Andhra Pradesh has been galloping ahead on the road to progress and prosperity at incredible speed in the last four years. Till 2004... every other day, the State had to depend on overdrafts on the RBI to meet its commitments including clearance of bills and payment of salaries. Large sections of people were thrown out of jobs as Government undertakings were shut down and farmers resorted to suicide unable to repay loans they had taken at high rates of interest. Dr. Y. S. Rajasekhara Reddy who took over as Chief Minister in May 2004 acted swiftly to arrest the deteriorating economic situation. He went to the rescue of desperate farmers by offering them free power and waiving their power bill arrears. He came up with new industrial and investment policy attracting investors. And, adopted a multi-pronged programme for comprehensive development of the state. It is fructifying now with the following results: > AP's IT growth rate tops that of the nation. > Andhra Pradesh today stands second in the country in attracting investments in manufacturing. > It records an all-time high food production. > AP women SHGs are the biggest beneficiaries of bank loans in the entire country. > It has earned distinction for its prudent financial management > AP tops all States in terms of annual Plan outlay. > It has become a pioneer in building homes, providing work (NREGS), making costly surgeries accessible and granting pensions to the poor. Andhra Pradesh demonstrates that growth with equity is feasible in a short time, provided the leadership is committed and determined. With double-digit growth AP overtakes nation For the first time since Independence, Andhra Pradesh has entered into an era of double-digit growth with the current year (2007-08) expected to witness 10.37% growth. The growth rates in agriculture, industry and services are all higher than national growth rates. Higher growth has resulted in buoyancy in revenues, which in turn has facilitated massive investments in irrigation, infrastructure and welfare sectors. The Annual Plan outlay of Rs.30,013 crore for 2007-08 is the highest for any State. It is jumping to Rs.43,000 crore during 2008-09. Andhra Pradesh is indeed in a virtuous growth cycle. IT's growth, a record in the country That IT accounts for 52 per cent of overall exports from Andhra Pradesh testifies to its spectacular growth. AP registered a growth of 48.44% in IT exports during 2006-07, against the national growth rate of 32%. And this year, IT exports are expected to cross Rs 25,000 crore. Andhra Pradesh is today home to the who's who of the IT, thanks to the initiatives taken by the Government in the last four years. The IT sector is destined to sparkle further with the Government of India sanctioning 40 IT Special Economic Zones (SEZ) to AP the highest number for any State