BRS doubts govt.’s trillion dollar economy plans

HYDERABAD

Bharat Rashtra Samithi (BRS) Whip in the Assembly K.P. Vivekanand has asked the government to explain to people how it plans to achieve the one trillion dollar economy by 2034 and three trillion by 2037, when the Cabinet members repeatedly say that the State’s coffers are empty.

Participating in the general discussion on the annual financial statement (budget) for 2026-27 in the Assembly on Tuesday, he said the State’s GSDP was ₹17.82 lakh crore and it would require to reach ₹93 lakh crore, at the present dollar-rupee conversion rate, by 2034 with an average annual growth rate of 20.7%. He pointed out that such a huge growth rate could not be achieved by the US, China, South Korea, and Japan so far after the World War-II.

Despite the impacts of demonetisation, COVID for two successive years and GST on the State’s economy, the average compound annual growth rate achieved by Telangana under 10 years of BRS governance was 12.5% and it had come down to 10.3% after the Congress took over.

Referring to the repeatedly claims of the ruling party that the State’s economy was in doldrums and the coffers were empty, the BRS MLA sought to know whether the economic survey introduced in parliament recently and the 16th Finance Commission report, which spoke of commendable progress made by the State in 10 years from 2014, or the claims of the Congress Government were correct and it was planning achieve the one-trillion economy.

He mentioned that the economic survey report had attributed the huge increase in cultivated area from 1.31 crore acres (2013-14) to 2.32 crore acres (2023-24) in Telangana to Kaleshwaram project and other interventions and the capital expenditure in Telangana was much higher compared to larger States.

Cong. counter

Congress member K. Madanmohan Rao said the one-trillion economy by 2034 was very much possible with the initiatives of the government. He cited that the State’s growth rate was 10.3% against the country’s 7.8% and the spending on agri and allied sectors, rural development, capital expenditure, welfare sector and others in Telangana was way ahead compared to other States.

Dhanpal Suryanarayana of BJP said the Congress Government had betrayed all sections.