Telangana seeks more central funds for Information Technology Investment Region
news Saturday, December 13, 2014 - 05:30
IANS | The News Minute | December 13, 2014 | 2:55 pm IST Hyderabad: Telangana Chief Minister K. Chandrasekhar Rao on Saturday urged the centre to provide more than the Rs.165 crore sanctioned for creating an Information Technology Investment Region (ITIR) in Hyderabad. He made the request when Minister of Communications and Information Technology Ravi Shankar Prasad called on him here. KCR, as the chief minister is popularly known, said that the central government's support of Rs.165 crores for the first phase of ITIR is inadequate and needs to be increased. Responding positively, the union minister advised the state government to send a formal request to his ministry, said an official release from the chief minister's office. ITIR is to be set up to promote investment in Information Technology (IT)/IT Enabled Services (ITES) and electronic hardware sector. The government has identified area of 202 sq.kms (49,913 acres) in and around Hyderabad. The ITIR is expected to attract a total investment of about Rs. 2,19,440 crores of which the IT/ITES sector will account for Rs. 1,18,355 crores and the Electronic Hardware Manufacturing (EHM) sector Rs. 1,01,085 crores. The state government has sought from the Centre Rs. 4863 crores (Rs. 942 crores for phase-I and Rs.3921 crores for phase-II) for creation of external physical infrastructure. The Centre has approved Rs. 3,275 crores (Rs. 165 crores for phase-I and Rs. 3,110 crores phase-II). KCR told the minister that the IT companies which already have presence in Hyderabad want to expand and need facilities for education and health in ITIR. Prasad noted that Hyderabad is a place of excellence in many ways and also appreciated the state government for its new industrial policy. IT minister K.T. Rama Rao, Chief Secretary Rajiv Sharma and others were also present. Source: IANS
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