Financial system yet to recover from slump effect: Harish Rao

Hyderabad: Finance Minister T Harish Rao said that his heartbeat went up when Chief Minister K Chandrashekar Rao announced slew of sops for RTC workers as he has to manage the State finances, to adjust the available fund resources and use them judiciously within limits.

Participating in CFO (Chief Financial Officers) - 2019 conference organised by CII here, the Minister said that the economic slowdown affected the State economy to some extent and the government is taking all necessary measures to revive the economy.

"Currently, I have to be cautious on financial spending. As Irrigation Minister in the previous government, I worked hard for the completion of the projects and now my role is totally different and changed," he added.

The State was making rapid strides in all sectors and emerged as number one in Ease of Doing Business, Harish said while praising IT & Industries Minister K T Rama Rao for his hard work to get huge investments to the State.

The bankers were holding melas for the first time to disburse loans to industrialists. He asked the bankers and industrialists to give suggestions to the government to improve the finance sector as it was spending huge money on welfare and pensions.