Business Economy


Telangana's economy on verge of collapse: BRS Working Prez

Hyderabad, Aug 14 (UNI) BRS Working President K. T. Rama Rao (KTR) today alleged that Telangana’s economy is on the verge of collapse, pointing to the fact that inflation in the state has been in the negative for two consecutive months.

In a statement, KTR expressed deep anguish that a state which, under KCR’s leadership, had stood as a model for the entire nation for nine years, has been economically crippled in just eight months of Congress rule.
He squarely blamed this dismal state of affairs on the chaotic economic policies of the Congress government led by Chief Minister Revanth Reddy.
KTR pointed out that, for the first time in Telangana’s history, inflation was recorded in the negative during the months of June and July.
In July, he said the state’s inflation stood at -0.44 percent againstthe national average was +2.10 percent while in June, Telangana recorded -0.93 percent compared to the national average of +1.55 percent, said KTR.
He noted that deflation is even more severe in rural areas.
Contrary to popular perception, KTR stressed that a fall in inflation is not always a positive sign — in this case, it is a dangerous indicator for the state’s economy. People are spending only on essentials, while business, trade, and industrial activities have come to a standstill, he said.
Quoting economic experts, KTR said that the lack of new job creation and slowdown in economic activity are the key reasons for this situation, and urged the government to take their warnings seriously.
KTR lashed out at the Revanth Reddy-led Congress government, saying it has completely paralysed economic activity.
“It is painful to see Telangana, once the fastest-growing state in the country, now moving in reverse, he said under the clueless Congress regime, a robust economy is being destroyed.”
He launched a scathing attack on the government, branding it a “hopeless government with hopeless governance.”
KTR accused the Congress of deceiving the people by making impractical promises, raising false hopes, and then betraying them.
Recalling the BRS government’s achievements, he said that Telangana had seen tremendous growth in the IT, pharma, and real estate sectors, but these sectors are now in ruins under Congress rule.
KTR demanded that the government take immediate and effective measures to revive the economy.
He warned that unless the Congress government corrects its failures, Telangana’s economic prospects will deteriorate even more.
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