Telangana aims to become $3 trillion economy by 2047: CM Revanth Reddy

Business Standard

5 days ago

Telangana is working to become a $3 trillion economy by 2047 as the country aspires to achieve $30 trillion by then, Chief Minister A Revanth Reddy said here on Monday.
Speaking at the Telangana Formation Day celebrations, Reddy said the state government hopes to contribute 10 per cent to the national GDP by 2047.
"India is making efforts to emerge as a $30 trillion economy by 2047. As India and the (Central) government are making plans to become $30 trillion, we brought the Telangana Rising 2047 policy document to make the state a partner in it, to put the state at the top," he said.
As part of its goal, the state government has introduced several policies, including energy, tourism, industries, investments and health, he said.
All these policies together form the vision of 'Telangana Rising 2047'. This envisions making the state compete with the world, he said.
The CM said the government is making efforts with the aim of transforming the state into a $one trillion economy in 10 years and a $3 trillion economy by 2047 (to help the country become a $30 trillion economy).
Telangana's population forms only 2.5 per cent of the country's current population, but the state contributes five per cent to the national GDP, he said.
The government aims to increase the state's contribution to the national GDP to 10 per cent by 2047, he said.
The CM urged doctors, engineers, bureaucrats, businessmen and other sections of society to support the government in its endeavour.
Reddy, who highlighted the welfare and development initiatives, said the government is firming up plans to make Hyderabad comparable to world cities, including to restore the past glory of Musi river in the city and to develop Bapu Ghat, a memorial for Mahatma Gandhi, as 'Gandhi Sarovar' as per international standards.
Observing that major cities in the country have developed gradually since old times, he said the government is developing a fully-planned 'Bharat Future City' near the city's RGI airport.
The proposed Future City is envisioned to compete with cities like Tokyo and New York.
The Future City, proposed to be developed in 30,000 acres as per global standards, would comprise AI City, Sports City, Life Sciences, Health City and Pharma City.
The government has already prepared a policy document and appointed a Future City Development Authority, he said.
The Future City would be a destination for investments from around the world, he said.
Alleging that people's aspirations were not fulfilled after the state's formation in 2014 (during the previous BRS regime), he said the state government, after assuming office in December, 2023, set out to rectify the wrongdoings of the past and to put the state on the path of reconstruction.
The CM hoisted the national flag and inspected the parade on the occasion.
He presented a cash reward of Rs one crore each to nine eminent persons, including late folk singer Gaddar, who played a key role in the Telangana statehood agitation. The cash rewards were received by the concerned family members in the case of some of the eminent persons.
The Mayor of Kitakyushu City in Japan, Kazuhisa Takeuchi, attended the Telangana Formation Day celebrations as a guest.
After a protracted agitation for statehood, Telangana came into existence on June 2, 2014, following the bifurcation of undivided Andhra Pradesh.