Spent Rs 30cr, Telangana got richer by Rs 700cr: BRS

Hyderabad: Dismissing the allegations by CM Revanth Reddy, former minister T Harish Rao said the state benefited by Rs 700 crore with Formula E race in 2022, when the former BRS govt had spent just Rs 30 crore. He said Revanth was making baseless allegations that there were plans to siphon off Rs 600 crore in the Formula E race.
Speaking at a press conference at Telangana Bhavan on Friday, Harish Rao said: "Even if we take 20% GST on Rs 700 crore as reported by Nielsen, both the state govt and Centre get Rs 70 crore revenue towards taxes. In the central GST of Rs 70 crore, the state gets 2% devolution amount," the fomer finance minister said.
He said former minister KT Rama Rao's only mistake was getting Rs 700 crore revenue to the state by spending Rs 30 crore. The ex-minister said KTR was being targeted by the Congress govt as he was exposing the state govt's failures every day.
Harish Rao said the state govt entered into an agreement with Formula E race organisers for three years. The company cancelled the agreement as the state govt failed to pay 50% of the amount. He said 45 lakh pounds meant Rs 47 crore. But the CM told in the assembly that he saved Rs 600 crore, Harish Rao said.
Criticising Revanth as a ‘visionless CM' who ruined Brand Hyderabad and Telangana's image, Harish Rao said the state lost another Rs 700 crore apart from losing its brand image.
Meanwhile, KTR, during an informal chat with the media, said minister Ponnam Prabhakar himself announced that there were procedural lapses but there was no corruption. "When there was no corruption, how could ACB book a case for corruption," he asked. He said the HMDA has powers to release funds for Hyderabad development and does not require any permission from the govt.