BRS questions $1 trillion claim, says Congress govt building castles in the air

BRS whip KP Vivekananda questioned the Congress government’s claim of turning Telangana into a $1-trillion economy by 2034, saying the target lacked a credible roadmap and would require nearly 20 per cent annual growth, which he termed unrealistic

Hyderabad: BRS whip KP Vivekananda on Wednesday questioned the Congress government’s claim of turning Telangana into a $1-trillion economy, calling the target unrealistic and unsupported by any credible roadmap. He said the budget spoke of achieving a $1-trillion economy by 2034 and $3-trillion by 2047, which would mean expanding the present GSDP of Rs 17.84 lakh crore to nearly Rs 93 lakh crore ($1 trillion).

“To reach that level, the State must grow at nearly 20 per cent every year. Forget States in India, no country achieved such growth even after World War-II. With a Rs 3.24-lakh-crore budget, how will you do it?” he asked, while participating in the budget debate in the Assembly.

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Vivekananda said Telangana recorded a compound annual growth rate of about 12.5 per cent during the BRS regime, despite demonetisation and the pandemic. He pointed out that growth slipped to around 10.3 per cent in the last two years. “Without a clear plan, talking about a trillion-dollar economy is nothing but building castles in the air,” he said.

The BRS whip also questioned the scrapping of Pharma City, the uncertainty over Kaleshwaram, and funding for large projects like Musi River rejuvenation, asking how the government planned to mobilise resources for such extravagant projects, while claiming the State economy was in distress. He recalled that Deputy Chief Minister and Finance Minister Mallu Bhatti Vikramarka repeatedly claimed deep knowledge of State finances, but the government had failed to implement the Six Guarantees even after two years in power.