Telangana records 21.96% growth rate in first 5 months, says state government

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HYDERABAD: Telangana State has achieved 21.96 percent growth rate in revenue during the first five months of the financial year 2018-19, informed Chief Minister's office on Wednesday, reports ANI.

 

According to a statement from the Chief Minister's office, Telangana, which has been registering record revenue growth during the previous four years, is moving in the same direction during 2018-19 financial year also.

The Chief Minister's office, in a statement, stated that during the first five months from April to August 2018 the revenue in the state has touched Rs. 25, 3984.18 crore which marks a 21.96 percent growth as compared to last year's figure for the same period. In the first five months of the 2017-18 financial year, the revenue was Rs. 21,642.02 crore.

After formation of Telangana, during the first four financial years, the state recorded a revenue growth of 17.17% on an average every year. It claims to be the only state to achieve such a high growth rate consistently.

According to the statement, the state has been registering record revenue growth since last four years. After formation of Telangana State, in the first four financial years, the state has recorded a revenue growth rate of 17.17 percent on an average every year.

Meanwhile, the Economic Times has decided to confer the prestigious Economic Times Business Reformer of the year Award on Telangana Chief Minister K. Chandrashekhar Rao on October 27, 2018 in Mumbai.

According to another statement from the CMO, the Chief Minister outlined the growth of Telangana in various developmental welfare activities which resulted in such Awards. He said, that, industrialists both within the country and abroad have all praised for Telangana, adding, the state secured top rank in Ease of doing business. The Chief Minister also said that, several new avenues have been opened in IT sector adding to the revenue growth rate of the state.

He added that the single widow TS iPass Industrial Policy has brought more than 7000 industries to the state providing large-scale employment and huge investments.

(With inputs from Agencies)

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