Telangana registers 21.96% growth rate in first 5 months

Telangana State has achieved 21.96 percent growth rate in revenue during the first five months of the financial year 2018-19, informed Chief Minister's office on Wednesday.

The Chief Minister's office, in a statement, stated that during the first five months from April to August 2018 the revenue in the state has touched Rs. 25, 3984.18 crore which marks a 21.96 percent growth as compared to last year's figure for the same period. In the first five months of the 2017-18 financial year, the revenue was Rs. 21,642.02 crore.

According to the statement, the state has been registering record revenue growth since last four years. After formation of Telangana State, in the first four financial years, the state has recorded a revenue growth rate of 17.17 percent on an average every year.

Meanwhile, the Economic Times has decided to confer the prestigious Economic Times Business Reformer of the year Award on Telangana Chief Minister K. Chandrashekhar Rao on October 27, 2018 in Mumbai.

According to another statement from the CMO, the Chief Minister outlined the growth of Telangana in various developmental welfare activities which resulted in such Awards. He said, that, industrialists both within the country and abroad have all praised for Telangana, adding, the state secured top rank in Ease of doing business. The Chief Minister also said, that, several new avenues have been opened in IT sector adding to the revenue growth rate of the state.

He added that the single widow TS iPass Industrial Policy has brought more than 7000 industries to the state providing large-scale employment and huge investments.

(ANI)