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Telangana finance minister Etela Rajender on Thursday said his ministry would ensure adequate flow of public investments in power, irrigation and infrastructure sectors even while fully backing the implementation of the election promises such as farm loan waiver.
“I am confident that we are going to fulfil all the commitments given to the people of Telangana even though this year's revenue growth may fall short of expectations,” Rajender, who took charge of the finance portfolio on Wednesday, told Business Standard
Speaking on the priorities ahead of his department, the finance minister said he would cut down on wasteful expenditure and also save money by stopping foreign trips at government expenditure and other such practices while taking steps to improve the government income.
“Post bifurcation, the state of affairs in the government has become fluid and confusing and, therefore, it will take sometime to re-establish all the systems of governance. But, our focus on what we need to do is intact,” he said.
According to him, the promises made in the election manifesto on all matters, including jobs and development, would automatically become the priorities and the agenda of the government in the next five years.
With regard to power and irrigation sectors, the minister said the government would raise loans to set up new power projects and plans to spend around Rs 24,000 crore on the ongoing irrigation projects.
On concerns over flight of capital expected from Hyderabad to residual Andhra Pradesh owing to special tax incentives to be made available there, he said nothing of that sort was going to happen.
“All that we expect to happen is an attempt to move the sales tax payable to the government of Telangana from Hyderabad to the residual Andhra Pradesh. We have enough data and intelligence with the department to check such designs,” he said while stating there was no threat to the growth of Hyderabad in areas of business and industry owing to the inherent strengths the region has.
According to the minister, Telangana enjoys a unique position in terms of its geographical location that no other place, including Seemandhra, would offer for the businesses including IT and pharmaceuticals. “We will not remain just as bystanders when the other side seeks to accomplish something on the development front. We will compete,” he said.
He, however, pointed out that the Centre was duty bound to treat both the states of Telangana and residual Andhra Pradesh equally in terms of tax incentives or financial assistance to ensure a level-playing field.
