Large-scale employment opportunities are being created in the private sector in Andhra Pradesh with the State's intervention as industrial investments worth Rs 11,500 crore are set to be made in the state in 2016-17, Finance Minister Yanamala Ramakrishnudu has said.

"With an economic growth rate of 10.99% in 2015-16 and a targeted growth of 15% in 2016-17 fiscal, better job opportunities will be created in the private sector," the Minister said in a statement.

As many as 77,737 posts of different cadres were currently vacant in various departments of the state government, he said.

Also read Andhra Pradesh gives nod to fill up 20,000 government posts

The total number of sanctioned posts was 4,83,491 while 4,05,754 employees were currently on government rolls in various departments.

Of the total vacancies, 22,226 were state cadre and multi-zonal posts.

"The vacancies include posts to be filled by direct recruitment, promotion and transfer from other services. The direct recruitment to any cadre is usually around 25 to 30% of the total cadre strength. Therefore, the posts available for filling through direct recruitment is around 20,000," the Minister added.

The state Cabinet, at its meeting on April 2, gave the go-ahead for filling up the 20,000 vacancies for which the process would be initiated soon.

"The last grade posts are usually filled through outsourcing of services or by contracting services on the short-term basis," he said.

"The fast transforming technologies, rapidly changing structure of the economy, as well as the mutating role of the government requires that government departments be revamped. The old style of functioning of government departments may not be able to meet the ever-growing aspirations of the people," Yanamala said.

The government, hence, intend to conduct a review of all the posts to determine which of them needed to be filled up, he added.

Noting that providing "sustainable and productive employment" to those in need of a job was the principle pillar of the state government policy, he said employment only in government was not the solution.

The percentage of expenditure on the establishment is presently 55% of the total state's revenue. The opportunities should flourish in the private sector as well, the Minister added.