HYDERABAD: Telangana State government is preparing a new Revenue Act. A Bill to this effect will be introduced in the ensuing Budget session of the State Legislative Assembly.
Chief Minister K Chandrasekhar Rao announced this after unfurling the national flag at Golconda Fort on the occasion of 73rd Independence Day on Thursday. "The archaic and obsolete Revenue Acts have inflicted immense damage to farmers and the people. We have to undo these damages. Hence the government is engrossed in preparing a new revenue Act," Rao said.
The proposed act would give no room for corruption or laxity, he averred. The Chief Minister said that the IT exports from the state increased from Rs 52,000 crore to Rs 1.10 lakh crore. Rao said that the economic and financial growth of the Telangana for the past five years had been steady.
"We could achieve this due to our fiscal discipline, which gave no scope to any corruption and which led to timely and speedy decisions. According to a report announced by the Central government, in 2018-19 financial year, Telangana figured among the top states in Gross State Domestic Product (GSDP) with 14.84 per cent growth rate. The resources accrued due to the steady income growth have been utilised in a planned manner which has resulted in doubling the State’s wealth in the last five years. At the time of formation of Telangana state, the State’s wealth was about Rs 4 lakh crore and now it is worth Rs 8.66 lakh Crore. This is an indicator of the economic growth of the State," Chandrasekhar Rao claimed.