The Associated Chambers of Commerce and Industry of India (Assocham) has asked the Telangana government to expedite completion of ongoing infrastructure projects while taking up new ones to bridge the gap between Hyderabad and other parts of the State.
The government should evolve a strategy to spread development to other parts of Telangana in tune with the aspirations of the people, said Ravindra Sannareddy, chairman, Southern Regional Development Council of Assocham and national secretary general, D.S. Rawat.
Releasing a strategy paper titled “Realising growth potential of Telangana” here on Thursday, they said developing infrastructure outside Hyderabad was essential for reducing the cost of economic activities. They also called for developing human resources, setting up solar parks and introducing a world-class industrial policy.
They told presspersons that Telangana had a revenue surplus of Rs. 3,555 crore and after the internal debt burden of over Rs. 1.45 lakh crore of the combined State was apportioned, Telangana would be left with a loan burden of Rs. 61,000 crore. “The biggest concern of the new government should be to mobilise resources to fulfil its poll promises,” Mr. Sannareddy said and added that the strategy paper had been submitted to the Chief Minister. A similar paper on Andhra Pradesh would be released shortly.
Assocham would hold an international conference on small cities in October and ‘Invest Telangana’ conference in December. Giving the economic profile of Telangana, he said the economy was highly service intensive and accounted for 58.1 per cent share in the gross State domestic product. Industry contributed 27.9 percent to GSDP and agriculture 14 per cent. The per capita income of Telangana was Rs. 47,785 in 2012-13 much above the national average of Rs. 39,148.
The strategy paper made a number of suggestions in infrastructure development, agriculture and food processing, diary industry, non-conventional energy, bio-technology, tourism and other sectors for realising the growth potential of the new State. Telangana had live investment of Rs. 3.3 lakh crore with the major investment sectors being real estate, services, electricity, irrigation and manufacturing.
