Union Budget 2022: Telangana Minister KTR Seeks Allocation Of Rs 15,000 Cr For Industrial Growth

The IT and Industry minister sought allocation of funds for initial capital expenditure and operational costs from the Centre for the next eight years

Telangana Minister KTR. (Image: PTI File)

New Delhi: Minister for IT, Industries in Telangana, KT Rama Rao, on Sunday appealed to the Centre to sanction Rs 15,000 crore funds in the upcoming budget session 2022-23 for the industrial development in the state.

KT Rama Rao has written on Sunday to Finance Minister Nirmala Sitharaman urging her to provide budgetary support to the industrial infrastructure projects undertaken by the Telangana government. The minister sought allocation of funds for initial capital expenditure and operational costs from the Centre for the next eight years.

The government seeks financial aid from the Centre to boost the development of two nodes -- Hyderabad Pharma City (HPC) and National Industrial Manufacturing Zone (NIMZ) -- and an additional node at Mancherial.

"The State is planning to establish a larger aerospace and Defence park at Eliminedu and also create another aerospace cluster within the National Investments and Manufacturing Zone (NIMZ) coming up in Medak district. We are also planning to set up a Defence incubator in Hyderabad with the Centre’s support," Minister KTR said as quoted by Telangana Today.

Telangana has reputed educational institutions including 26 universities that create human resources fit for the Defence and Aerospace industries. The state has got a great set-up for the industries in defence and aerospace sectors with several established companies in Hyderabad.