Hyderabad, Oct.8 : Caretaker Minister K T Rama Rao said today that the newly formed Telangana State was marching ahead with great speed and it has achieved 17 per cent growth rate in the past four years. He also stated that the government was deeply committed for the uplift of socio-economic backward groups and was striving to narrow down the socio-economic inequalities through proactive policies and budget allocations.
Rama Rao was the chief guest at the international seminar on ‘Inclusive Development: Issues and Challenges’ organised by the Centre for Economic and Social Studies here. He asserted that education has been an important sector for the State government. He said that literacy, life expectancy and lifestyle improvement were essential for an improved per capita income where India was surging ahead. “Development is a common theme across all spheres of life. Development, welfare and inclusive growth are high on agenda of various political systems in the country. Fortunately, Indian economy is improving and benefits are trickling down to those living at the bottom of the pyramid, due to public policy and also civic contribution,” he pointed out.
He asserted that the State government has allocated Rs 45,500 crore for social services, accounting for nearly 43 per cent of total budget during the last financial year and this was a 10 per cent increase when compared to previous fiscal. He explained that the government has provided in the Budget Rs 16,400 crore for SCs, Rs 9,600 crore for STs, Rs 2,000 crore for minorities, and another Rs 18,000 crore for children, women, disabled and senior citizens welfare programmes. Telangana State stood as a role model in the country by introducing schemes like Kalyana Lakshmi, Shaadi Mubarak, Rythu bandhu and pensions.
Rama Rao stated that the Telangana state has a unique system where unspent funds will carry forward to next year. Necessary legislations have been made in this regard, he added.
Former RBI Governor YV Reddy, German economist Hans-Bernd Schafer, Indian economists Amiya Kumar Bagchi and CH Hanumantha Rao, CESS Chairman R Radhakrishna were among those who spoke. KTR released a book authored by R Radhakrishnan titled ‘Indian Economy’.