that will help realise the predicted growth rate at 11-12 per cent. (KNN/ DA)