Former CS Ramakrishna Rao praises Telangana’s 2014–2026 economic growth

Former Chief Secretary K Ramakrishna Rao highlighted Telangana’s rapid economic growth from 2014 to 2026, noting a fourfold rise in the State budget and a jump in per capita income from 10th to 3rd position nationally.

Hyderabad: In contrast to Chief Minister A Revanth Reddy’s criticism of the previous BRS government, former Chief Secretary K Ramakrishna Rao praised Telangana’s economic growth between 2014 and 2026.

After retiring on June 30 this year, Ramakrishna Rao was appointed Advisor to the Chief Minister. He holds the distinction of serving as Telangana’s longest-serving Finance Secretary, spending about 12 years in the post and preparing 14 annual State budgets.

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Recalling the State’s financial journey, he said Telangana’s first Budget, presented in November 2014, was around Rs.60,000 crore, while the actual expenditure last year stood at Rs.2.4 lakh crore.

“In a short span of about 12 years, the State’s budget outlay grew nearly fourfold. This growth is reflected across several economic indicators. In 2014, our GDP was about Rs.5 lakh crore, and today it is nearly Rs.18 lakh crore. It has increased by three-and-a-half times,” Ramakrishna Rao said at the CII Telangana CFO Conclave held in Hyderabad on Friday.

He said Telangana ranked 10th in the country in terms of per capita income (PCI) in 2014 but has now moved to the third position with a PCI of Rs. 4.3 lakh. Only Sikkim and Goa are ahead of Telangana, he added. The conclave brought together finance professionals, policymakers, industry leaders and business strategists to discuss how finance leadership must evolve amid disruption, artificial intelligence and geopolitical uncertainty.

Addressing the gathering, Ramakrishna Rao said the role of a Chief Financial Officer was not merely to respond to change but to prepare organisations for it in advance. He said the Telangana government has set a target of becoming a USD 1 trillion economy by 2034 and a USD 3 trillion economy by 2047.

“The States in South and West India have economic momentum today. Though the population gravity lies in the North and East, the economic gravity lies in the South and West,” Rao said.

He attributed this to the post-1991 economic reforms, particularly the emphasis on human resource development, education and skill development in these regions.