State records firm progress in three years

Hyderabad: The socio-economic outlook released by the State government on Thursday revealed that focus on fast paced economic progress and inclusive growth yielded a surge in the growth momentum. According to the outlook, the socio-economic progress of Telangana firmed-up in the last three years, in key sectors and path-breaking initiatives of the government, to reconstruct and revive the State economy.

A comprehensive and strategic initiative of the State government implemented in the last three years had given a new thrust to the revival of the rural economy, it said. Activities in farming, non-farming sector backed with a new boost given for the agriculture growth had been giving positive results.

For example, increase in public spending on irrigation created a new irrigation potential of 16.64 lakh acres stabilising 8.97 lakh acres ayacut, it added. Extending direct support schemes like farm loan waiver, increase in providing agriculture loans under interest-free and Pavala Vaddi schemes and the like also helped the farmers. Formation of Rythu Samanvaya Samithi, increased the storage facilities too and helped in the rejuvenation of the agriculture sector, it said.

The Telangana State Industrial Project Approval and Self-certification System (TS-iPASS) for ease of doing business and T-HUB for incubating start-ups brought in lots of changes and successfully attracted industries from within and outside of the country. Specific and sector-wise policy initiatives in the identified 14 sectors, IT and ITeS industry, backward and forward linkages of the infrastructural facilities have been keeping up the higher growth momentum of the economic progress of the State.