Telangana CM KCR has been proudly stating that Telangana is the second richest state in the country next only to Gujarat. Post the state's bifurcation, Telangana emerged as India's 29th state with a surplus budget. Telangana's economy has been empowered by the taxes being collected in Hyderabad alone.
On the other hand, the government has been on an ambitious mission to invite investments through FDIs and MNCs to the state. However, in the recent list of states that are attracting highest investments chalked out by the Reserve Bank of India, Telangana stood way behind Andhra Pradesh.
While AP, which has been struggling with no capital city to generate revenue and with a huge deficit budget, grabbed the 2nd spot in the list, Telangana occupied the 13th position out of the 29 states. To find out the reason behind this dismal show, the Telangana state's Chief Secretary Rajeev Sharma interacted with the officials from the finance and industrial ministries.
In minutes of the meeting disclosed that Telangana government failed to submit the measures being implemented to attract investments from the national and foreign companies on time, which led to Telangana slipping down to the 13th rank.