CM sets $3 trillion economy target for T by 2047 when India turns 100

1
2
Hyderabad: On the occasion of the 11th Telangana Formation Day on Monday, chief minister A Revanth Reddy set a new target of making the state a $3 trillion economy by 2047 and increasing its contribution to the GDP from 5% to 10%.
Speaking at the Formation Day celebrations at Parade Grounds, the CM presented the progress report of the 16-month-old Congress govt and sought the cooperation of all political parties, bureaucracy, industrialists and all sections in the state to make Telangana number one in the country. He said the state govt was working in mission mode to ensure that Telangana plays a pivotal role in developing India into a $30 trillion economy by 2047 when the country would celebrate its Independence centenary.
"As part of it, the Telangana Rising 2047 action plan has been prepared to turn the state into a $1 trillion economy in the next 10 years and $3 trillion by 2047. The govt has plans to not only develop Telangana as the number one state in the country but also make it capable of competing with the world," the CM said.
While sharing several achievements of the state govt such as Rs 20,600 crore crop loan waiver for farmers, nearly 60,000 govt and one lakh private jobs for the unemployed and other welfare schemes, the CM referred to the apolitical stand of the Congress govt in Telangana for the country by extending full support to the Centre and the armed forces during Operation Sindoor.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Giao dịch vàng CFDs với sàn môi giới tin cậy
IC Markets
Tìm hiểu thêm
Undo
The CM said the govt was moving fast to promote the youngest state as the best destination for global investments. The state govt has already inked agreements with companies for more than Rs 3 lakh crore investments. IT giants such as Google, Microsoft, Cognizant, and HCL were already expanding their operations in Hyderabad, he said, adding that this was the first step under 'Telangana Rising' project.
"Plans are in the pipeline to develop Hyderabad on a par with other developed metros in the world.
A Future City is also being developed in 30,000 acres with state-of-the-art facilities which will be a destination for investments from around the world. AI City, Pharma City, Sports City, Life Sciences and Health City are also being developed," he said.
Pointing to the bills on 42% quota for backward classes and SC categorisation, the CM said Congress govt rectified the wrongdoings of the previous govt (BRS) which had failed to fulfil the aspirations of people despite being in power since state formation in 2014.
Earlier, the CM paid tributes to Telangana martyrs at Gun Park near the assembly before going to Parade Grounds in Secunderabad where he hoisted the national flag and inspected the parade. The mayor of Kitakyushu City in Japan, Kazuhisa Takeuchi, attended the Telangana Formation Day celebrations as a special guest.
CM honours poets, writers, cops
CM A Revanth Reddy presented a cash reward of Rs 1 crore each to nine eminent persons including folk singers, writers, artists and poets who played a crucial role in the statehood agitation.
They include Ande Sri, Aekka Yadagiri Rao, Suddala Ashok Teja, Jayaraju, Pasham Yadagiri, Goreti Venkanna, and posthumously to balladeer Gaddar, Bandi Yadagiri and Guda Anjaiah. The awards of Gaddar and Anjaiah were collected by their families, while there was no one present from Yadagiri's family. Venkanna's award was received by his daughter as he is on a foreign tour.
The prestigious Kaloji Sahitya Puraskaram was presented to Nalimela Bhaskar.
As many as 19 police officers were presented with Medals for Gallantry and 11 other officers with Medal for Meritorious Service by the CM.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Hans India

13 minutes ago

• Hans India

NDA's first year in office presents a mixed bag in AP

The adage 'a mirror never lies' holds true, and the recent survey by People's Pulse Research Organisation clearly reflects that the coalition government in Andhra Pradesh has little to boast about after its first year in power. The promises made during elections remain largely unfulfilled, and public expectations remain unmet. The NDA coalition partners—Telugu Desam Party (TDP), Jana Sena, and BJP—find themselves in an unenviable position: the majority of the state's populace is waiting, burdened by problems yet hopeful for solutions. The prevailing public sentiment is not about revenge against opponents or factional gains, but a desire for welfare and development. Despite the central government's cooperation, economic progress is modest, at best. Caste equations are tilting towards reconfiguration. The TDP's internal discord has become a challenge to coalition unity, while Jana Sena's leadership struggles to maintain party survival. The BJP appears to lack a clear vision for growth in Andhra Pradesh. Meanwhile, the YSR Congress Party (YSRCP) has failed to renew hope among the people, who see no change in its leadership. This broadly sums up the political, economic, and social landscape after one year of governance in Andhra Pradesh. A closer look reveals that the government's claims of being 'good' are not shared by the people. The People's Pulse survey, conducted across districts from Ichchapuram to Kuppam and Machilipatnam to Madakasira, engaging diverse age groups and communities, brings to light the fact that public opinion is largely skeptical. There is a cautious wait-and-see attitude—some promises have been partially fulfilled, but people are uncertain if the rest will be honoured. Officials' performance is viewed as unsatisfactory, and the ruling coalition's 'Red Book' culture (a term denoting vendetta politics) is widely resented. National parties are weakening while regional forces are growing stronger. Coordination among coalition partners seems lacking. The opposition YSRCP, despite being in opposition, fails to offer a credible alternative, with public scrutiny focusing on its leadership style and party conduct. The media and political parties remain polarized, often disconnected from genuine public issues and aspirations. The electorate believes that the ruling coalition need not offer anything new to justify itself; it should at least fulfill the promises made during elections. While pensions have been increased and distributed properly, other cash-based election promises remain unfulfilled, causing public dissatisfaction. The recent rollout of the 'Talliki Vandana' scheme (replacing Amma Vodi) has generated some positive feedback on the ground. However, people want welfare and development to proceed in a coordinated manner. Unfulfilled promises such as the 'Super Six' employment guarantees, unemployment benefits, farmer welfare schemes, monthly financial aid of Rs 1500 for those aged 18-69 years, and free bus services remain a concern. Locals acknowledge improvements in peace and security, road repairs, and sand mining regulations. Progress on the capital city Amaravati and Polavaram projects has accelerated, which is a source of satisfaction. However, criticism persists that ministers, MPs, and MLAs have been involved in nepotism and family patronage from early on, a practice that was less pronounced during the YSRCP government's initial years. Employment promises remain unmet, and people demand the implementation of the 'Prajagalam' scheme. The government's delay in delivering on its commitments raises questions among the public. Neither the ruling coalition nor the opposition has conducted a thorough review of why they won or lost. The ruling coalition maintains a confident stance, asserting that it is delivering governance according to the people's wishes and dismissing the opposition as ineffective. Conversely, the YSRCP claims the coalition government has failed in all areas and that the electorate will realize this and return YSRCP to power in four years. Both sides remain entrenched in echo chambers, unwilling to acknowledge realities. Despite the current political scenario, indications from the public suggest that by 2029, the one-party dominance of 2024 will no longer prevail. The public perceives that while Chief Minister N Chandrababu Naidu remains the central figure, others in the government have not performed well. Ordinary citizens accept Pawan Kalyan, the Deputy Chief Minister, but there is no widespread support for the Chief Minister's son Nara Lokesh as a future leader. The people are not ready for Chandrababu's radical experiments or his futuristic visions such as the 2047 concept or P-4 ideology, which remain obscure and unconvincing. Although projects are progressing faster with central assistance, the response to Amaravati's development is mixed, with concerns about regional disparities and inequality. There is a growing perception that the interests of Uttarandhra and Rayalaseema regions are being neglected. Land pooling controversies in the capital region persist, with doubts among original farmers. There is a call to extend tenant farmers' leases and pensions for another decade. The Polavaram project has restarted, but the displaced persons' issues remain complex. While law and order are not as dire as alleged by the YSRCP, revenge attacks and factional conflicts in Palnadu and some Seema areas continue to trouble the people. Citizens question the ongoing 'Red Book' vendetta politics and factionalism, asking what has changed since the previous government's failure. The average public opinion is a plea for coordinated welfare and development as promised. The coalition's policies and actions are seen as exacerbating regional and caste divisions. Influential Reddys are drifting back towards YSRCP, while communities such as Kamma, Kapu, Kshatriya, Vaishya, BC, and Madiga largely support the coalition. Conversely, Reddys, Muslims, Christians, Dalits, and other groups are strengthening the YSRCP's base. This social realignment signals new political reconfigurations ahead. Despite suffering a severe electoral defeat—dropping from 151 to 11 seats—the YSRCP retains about 40 per cent vote share and remains a strong political force in the state. There is a general expectation that its chief Y.S. Jagan Mohan Reddy will modify his style and approach as an effective means to reconnect with the people and address their problems. Until such changes occur, the party's political fortunes are unlikely to improve. The public rejects the notion that the people will automatically re-elect YSRCP in the next elections. One major obstacle is the still-active 'coterie' around Jagan, which continues to act as a barrier between him, his party, and the public. The perception that 'Jagan is fighting for us' has yet to take root widely. Within the coalition, the TDP, expected to play the leading role, has been embroiled in internal strife since government formation. Possibly due to dependence on the central government, the TDP leadership appears to accept BJP's dominant role in the coalition. The public perceives that the BJP is negligible politically in the state. Jana Sena facesa similar predicament. In constituencies represented by Jana Sena, the TDP dominance is evident. The lack of close rapport between party chief Pawan Kalyan and his MLAs, and organisational weaknesses, have left the party in a precarious position. Only the young and loyal cadres seem responsive to Pawan's initiatives. The general public feels that Pawan Kalyan must uphold coalition principles, maintain Jana Sena's identity, and act decisively and straightforwardly as elections approach. Both the ruling coalition and opposition have achieved little in the past year; time has only passed without substantial progress. (The writer is a Political Analyst, People's Pulse Research Organisation)

Hans India

14 minutes ago

• Hans India

Middle East flares may weigh down markets

Pumped up by US President Trump's statement about decision of US direct involvement in the Israel-Iran conflict in next two weeks, the strong rally on Friday helped market erase previous few sessions losses to close on optimism. For the week, the BSE Sensex index added 1,289.57 points or 1.58 per cent to finish at 82,408.17, and on the NSE, the Nifty gained 393.8 points or 1.59 per cent to end at 25,112.40. Broader markets underperformed benchmark indices, the BSE Mid-cap Index was down 0.4 per cent and the BSE Small-cap index shed nearly 2 per cent. Sector wise, Nifty Private Bank index rose 1.6 per cent, Nifty Auto index added 1.5 per cent, Nifty Information Technology index rose 1.3 per cent. However, Nifty Media index shed 3 per cent and Nifty Pharma index fell 1.7 per cent, Nifty Metal and PSU Bank indices shed 1.3 per cent each. FIIs snapped four week selling with purchases of equities worth Rs 8,709.60 crore in current week. DIIs continued their buying for ninth straight week with purchases of equities worth Rs 12,635.58 crore. Domestic factors such as a decline in India's wholesale inflation and the RBI's relaxation of lending norms supported the market's upward momentum amid Middle East concerns. The rupee witnessed a sharp fall last week. The fall to 86.60 on the Indian rupee (86.59) has happened much faster than expected. Rise in crude oil prices on the back of the ongoing Israel-Iran conflict is weighing on the domestic currency. The US Federal Reserve meeting last week largely turned out to be a non-event for the markets. The Fed kept the rates unchanged at 4.25-4.5 per cent. It also retained its forecast for another 50-basis points rate cuts for the rest of the year. However, the central bank had revised its inflation forecast higher. The higher revision has been attributed to the uncertainty prevailing over the impacts of higher tariffs. Weekend factors like US B-2 Bombers making incursions into Iran and with Israel and Iran continuing to exchange missile strikes will cast shadow on markets when markets open in the coming week. Looking ahead, traders may brace for heightened volatility as geopolitical tensions remain elevated. Iran has launched a retaliatory wave of missiles toward Israel, hours after U.S. airstrikes targeted its nuclear facilities in Fordow, Natanz, and Isfahan; and Iran's foreign minister stated that Tehran is willing to consider diplomacy only once Israel halts its aggression. Watch carefully the developments because of its impact on international crude oil prices. IPO Corner: After a long time, the primary market is going to see some intense action in a 'energetic week' with 13 (IPOs) hitting the D-Street. The companies will be raising nearly Rs 16,000 crore during the week, with five mainboard public issues up for grabs. The positive broader picture of the equity market, despite near-term concerns led by the Middle East and tariff-driven volatility, appears to be the reason for strong primary market action. Mumbai-based real estate developer Kalpataru is slated to raise Rs 1,590 crore via IPO. The IPO price band has been set at Rs 387 to Rs 414. New Delhi-headquartered EPC company Globe Civil Projects plans to garner Rs 119 crore through IPO. The IPO price band has been set at Rs 67 to Rs 71. Industrial gases provider Ellenbarrie Industrial Gases plans to mop up Rs 852.53 crore via the public issue. The IPO price band has been set at Rs 380 to Rs 400. Electric resistance welded steel pipes and structural tubes maker Sambhv Steel Tubes plans to raise up to Rs 540 crore. However, the biggest public issue of the current year will be from HDB Financial Services with a size of Rs 12,500 crore. The IPO price band has been set at Rs 700 to Rs 740. This remains the most anticipated issue among the pack. The SME segment will also see top action with 7 IPOs opening for subscription. Reports indicate that Tata Capital is closing in on a blockbuster Rs 17,200 crore IPO, after receiving regulatory clearance for its confidential draft prospectus. Expect some shift in fund flows from both retail investors and institutions from secondary market to IPO segment. The fresh wave of equity supply via initial public offerings (IPOs) can be a key risk to Indian stock market. If you think investing is gambling, you're doing it wrong. The work involved requires planning and patience. However, the gains you see over time are indeed exciting. FUTURES & OPTIONS / SECTOR WATCH With the broader indices Nifty and Bank Nifty locked in a tight range, derivative segment witnessed mild bouts of alternate buying and selling in stock futures. Despite ongoing tensions between Iran and Israel, indices ended the week on a positive note. In the options market, prominent Call open interest for Nifty was seen at the 25,500 and 25,300 strike, while the notable Put open interest was at the 25,000 and 24,800 strike. For Bank Nifty, the prominent Call open interest was seen at the 57,000 and 56,500 strikes, whereas notable Put open interest was at the 56,000 strike. Implied volatility (IV) for Nifty's Call options settled at 13.51%, while Put options concluded at 14.06%. The India VIX, a key market volatility indicator, closed the week at 14.26%. The Put-Call Ratio Open Interest (PCR OI) for the week was 1.06. Nifty is currently trading near its resistance level of 25,200. A breakout above this level could lead to a further move towards 25,500. On the downside, immediate support is placed at the psychological level of 25,000, followed by strong support at 24,800. As long as Nifty holds above 24,800, the market can be considered a buy-on-dips. Watch out for breakout attempts near resistance and potential reversal signs around the key levels. As always, manage risk with discipline and stay anchored to price confirmation. Stocks looking good are Ashok Leyland, BEL, Bharti Airtel, Indus Towers, Trent, Kaynes and Wipro. Stocks looking weak are ATGL, Bluestar, RVNL, Shree Cements, Tata Chemicals, Unominda and Voltas. (The author is a senior maket analyst and former vice- chairman, Andhra Pradesh State Planning Board)

Indian Express

15 minutes ago

• Indian Express

Daily Briefing: As US enters Iran-Israel conflict, what's next?

Uncertainty persists a day after the US struck three key nuclear facilities in Iran. Experts are yet to determine the exact damage to Iran's nuclear facilities. A question mark hangs over the fate of the Iran-controlled Strait of Hormuz, via which 20% of global oil and gas demand flows. Most crucially, the world awaits Iran's response to the US strikes after it vowed to defend itself. Let's look at what happened and what likely comes next. Recap: The US military deployed a group of B-2 bombers from Missouri towards the Pacific island of Guam. It was seen as a possible pre-positioning for any US decision to strike Iran. It turned out that this was a decoy. The real group of B-2 stealth bombers flew east, undetected for 18 hours, before unleashing the heavy-duty bunker buster bombs on Iran's critical Fordow nuclear sites. Simultaneously, Navy submarines fired 30 Tomahawk cruise missiles at Natanz and Isfahan atomic sites. The damage: While Israel had targeted Natanz, a uranium enrichment site, and Isfahan, a storage facility for near-bomb-grade nuclear fuel, in earlier strikes, it needed US assistance to target Fordow. It is Iran's most critical nuclear enrichment facility, housed deep inside a mountain. As my colleague Amitabh Sinha explains, the US strikes did not pose threats of a nuclear explosion, nor have they led to any major radiation leak. Notably, while satellite imagery showed significant damage to Fordow, the extent of below-ground destruction remains unknown. Speculation was also rife that Iran may have moved its enriched uranium to a secure facility before the US attack. An unnamed Iranian source confirmed this to the news agency Reuters. The politics: US President Donald Trump's decision to enter the war may receive the most severe criticism from his own support base. Trump rode the right-wing populist wave to power, promising to keep the US out of the endless wars in the Middle East. If the conflict with Tehran widens, he may lose crucial support. So far, Trump acolytes have insisted that the US was not at 'war' with Iran, and the actions were not aimed at a regime change (though a post on Trump's Truth Social, calling to 'Make Iran Great Again', argued precisely the opposite). Contributing editor C Raja Mohan takes a comprehensive view of the attack's impact in the region. The tightrope: India walks a diplomatic tightrope as it has ties with both Iran and Israel — and now, the US — to protect. In a phone call with Iranian President Masoud Pezeshkian, Prime Minister Narendra Modi urged for de-escalation, an appeal echoed by world leaders across the globe. The conflict also threatens to upend India's military capabilities if it stretches on. India accounts for 34 per cent of Israel's arms imports, including loitering munitions and air defence systems deployed during Operation Sindoor. Military sources told my colleague Amrita Nayak Dutta that the war may not impact Indian military hardware just yet. However, if Iran were to close the Strait of Hormuz, a motion already approved in Iranian parliament, it may severely hit India's oil and gas imports. 🎧 For more on the US strikes in Iran, tune in to today's '3 Things' podcast episode. Moving on to the rest of the day's headlines. India has sealed the trade deal with the UK; another one with the US is in the offing. But are the trade talks with the European Union lagging? 'What is important is not about being fast and furious, but resolute and substantial, for both constituencies. Europeans may be a bit slower, we are a bit bureaucratic, we are not shining, but at the end of the day, we deliver,' the EU Ambassador to India, Herve Delphin, said. Read everything he said about EU-India ties in the latest Idea Exchange session. ID'ed: The National Investigation Agency has made a breakthrough in its probe into the April 22 Pahalgam attack, identifying the three attackers — all from Pakistan. Crucially, the identities differ from the three sketches released by the Jammu and Kashmir police right after the incident. Dig in: Mining and related activities are prohibited in a one-kilometre zone outside the Critical Tiger Habitat (CTH) in the Sariska Tiger Reserve. Last year, over 50 marble and dolomite mines were shut down on the Supreme Court's order due to their proximity to the CTH. Now, a plan to retreat the CTH boundaries may hand a lifeline to these mines. Data crunch: Macroeconomic figures point to steady growth for India, but rarely account for individual well-being. Researchers Ashok Gulati and Ritika Juneja's breakdown of the numbers shows that India's poverty levels have reached a historic low. There may be a need to reexamine government policies, particularly around the food and fertiliser subsidies. 'Spiritual Disneyland': In 2021, bulldozers arrived at Auroville to make way for the Centre's master plan to redevelop the experimental township. The Centre insists its plans are based on the Galaxy Plan of the township's founder, Mirra Alfassa or 'Mother'. However, long-time residents have accused the authorities of indulging in 'methodical erosion' of the township's founding ideals, alleging control, surveillance, and censorship. A wave of visa renewal denials has also left many of the Aurovillians displaced. Arun Janardhan spoke to the residents to make sense of the allegations. In England's first innings against India in the ongoing Test series, Harry Brook stopped just one short of scoring a century. National sports editor Sandeep Dwivedi travelled to rural Yorkshire, where a village of 7,000 raised Brook. A boy who practically grew up at a clubhouse in the village's centre is now England's big batting hope and their heir-apparent to Test skipper Ben Stokes. Read Dwivedi's dispatch. That's all for today, folks! Until tomorrow, Sonal Gupta Sonal Gupta is a senior sub-editor on the news desk. She writes feature stories and explainers on a wide range of topics from art and culture to international affairs. She also curates the Morning Expresso, a daily briefing of top stories of the day, which won gold in the 'best newsletter' category at the WAN-IFRA South Asian Digital Media Awards 2023. She also edits our newly-launched pop culture section, Fresh Take. ... Read More