New MSME policy acknowledges sectoral growth under BRS regime: KTR

He stated that the Congress government was now reaping benefits of the initiatives implemented by former Chief Minister K Chandrashekhar Rao

Hyderabad: BRS working president and former Industries Minister KT Rama Rao stated that the new MSME policy of the Congress government acknowledges the significant growth of Micro, Small, and Medium Enterprises (MSMEs) sector under the BRS regime.

He stated that the Congress government was now reaping benefits of the initiatives implemented by former Chief Minister K Chandrashekhar Rao.

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In response to the new MSME policy launched on Wednesday, Rama Rao pointed out the strides made by MSMEs over the last decade, stating that the Congress government’s own data confirmed the sector’s growth under BRS rule.

He pointed to key statistics in the policy that demonstrate a growth rate of 11-15 per cent for MSMEs over the last ten years, along with a 115 per cent increase in investments due to the TS-iPASS industrial policy.

The former Industries Minister said the rise in MSMEs’ contribution to Telangana’s Gross State Domestic Product (GSDP) by 10 per cent, and a 15 per cent annual increase in the number of MSMEs, were clear indicators of the sector’s robust growth.

Employment growth in the MSME sector was equally impressive, with a 20 per cent rise in job creation where 30 per cent of which benefitted SC/ST women.

The State also recorded the lowest number of MSME closures between 2020 and 2023, an achievement attributed to the BRS government’s forward-thinking policies and targeted incentives for small industries.

“These numbers are not the BRS’ claims, but those presented by the Congress government itself,” he remarked, stating that notwithstanding the attempts to belittle Chandrashekhar Rao’s contributions, the facts could not be erased.

The MSME policy released on Wednesday stood as a testament to the progress made under the BRS administration, he added.

In a separate statement, former Minister and senior BRS MLA T Harish Rao also lauded the Chandrashekhar Rao government for driving unprecedented growth in Telangana’s MSME sector.

“The Congress government is simply riding on the momentum built by BRS without contributing anything new,” he stated.

He emphasised the need for visionary governance in achieving such milestones, challenging the Congress government’s attempts to claim credit for the BRS-led industrial progress.