Hyderabad, Jan 10 (.):: Telangana Deputy Chief Minister Bhatti, at the pre-budget meeting with the union Finance Minister Nirmala Sitharaman at Delhi, on Saturday emphasised the need for greater fiscal autonomy and increased resources for states to achieve India’s vision of a USD 30 trillion economy by 2047.
Highlighting Telangana’s contribution of 5.1 per cent to India’s GDP, Bhatti said the state aims to become a USD 3 trillion economy by 2047, under the “Telangana Rising 2047 Vision” launched by Chief Minister A Revanth Reddy recently.
He stressed that to sustain growth, states should be allowed fiscal deficit targets of at least 4 per cent of GSDP, and 50-year interest-free loans to states should be converted into grants.
Bhatti also called for increased investment in education and health, citing plans for Yung India Integrated Residential Schools and super-speciality hospitals across Telangana.
He urged the Centre to transfer Rs. 2.21 lakh crore saved from reducing central expenditure on State subjects, and to address the issue of cesses and surcharges, which reduce effective tax devolution to States.
The Deputy CM also highlighted key project funding requests, including the Regional Ring Road (RRR),Hyderabad Metro Phase 2, IIM in Hyderabad, new airports, and Semiconductor and Electronics Manufacturing clusters in the state.
He requested the Palamuru Rangareddy Lift Irrigation Scheme be declared a National project.
Bhatti reiterated Telangana’s commitment to cooperative federalism and expressed hope that the state’s proposals would be positively considered in the upcoming union Budget.
The pre-budget meeting with union Finance Minister and Minister of State for Finance Pankaj Chaudhary, was attended by fellow Finance Ministers of States, and Officials of the union and State Governments.
. KNR