More funds for IT sectors and departments in Telangana budget 2024-25

The Telangana Budget 2024-25 has earmarked ₹2,762 crore for the Department of Industries and ₹774 crore for the Department of Information Technology. The image is used for representational purposes only. | Image Source: NAGARA GOPAL

Telangana Finance Minister Mallu Bhatti Vikramarka, in his state budget speech for 2024-25 on Thursday, announced a comparatively higher amount of Rs 2,762 billion for the Department of Industries and Rs 774 billion for the Department of Information Technology.

He emphasised the state government’s emphasis on skill development as a tool to enable Telangana to continue to attract global investments, along with its commitment to making the most of the growth opportunities that come with the development of Artificial Intelligence (AI).

While the Budget Estimates (BE) for 2023-24 was pegged at ₹4,037 crore for the Department of Commerce and Industries, the Revised Estimates (RE) for the last fiscal was ₹567 crore. Similarly, for the Department of Information Technology and Communication, the BE was ₹366 crore and RE ₹194 crore, respectively.

The higher budget allocation comes in the backdrop of demands by businesses and entrepreneurs to the state government for payment of outstanding incentives worth over Rs 30 billion.

About the departmentsMr. Vikramarka said the state government has decided to set up and run Telangana Skill University in Hyderabad in the current fiscal year on a public-private partnership (PPP) basis. The proposed university will offer as many as 17 different certificate, diploma and degree courses that are industry-related, practical and job-oriented. “Our aim is not only to make Telangana a leading destination for global investors but also to develop world-class skills among our youth to make them competitive in the job market at the local and global levels,” he said in his budget speech.

Leader in Artificial Intelligence

Noting that Telangana has made good progress in the field of AI, the Finance Minister said, “we are drawing up plans to make Hyderabad a leader in this sector. Hyderabad will soon become a research hub for advanced AI.”

Hyderabad is also hosting the Telangana Artificial Intelligence Summit with the theme ‘Making AI Work for Everyone’. The summit will be held on September 5-6. Around 2,000 experts, influencers and delegates are expected to participate in the summit, which is expected to help Telangana advance in the AI ​​sector.

Nizam Sugars revival on cards

Mr. Vikramarka said the Congress government is keen to “restart” Nizam Sugars Limited, which was the pride of Telangana before it was shut down due to various issues. “Nobody has shown any interest in its revival till now. But when this government came to power, we constituted a committee in January 2024 to revive Nizam Sugars. Soon, the long-cherished dream of the people of Telangana, Nizam Sugars Limited, will be restarted.”

Fiber optic mesh for the back office

The government also plans to extend optical fibre network to remote areas in Telangana. The move will provide internet and cable network to the local population and will also be useful for tourists visiting remote areas, helping in development of eco-tourism, he said.