Telangana economy on verge of collapse, alleges KTR
BRS Working President blames the Congress govt’s ‘chaotic economic policies’ for the state’s negative inflation and calls for immediate reforms
Hyderabad: BRS Working President KT Rama Rao on Thursday alleged that Telangana’s economy was on the verge of collapse, pointing to the fact that inflation in the state has been in the negative for two consecutive months.
The BRS leader 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. He 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, the state’s inflation stood at -0.44 per cent, while the national average was +2.10 per cent. In June, Telangana recorded -0.93 per cent compared to the national average of +1.55 per cent. 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 and 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 the slowdown in economic activity were 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. Under the clueless Congress regime, a robust economy was being destroyed,” he said. He launched a scathing attack on the government, branding it a “hopeless government with hopeless governance.”
KTR demanded that the government take immediate and effective measures to revive the economy. He urged the initiation of economic reforms and job creation programmes without delay to prevent the state’s future from sinking further into darkness. He warned that unless the Congress government corrects its failures, Telangana’s economic prospects will deteriorate even more and stressed that only by addressing these issues can the state get back on the path of progress.
