Hyderabad: Telangana State’s continuing importance in the national economy was underlined by IT and Industries Minister KT Rama Rao who pointed out that the State’s contribution to the Central kitty was a whopping Rs 2,72,926 crore since 2014 when the State came into existence.
“The people of Telangana should know that since 2014, our State’s contribution to the Centre in the form of taxes is a whopping Rs 2,72,926 crore whereas what the Centre has released to Telangana is Rs 1,40,329 crore!” the Minister said in a series of tweets on Sunday highlighting Telangana’s rapid progress and its emergence in the national arena as a State to reckon with.
Stating that Telangana continues to be a pillar of strength for the country, Rama Rao pointed out that the State’s Gross Domestic Product (GSDP) and Per Capita Income had shot up because of the huge capital investment that the State had undertaken.
“The growth in GSDP and Per Capita Income was achieved with investments in key infra sectors and increased capital expenditure. At the same time, fiscal prudence was balanced,” he said and observed that Telangana, with 22.8 on the debt-GSDP ratio, was among the top five States with low debt-GSDP ratio.
Attributing Telangana’s phenomenal progress to able leadership, progressive policies, and an ear to the ground that facilitated the State to thrive, the Minister said: “Telangana has been consistently achieving much higher GDP growth rate than the country’s average growth rate since the past six years.”
Telangana’s growth, he said, has been inclusive and focused on agriculture, industry, and services sectors that improved per capita income. “While the growth of Per Capita Income of our country during 2014-2020 was at 54.9 percent, Telangana grew at a whopping 83.9 percent,” he said.
