For The Global Competition, KTR Wants The Centre To Help The StatesNovember 17, 2021 13:06
For The Global Competition, KTR Wants The Centre To Help The States:- Telangana IT and Industries Minister KT Rama Rao suggested that the Centre should financially fund the states fo perform well and participate in the global competition. He suggested that the Pension Fund and Sovereign Fund should be given to the states for the capital investment. KTR participated in the video conference with the Union Finance Minister Nirmala Sitharaman and he asked the state's borrowing limit to be increased by 2 percent under the Fiscal Responsibility and Budget Management (FRBM) Act. This will help in the GDP growth of the country. "If we follow the federal spirit and implement the decentralization, the states will be strengthened and will help in the country's growth" told KTR.
Participating in the video conference of the Chief Ministers & the Finance Ministers of different States, chaired by Union @FinMinIndia @nsitharaman, Minister @KTRTRS said there were plenty of opportunities for investors who are eager to set shop in India https://t.co/AlAv7r03hv pic.twitter.com/ADYAll6rju— Minister for IT, Industries, MA & UD, Telangana (@MinisterKTR) November 16, 2021
"The Telangana state is contributing five percent to the GDP and it is the fourth-largest contributor of the country's economy. The state's per capita income is Rs 2.37 lakh which was Rs 1.24 lakh in the year 2015. Telangana's GSDP is Rs 9.8 lakh crore against Rs 5 lakh crore when the state of Telangana was formed. I urge the Union Finance Minister to encourage investments in the fields of garments, toys, textile, engineering goods and leather so that there would be more employment for the above fields. Productivity-lined incentives to the sector of MSME would contribute 30 percent of the GDP. An increase in tax devolution to the states from the divisible pool would do good benefits for the state" told KTR during his speech.