Despite COVID crisis, Telangana's economy firmly under control, says governor

Hyderabad: Despite the financial crisis in the wake of the Covid-19 pandemic, the shape of the state's economy remained under control, said Governor Tamilisai Soundararajan while addressing a joint sitting of the budget session of the State Legislature on Monday.

The Governor said the state had evolved a strategy and ensured that the economy did not go out of control during the difficult Covid times. Several innovative programmes and schemes were introduced by the government led by Chief Minister K. Chandrashekar Rao to place the state firmly on the path of progress.

“Telangana state is marching ahead with development in all sectors besides ensuring welfare to all sections of society. It is now stepping into another financial year with confidence,” she noted.

The Governor pointed out that the proof of Telangana emerging as a progressive and developed state is in its positioning as the third best on the UN-inspired Sustainable Development Goals India Index as adjudged by Niti Aayog.

"Fully aware of Telangana’s needs on various fronts, the state developed its own growth model by keeping the individual at the centre of all governmental schemes and finding solutions to their problems. It formulated plans based on available resources and needs. From 2014 to 2019, with a 17.24 per cent annual growth rate, the state increased its revenues and topped the country on this count, the governor said.

“In 2013-2014, the state’s GSDP was Rs 4,51,580 crore and by 2019-20, it increased by 114.71 per cent with the GSDP put at Rs 9,69,604 crore. Similarly, in 2013-14, the per capita income in Telangana was Rs 1,12,162, but by 2019-20, it has more than doubled to Rs 2,28,216," the Governor stated.

The estimated per capita income in 2020-21 would be Rs 2,27,145 and the estimated GSDP would be Rs 9,78,373 crore.