KTR seeks Centre's balm for State's development

Hyderabad: Telangana Industry and IT minister KT Rama Rao has requested the Union government to extend all kinds of support to help the State compete at international level for development.

Participating in video conference with Chief Ministers and Finance Ministers conducted by Union Finance Minister Nirmala Sitharaman from New Delhi, the minister said that the Telangana was one among the fast developing States in the country. The RBI report also acknowledged the Telangana growth in GSDP, per capita income, agricultural and industrial sectors steadily.

KTR urged the union minister to conduct a study on the growth prospects in every State and help them to emerge as growth centres at international level. He also asserted the promotion of dry ports, textiles, life sciences etc. The minister said also sought permission for the States to utilise Provident Funds as investment.

The Telangana minister also brought to the notice of Nirmala Sitharaman about the pending ITIR project and six industrial corridors which have been proposed to encourage defence, electronics, textiles and pharmaceutical industry. He pleaded with the union minister to sanction Bayyaram steel plant and railway coach factory.

KTR explained the financial woes faced by the States and requested to earmark more funds through tax devolution. The increasing cess burden has affected badly Divisible Pool, he said and demanded to implement 15 th Finance Commission recommendations and also extend tax incentives as promised in the AP Reorganisation Act.