CM K Chandrasekhar Rao on Monday admitted Economy Slow Down in the country had an impact on Telangana when he presented full-fledged budget in the Assembly. He, however, maintained Telangana is still racing ahead to continue as the No.1 State in the country.
KCR declared GDP of Telangana has doubled and increased from 4.5 percent to 10.2 percent. He added, 'Only 5 percent growth was recorded in the first quarter of current financial year due to economy show down. We achieved 11.5 percent Growth Rate in IT and 8.1 percent growth in Agriculture. IT Exports increased by 100 percent. There was a significant growth happened in Industrial Sector as well'.
Telangana CM told recession had a negative impact on the automobile and civil aviation sectors. He opined, 'Never been before Rupee had such a drastic fall. Revenue Generation has been decreasing in all the sectors. Sad to present the budget in such a worse situation'.
KCR, however, declared Rythu Bandhu Scheme will be implemented inspite of the challenging situation.