Telangana Budget: Rs 360 crore allocated for IT sector
The value of IT exports which was Rs 66,276 crore in 2014-15, increased to Rs1,28,807 crore by 2019-20
Hyderabad: In keeping with Telangana’s emergence as an international IT hub, the State government has allocated Rs 360 crore for the IT sector in the budget estimates for 2021-22.
Announcing the budgetary allocations in the State Assembly here on Thursday, Finance Minister T Harish Rao said world class giants have established their Data Base Centres in Hyderabad. “The value of IT exports which was Rs 66,276 crore in 2014-15, increased to Rs1,28,807 crore by 2019-20. This indicates the progress achieved by the IT Sector in the State,” he said, adding that while the national average annual growth of IT exports was only 8.09 per cent, the average growth of exports in Telangana was 17.93 per cent.
Stating that Hyderabad had become a hub for different types of IT companies, he said the T-Hub set up by the Telangana government to promote start-ups had become a role model for the country. WE-Hub started for women entrepreneurs was also progressing well.
The government, he said, has chalked out plans for expansion of IT parks at Kompally, Kollapur, Shamshabad, Uppal and Pocharam in Hyderabad Urban area. For the expansion of IT sector in Tier-II cities, the government constructed IT Towers in Khammam, Warangal, Karimnagar and Nizamabad districts. Chief Minister K Chandrashekhar Rao recently laid foundation stone for IT Towers in Siddipet too.
The government is considering promotion of electric vehicles in the State in a big way to reduce pollution caused by vehicles. The government has formulated an e-vehicle policy as part of its efforts to promote energy conservation and is offering subsidies for manufacture of electric vehicles and motor vehicle tax on e-vehicles.
Also read:
Telangana budget: Rs 3,077 crore for industrial sector, Rs 2,500 crore for incentives alone
Telangana State Budget: Rs 1,425 crore for Hyderabad development
Massive TS budget presented, annual outlay pegged at over 2.30 lakh crore
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