Economic development must take precedence over political gains: KT Rama Rao

Posted: Posted Date – 4:19 PM, Mon – 6 Jun 22

Hyderabad: Stating that economic development must take precedence over political gains, Industry and Information Technology Minister KT Rama Rao urged the union government to support progressive states like Telangana. He accused the Center of providing no support to states politically not aligned with it.

In releasing the Department of Industries’ performance report on Monday, he said Prime Minister Narendra Modi used the terms ‘Team India’ and ‘Cooperative Federalism’ but that these were just empty words for the same advantages were not accorded to all States.

Telangana’s GSDP increased from Rs 5.05 lakh crore in 2014-15 to 11.5 lakh crore in 2021-22. This is a growth of approximately 123% over the eight-year period. Telangana’s per capita income was Rs 1.24 lakh in 2014-15 and has now risen to Rs 2.78 lakh in 2021-22. “Telangana has grown despite demonetization, the Covid-19 pandemic and lack of central government support,” Rama Rao said.

Telangana has set up the International Arbitration and Mediation Center (IAMC) in Hyderabad as part of the Ease of Doing Business standards. Instead of supporting the new center with funds, the Indian government has set up a competing body in Gujarat and is providing support. Efforts should be aimed at developing all states, Rama Rao said.

“Economic development should be center stage and take center stage at all times. Politics should take a back seat. We shouldn’t think about elections forever,” he said, adding that many initiatives announced by the union government were limited to simple slogans.

The Minister recalled that the Prime Minister was talking about India becoming a $5 trillion economy. “How will it be if we don’t think about scale? We have to work together on this. If Telangana can think of creating the biggest pharmaceutical manufacturing cluster, the biggest textile park and also the biggest medical device park, why can’t the Indian government think of achieving scale,” he said. said, adding that stronger states would mean a stronger country.

Referring to the PA Reorganization Act, Rama Rao said that although special incentives were promised for both Telangana and its sister state Andhra Pradesh, there was no progress. . Telangana advocated sanctioning six industrial corridors but the state received no support for this. “When we advocate for a project, it is for the future of the state,” he said.

About 35 years ago, India and China had similar sized GDPs. China today emerged a $16 trillion economy as it focused on economic development. It has boasted double-digit growth for over 25 years. “India, on the other hand, had its priorities misplaced and we are still a $3 trillion economy,” he said.

Meanwhile, Telangana, through its flagship industrial policy TS-IPASS, has attracted investments of Rs 17,867 crore in 2021-22 through 3,938 new industries and created jobs for 96,863 people. Cumulatively, TS-IPASS has attracted 19,454 industries so far in eight years, investments of Rs 2.32 lakh crore and created jobs for 16.4 lakh people.

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