Nearly two weeks into the new Congress-led government in Telangana, the state has seen notable progress in a variety of industries. Despite the government’s lack of recognition, Telangana outperforms in key economic indices, according to the latest Reserve Bank of India (RBI) report on ‘State Finances: A Study of Budgets 2023-24.’
Telangana distinguished itself in fiscal year 2022-23 by collecting the greatest Own Tax Revenue among all states, accounting for an astonishing 84.2% of total taxes received. This demonstrates the state’s strong economic performance and fiscal stability.
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According to the RBI assessment, Telangana ranks among the bottom five states in terms of ‘Debt to Gross State Domestic Product (GSDP),’ highlighting the state as one of the least burdened by subsidies and indicating good fiscal management.
According to the recent NASSCOM India GCC Trends, Hyderabad has emerged as a prominent hub for Global Capability Centres (GCC), surpassing other cities worldwide. This highlights the city’s critical significance in the global tech environment.
Furthermore, Hyderabad has been named the greatest Indian city to live in for the sixth time in a row by Mercer’s Quality of Living 2023 rankings, highlighting its outstanding living standards.
Despite efforts to depict Telangana, particularly Hyderabad, as a debt-ridden state that has made no development in the last decade, the state has continued to gain recognition from national and international organizations. The emphasis now changes to how the government will use these accomplishments to serve the citizens of the state.
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