Harish Rao Slams Congress Govt: Says Telangana’s Economy on Brink of Collapse
Former minister T. Harish Rao has expressed deep concern that Telangana’s economy is heading towards collapse under the Congress government.
Hyderabad: Former minister T. Harish Rao has expressed deep concern that Telangana’s economy is heading towards collapse under the Congress government.
In a statement here on Tuesday, he said the sustained deflation underscores policy paralysis, financial mismanagement, and vendetta-driven governance that have crippled local markets, slowed growth, and pushed Telangana’s economy into a dangerous downward spiral.
While India’s retail inflation is recorded at 1.54%, Telangana has been witnessing negative inflation, signaling a slowdown and economic decline.
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Harish Rao pointed out that in June (-0.93%), July (-0.44%), and September (-0.15%), Telangana recorded deflation in three out of four consecutive months, which clearly reflects the government’s failure.
The BRS MLA noted that this is the first time since the formation of Telangana that the state has recorded negative inflation on three occasions within a short period.
He added that during festivals like Bathukamma and Dasara, consumer spending usually increases, leading to positive inflation, but the fact that negative inflation has been recorded even during this period proves the government’s economic mismanagement.
Under KCR’s leadership, Telangana stood as a model for development across the nation, but under Revanth Reddy’s corrupt and chaotic governance, the state is sliding into financial decline, the BRS MLA said.
Harish Rao urged the Chief Minister to abandon his bulldozer politics and vindictive attitude, and instead focus on reviving Telangana’s collapsing economy and ensuring financial stability.
