HYDERABAD: Admitting that he signed the related file and directed the then Municipal Administration & Urban Development (MAUD) special chief secretary Arvind Kumar to transfer Rs 55 crore from the Hyderabad Metropolitan Development Authority (HMDA) funds to organise the Formula E race, former MAUD minister KT Rama Rao on Thursday said: “If the state government want to file a case, let them. I will go to jail for two to three months, come out with a trim body and start a padayatra.”
“If anyone intends to imprison me out of political vendetta for bringing investments to Hyderabad, creating an incredible brand for the city and generating employment opportunities through these investments, I will not back down,” the BRS working president added.
Rama Rao told reporters that the HMDA was an independent body and does not require state government permission to transfer funds. “There was no mistake on Arvind Kumar’s part. He sent the file, and I signed it. It was my responsibility as a minister,” he said.
The former minister took personal responsibility for all administrative matters related to the event’s funding and organisation.
Case should be filed against CM: KT Rama Rao
Subsequently, the BRS working president claimed that the city suffered financially due to the Congress government’s cancellation of the Formula E race. “A case should be filed against Chief Minister A Revanth Reddy for the loss incurred by Hyderabad due to the race’s cancellation,” he said.
‘Event brought Rs 700 cr to city, created jobs’
He clarified that the Formula E race was part of a week-long Telangana E-Mobility Week, which attracted numerous companies to consider investing in the state. Responding to allegations of financial mismanagement, he noted that approximately Rs 40 crore was spent by the government on the event.
Rama Rao claimed the Formula E race attracted investments worth Rs 15,000 crore, creating thousands of jobs. He added that though the previous BRS government spent crores to bring the race to Hyderabad, which, according to studies by global firms like Nielsen, generated an estimated Rs 700 crore in benefits for the city. He recalled that the event increased Hyderabad’s visibility in over 49 countries, attracting major investments and positioning the city as a hub for electric vehicle technology and manufacturing. The BRS leader also asserted that the funds were part of a tripartite agreement involving HMDA, FIA and sponsors.
The former minister pointed out that the previous BRS government’s decision to fund the Formula E race was aimed at boosting Hyderabad’s brand, attracting investments and creating employment opportunities.
‘No corruption in Formula E race event’
In response to the chief minister’s allegations, the BRS working president clarified that there was no corruption in the event, with all financial transactions transparent and approved by the authorities concerned.
He alleged that Revanth’s political agenda was damaging the city’s image and dismissed Revanth’s proposal to host the Olympics in Telangana as impractical and costly, given the estimated expenditure of Rs 2.9 lakh crore.