Telangana's per capita income has doubled in six years, says state FM

Aug 24, 2021, 10:21 IST

T Harish Rao, the state's finance minister, released a report on the state's finances.

While India's GDP grew at a negative rate of 3 per cent in 2020-21 owing to the pandemic, the state grew at a positive pace.

T. Harish Rao, Telangana Finance Minister, spoke to the media at a news conference at MCR-HRD in Hyderabad.

Telangana's Gross State Domestic Product (GSDP) has grown at a healthy rate, according to Finance Minister Harish Rao.

Hyderabad: Telangana Finance Minister Harish Rao stated on Monday that the state's per capita income has nearly doubled in the last six years, and it now leads the country in state-owned tax collections by 90%.

Telangana has achieved good development in terms of Gross State Domestic Product (GSDP), and per capita income indicates the strongest state economy, according to Finance Minister Harish Rao, who spoke to the media about the state economy.

"Telangana's annual average growth rate of GSDP was the highest among all Southern states at 11.5% since 2014-15. During the epidemic COVID-19, while India experienced negative growth in GDP, but Telanagana was still positive with 2.4%," said Rao.

Rao further said, "the state's per capita income has almost doubled in six years and the state tops the country in the state-owned tax revenues as it has increased state-owned tax revenues by 90% in the last 6 years."

During his 'Jan Ashriwad Yatra' across the state, Rao responded to Union Minister G Kishan Reddy's accusations against the state's economy.

"As long as Chief Minister K Chandrashekar Rao and the Telangana Rashtra Samithi party are in Telangana state, neither Congress nor BJP can come into power and both Kishan Reddy and Bandi Sanjay Kumar always put other parties down in front of them and target the Government of Telangana," Rao stated.