State Performed Better in Financial Development: Harish Rao
Hyderabad, Aug.23 (Maxim News): Finance Minister T Harish Rao today stated that the State performed better in GDP and financial development. The state has recorded 11.5 percent financial growth in 7 years of the TRS Government rule, he said. India achieved 7 percent of growth in six years while our state’s growth is 3 per cent more than that, the Finance Minister claimed.
Harish Rao said that the national financial growth was put at only 7 percent. With this Telangana growth rate 3 percent more than that of the Centre, the finance minister told a press conference here in the city. The BJP Government at the centre could not surpass Bangladesh in per capita income and growth rate, he said.
The Finance Minister claimed that due to policies of Chief Minister K Chandrasekhar Rao, the state achieved record growth and financial development. Telangana has achieved 11.50 percent of development in the financial sector while it is just 7 percent at national level, he maintained.
The Minister said that the state is fast developing in all sectors with adept policies by the state government. National GDP is less than neighbouring Bangladesh GDP and what will union minister G Kishan Reddy reply on this, Harish Rao asked.
He also said that the state showed better performance in per capita income as it was put at 2,37,632 which is 1.84 percent more than of the national per capita income. State per capita income which was 10th place in 2014 was doubled in six years. National per capita income is 48.7 percent in six years, he said and asked Kishan Reddy to reply on this.
Harish Rao said that the state is at top in its own tax revenues. Telangana saw 11.52 percent growth in state tax revenues. (Maxim News)