Hyderabad, Aug 14 (IANS) BRS Working President K. T. Rama Rao on Thursday alleged that Telangana’s economy is on the verge of collapse due to”the inept governance” of the Congress.

Voicing concern over inflation in the state being in negative territory for two consecutive months, the Bharat Rashtra Samithi (BRS) leader expressed deep anguish that a state which, under party President and fomer Chief Minister K. Chandrasekhar Rao’s leadership, had stood as a model for the entire nation for nine years, has been economically crippled in just 18 months of Congress rule.

KTR, as the former minister is popularly known, blamed this dismal state of affairs on the “chaotic” economic policies of Chief Minister Revanth Reddy’s government.

In a statement, he said that, for the first time in Telangana’s history, inflation was recorded in the negative during 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 — 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, he said that the lack of new job creation and slowdown in economic activity are the key reasons for this situation, and urged the government to take their warnings seriously.

KTR lashed out at the Revanth Reddy 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 is being destroyed,” he said. He launched a scathing attack on the government, branding it a “hopeless government with hopeless governance”.

He accused the Congress of deceiving the people by making impractical promises, raising false hopes, and then betraying them. He alleged that the government has no clear plan for job creation.

Recalling the BRS government’s achievements, he said that Telangana had seen tremendous growth in the IT, pharma, and real estate sectors, but alleged that these sectors are now in ruins under Congress rule.

KTR demanded that the government take immediate and effective measures to revive the economy, seeking initiation of economic reforms and job creation programmes without delay, to save the state’s future.

–IANS

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