The Telangana government is targeting to garner revenues of around Rs 4,800 crore from the mining industry this year, as compared with Rs 2,770 crore last year, State Information Technology and Industries Minister KT Rama Rao said on Monday.
“Telangana generates the highest income among all the five southern States. While the state clocked revenues of Rs 2,770 crore last year, we are expecting it to be close to Rs 4,800 crore this year,” he said, adding that the State already had a well-drafted sand, mines and minerals policy in place.
Rao was addressing the Federation of Indian Chambers of Commerce and Industry (FICCI)’s first national executive committee meeting held in Hyderabad post the bifurcation.
According to the Minister, the State government is currently purchasing anywhere between 1,200 MW and 1,400 MW of power on a daily basis to meet the requirements of the state. “The State had already awarded 3,000-MW renewable power projects that will require an investment of about Rs 15,000 crore,” he said.
Replying to a query on the open access policy, Rao said there were certain limitations as it may potentially impact the revenues of the loss-making distribution companies (discoms). “We started as a power deficit State. The situation was so bad that we witnessed industrialists staging dharnas demanding that adequate power be supplied to their industries.
However, we started purchasing power from day one of coming into power. At present, we are happy to say that we are buying 1,200-1,400 MW of power on a daily basis,” the Minister said.
Stating that his government was in the process of increasing the power production, Rao said the Plant Load Factor, an indicator of power generation capacity of a power plant, of state-owned power projects stood at about 90 per cent, as compared with 60 per cent earlier.
On the IT front, he said IT sector in the State had created nearly 80,000 new jobs during the last two years and was occupied the second position in terms of exports on an all-India basis, next to Bengaluru.