Harish Rao seeks 1% rise in FRBM limit

Hyderabad: Telangana Finance Minister T Harish Rao suggested the Centre to enhance FRBM limit by one per cent from the present 3.5 per cent.

The additional FRBM limit enables the state governments to spend more on infrastructure projects, he said, while adding that market demand should be there for retailers.

Rao further noted that industrial growth also depends upon retail demand.

"I appeal to the Centre to increase the FRBM limit by one per cent. But it should be conditional that state governments should spend that additional money on capital expenditure only.

By developing infrastructure projects, state governments can create revenue sources for people. When earnings of public go up, the demand will also go up. TRS government has taken up Mission Kakatiya and Mission Bhagiratha projects, which are transforming Telangana into a vibrant economy," said the minister, who along with Telangana Governor Dr Tamilisai Soundararajan presented the 'Retail Ratna Awards -2019' here on Friday.

The Telangana Finance Minister appreciated The Hans India for choosing innovative areas of the retailing sector as it included Karimnagar dairy company and Cancer hospital from Vizag, an organic farming shop, etc.

"Global corporates are entering the domestic retail space. You're (retailers) sustaining because of your quality and service," added Rao.

While expressing concerns over the economy slow down, Rao said that the GDP growth rate fell from eight per cent to 4.5 per cent in last six quarters.

"Few days ago, I attended conference of finance ministers from States in New Delhi. I questioned why industrial and business expansion is not taking place.

The Centre says that they reduced corporate tax, providing incentives and paved the way for merger of banks, etc. Then why expansion is not taking place? I suggested the Centre to enhance FRBM limit by one per cent."

According to Harish Rao, domestic saving rate is 30 per cent, out of which 10 per cent is coming to banks and remaining 20 per cent going to gold and realty sectors.

Money should be channeled from gold to public finance institutions such as banks. So that, banks can lend money to keep economic activity growing, suggested Rao.

The Minister recalled the contribution of HM TV and The Hans India during the movement for separate statehood of Telangana, while informing the Governor about the social consciousness and service of the Hyderabad Media Group.

Award category: Special Award

Praxis Home Retail

Umamahesh

Praxis Home Retail Ltd, a part of Future Group, won Special Award from The Hans India as part of the Retail Ratna Award-2019. HomeTown is the largest one stop destination for home interiors in India.

It offers the widest range of high quality and functional furniture, trendy decor products, great quality home furnishings, tableware, kitchenware, modular kitchens and electronics.

HomeTown also offers an end-to-end interior design and project management services where customers can get their full or partial home interiors designed and executed to perfection.

Established in 2007, HomeTown ensures the convince and comfort of home interior shopping with its unique and differentiated service like free home delivery within 72 hours, same day installation of furniture, lifetime maintenance of furniture and kitchens, free service camps at regular intervals. With 49 stores across 28 cities, HomeTown is the one of the most favourite home shopping store in India.

Award category: Health

Mahatma Gandhi Cancer Hospital

Dr V Sita Rama Swamy, Medical Director

Mahatma Gandhi Cancer Hospital & Research Institute has bagged Retail Ratna Award-2019 in healthcare category. The hospital is a unit of Vizag Hospital & Cancer Research Center Pvt. Ltd.

Started in 2005, it emerged as the largest comprehensive exclusive cancer speciality hospital in Andhra Pradesh, Odisha and Chhattisgarh states.

With 100 bedded comprehensive super specialty cancer hospital, the institute has become one of the largest cancer care centers in south India.

This hospital is the first in Andhra Pradesh to have performed over 10,000 complex cancer surgeries, 22,000 radiotherapies, one lakh chemotherapies and 6,000 brachytherapies.

Award category: Emerging Retailers

Karimnagar Milk Producer Co

Chalimeda Rajeshwar Rao

Karimnagar Milk Producer Company Ltd (KMPCL) has bagged the Retail Ratna Award-2019 in the category of Emerging Retailers. It's a mutually-aided cooperative society under AP Co-op Societies Act.

Established in 1997, the society is engaged in farmer welfare activities as it implements several schemes for the farming community. Chalimeda Rajeshwar Rao is the Chairman of KMPCL.

The KMPCL has always been in the service of the dairy farmers of Telangana. It's been playing a pivotal role in the development by procuring and processing of milk.

Apart from procurement, several welfare schemes have been launched by Karimnagar Milk Producer Company to benefit milk producers and cattle.

Some of the welfare schemes include Kalyanamsthu, Pala Nidhi, Bharosa, etc., in addition to this, it provides scholarships and organises Sankranti celebrations.

Award category: Home needs and manufacturers & factory outlets

Timbaktu

Gondi Mahesh, CEO of Dharani FaM Coop Ltd

Sannappaiah, the Training Coordinator of organic farming programme

Timbaktu Shop, a unit of Dharani Farming & Marketing Cooperative Limited (Dharani FaM Coop), has received Retail Ratna Award-2019 in the category of Emerging Retailers.

The Timbaktu Shop primarily sells organic food products under 'Timbaktu Organic' brand.

It also offers body care products and handloom fabrics by encouraging production units of people with disabilities and disadvantaged women.

Dharani FaM Coop is a producer owned and managed enterprise that belongs to 2,068 farmers. Both the Timbaktu Shop and Dharani FaM Coop are promoted by the Timbaktu Collective, a well-known NGO in Ananthapuramu District.

Commenced operations on April 6, 2019, Timbaktu Shop already recorded over Rs one crore of sales so far.

Timbaktu Shop was inaugurated on April 6, 2019 and is located at the intersection of Chennekothapalli and NH44 (Bangalore-Hyderabad Highway).

The shop made sales of more than Rs. 1 crore in its first year of operations