Hyderabad: The State government has implemented innovative and model policies to encourage investments in the manufacturing and service sectors for the economic development of the State and also to create employment opportunities.
The TSiPASS Act, which has won laurels across the country, ushered in revolutionary changes in the industrial sector attracting investments amounting to Rs 2.13 lakh crore through 15,252 industrial units and creating over 15.51 lakh jobs.
“Favourable climate, 24-hour quality power supply, better law and order situation have created a congenial atmosphere in Telangana State for business, trade and industrial activities. In Ease of Doing Business (EODB), Telangana State is placed among the top three States. World- famous companies are opening their offices in Hyderabad due to simple, speedy and transparent clearances,” Governor Tamilisai Soundararajan said in her address to a joint session of the State Legislature here on Monday.
The IT sector is making rapid strides in Telangana State, with internationally renowned IT companies opening their database centres in Hyderabad. After the State formation, 250 new IT companies came to the State and 5,82,126 employees are working in them. In the first year of State’s formation, the IT exports were Rs 66,276 crore. By 2019-20 financial year they are more than doubled and now stand at Rs 1,28,807 crore. In the IT exports growth rate, the national average is 8.09 per cent while Telangana’s growth rate is 17.93 per cent.
Despite the adverse impact of the Covid-19 pandemic, the National Association of Software and Services Companies (NASSCOM) has projected the IT exports in the State at Rs 1.40 lakh crores in 2020-21 financial year. “It is crystal clear that the Telangana State, even in adverse conditions, is achieving progress. Telangana is also in the forefront of providing digital services to people. The T-Hub of the State government had become base for many startup companies,” she added.
Success in Power Sector
Stating that Telangana achieved marvelous success in the power sector that surprised the entire nation, the Governor said Telangana which suffered severe power cuts and power holidays in undivided Andhra Pradesh, had successfully overcome the crisis within a short span of time and went on to become the only State to provide uninterrupted free power supply to the farm sector and also uninterrupted power supply to all the sectors.
Eventually, the State government has increased its installed power capacity from 7,778 MWs at the time of the State formation to 16,245 MWs during the current fiscal. The Solar power capacity was increased from 71 MWs to 4,840 MWs. The transmission capacity was also improved from 13,900 MVA (Megavolt Amperes) to 37,000 MVA, while the per capita power consumption has escalated from 1,110 units to 2,071 units during the same period.
“Telangana’s per capita power consumption is higher than that of the national average of 1,208 units. This is an indication of the great success achieved by the State in the power sector,” she said.
The Central government complimented the State over its success in power front for supplying uninterrupted quality power without any power cuts. Despite marked increase in the number of power connections, per capita consumption and maximum peak demand. Telangana won awards and accolades from the Union government as well as government agencies including the Council of Energy, Environment and Water (CEEW), NITI Aayog, and the Central Electricity Authority among others. The works on Yadadri, Bhadradri power plants are being completed on fast track to make the State a power surplus State.
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