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Telangana drew Rs 4.1 trillion investments in 7 years, created 10 L jobs: MSME body

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By Express News Service

HYDERABAD: The Telangana government’s TS-iPass scheme, introduced in 2014, has attracted over Rs 4.1 trillion in investments while generating around 5 lakh direct jobs and an equal number of indirect jobs, despite Covid-19, according to a study on development of Telangana.

It was released jointly by D S Rawat, Chairman, MSME Export Promotion Council and Jigish Sonagara, Founder & CEO BillMart Fintech, a knowledge firm. The study jointly undertaken by the MSME EPC and BillMart has revealed that the State has achieved an unique position of projects getting clearances from 38 different departments in a span of less than 10 days. 

Rawat said that this initiative has significantly contributed to the Ease of Doing Business (EoDB) in the State. Referring to the CMIE CapEx database, Rawat said, in terms of count of projects announced, there has been a surge.

Prior to the TS-iPass scheme, 1,126 project announcements were made and it increased to 1,461 post the implementation of the scheme which is a 30 per cent increase in the project count.In 2020-21, 218 projects worth Rs 399 billion were under implementation against 109 projects worth Rs 309.6 billion in 2019-20 under implementation which is around a 29 per cent higher.

Per capita income rises

The per capita income of the State increased by 125 per cent in the past seven years from Rs 1,24,104 in 2014-15 to Rs 2,78,833 in 2021-22. The GSDP increased from Rs 5 lakh crore in 2014-15 to Rs 11.54 lakh crore in 2021-22. 

Sonagara said, as per the CMIE report, as on May 31, 2022, new investments in the State have significantly increased and though youngest yet fastest growing states.  In 2019-20, the new investment projects announced were worth Rs 51,822 crore, investment projects completed were worth Rs 12,354 crore and Rs 4,744 crore worth of projects were revived.