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Telangana urges Centre to release funds for IT Investment Region

IANS  |  Hyderabad 

The on Sunday urged the Centre to release funds for Investment Region (ITIR) as per a commitment made four years ago.

Minister K.T. Rama Rao on Sunday wrote a letter to Union Minister Ravi Shankar Prasad regarding what he said was the inordinate delay in the release of the promised financial assistance for the project sanctioned in 2013 to promote investment in and IT-enabled services and electronic hardware sector.

He said the state had submitted the proposal to the Centre in 2010 for creation and development of ITIR over 202 sq. km. The Centre formally sanctioned the project in September 2013.

Subsequently, a Detailed Project Report for ITIR was submitted twice to the central to seek Rs 4,863 crore for the creation of external physical infrastructure. The Centre approved support to an extent of Rs 3,275 crore.

Rama Rao, who is the son of Chief Minister K. Chandrasekhar Rao, wrote that even after repeated reminders, funds were not released.

He said the growth of IT exports from the state in three years had consistently surpassed the country's average growth rate. For 2016-17, Telangana's IT exports have grown by 13.85 per cent -- almost 4 per cent more than the national average.

The Minister urged the Centre to expedite sanction of funds for various infrastructure projects under the ITIR.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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