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New Indian Express
a day ago
- Business
- New Indian Express
Cash-strapped Punjab government to raise Rs 8,500-crore loan during July-Sept
CHANDIGARH: The cash-strapped Aam Aadmi Party (AAP)-led Punjab government has decided to avail a loan of Rs 8,500 crore during the second quarter of the present fiscal - July to September. With this, the total borrowings raised by the government during this fiscal year will touch Rs 14,741. 92 crore. The opposition accused the government of pushing the state into financial ruin and warned that Punjab is on the brink of bankruptcy. Sources said that the Reserve Bank of India (RBI) has approved the market borrowings to be availed by the state government. The government would raise a loan of Rs 2,000 crore in July, Rs 3,000 crore in August and Rs 3,500 crore in September. During April and May, the government availed loans to the tune of Rs 6,241.92-crore. The government is mulling to raise Rs 34,201.11 crore loans this year. Thus, by the end of March 2026, the total debt of the state is likely to touch Rs 4 lakh crore. Sources said that, till March last year, the state's total outstanding debt stood at Rs 3.82 lakh crore which is over 44 per cent of the Gross State Domestic Product (GSDP). A report on debt-stressed states in the country, tabled in Parliament by Union Minister of State for Finance Pankaj Chaudhary had expressed concern on the debt-to-GSDP ratio of Punjab as it stated that it was the second highest in the country. During the first two months of this fiscal year April and May the state's revenue deficit was Rs 5,513.65 crore and it received Rs 12,903. 04 crore in revenue receipts, while the revenue expenditure stood at Rs 18,416.69 crore. "We are raising loans at the lowest rate of interest prevailing in the market as the borrowings were within the permissible limit set by the RBI,'' said an officer on condition of anonymity. Leader of the Opposition and senior congress leader Partap Singh Bajwa said, "The AAP government has drowned Punjab in debt over its three-year tenure. It now plans to borrow Rs 8,500 crore in the second quarter (July-September) of this fiscal year—Rs 2,000 crore in July, Rs 3,000 crore in August, and Rs 3,500 crore in September. This reckless borrowing shows no regard for the state's financial health,' he said.
Time of India
5 days ago
- Business
- Time of India
AP inks Rs 10,328 cr in tourism MoUs, 22K jobs expected
Vijayawada: Andhra Pradesh govt on Friday signed more than 80 memoranda of understanding (MoUs) with leading international and domestic investors in the private tourism sector, amounting to 10,328 crore. The MoUs were formalized in the presence of chief minister N Chandrababu Naidu at the AP Tourism Tech AI 2.0 conclave here. These partnerships are expected to generate employment for 22,325 people and add 7,600 new hotel room keys across the state over the next four years. Naidu announced plans for robust tourism infrastructure, including a domestic airport in Madanapalle of Annamayya district. He extended an invitation to Patanjali Ayurved, led by Baba Ramdev, to develop a world-class wellness centre at Horsley Hills in Annamayya district, and proposed Baba Ramdev serve as a tourism advisor to the govt. Reaffirming tourism as a transformative force, Naidu remarked that while ideologies like socialism, capitalism, and communism may fade, "tourism will be the only 'ism' to endure", calling it a catalyst for sustainable growth. With a vision to evolve into a $2.4 trillion economy under the Swarnandhra @2047 blueprint, Naidu said the state aims for a 20% growth rate in tourism, scaling its contribution to the GSDP from 74,000 crore to 2.4 lakh crore by 2028-29. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cuối cùng, chơi miễn phí game chiến thuật hay nhất 2025! Sea of Conquest Phát ngay Undo "The govt is planning to scale up the room inventory from the present 20,000 to 50,000 over the next four years, besides 10,000 plus homestays across tribal, rural, coastal, and heritage regions. This targets generating two million jobs through the tourism sector alone and enhancing the per capita income and standard of living of the poor in the state," Naidu noted. "Andhra Pradesh has the best temples, 21 of which generate wealth running into crores through hundi offerings and others. From ancient cities and a 1,000 km coastline to forest reserves and riverine systems like the Godavari and Krishna, the state's natural and spiritual assets are second to none. The govt is also developing seven anchor hubs, including Vizag, Araku, Rajahmundry, Amaravati, Srisailam, Gandikota, and Tirupati, and over 25 thematic circuits, including 10 temple circuits, 5 coastal, 4 river routes, 2 cruises, 2 Buddhist, and 3 ecotourism trails," Naidu mentioned. On the occasion, the CM launched the state's tourism digital calendar, strategy paper, brochure, and event schedule. Earlier in the day, he flagged off the caravan tourism initiative, promoting sustainable tourism in lesser-known destinations. Patanjali founder Ramdev Baba, tourism minister Kandula Durgesh, APTDC chairman Dr Nukasani Balaji, GFST director Cherukuri Kutumba Rao, and senior officials were present.
The Hindu
5 days ago
- Business
- The Hindu
Naidu unveils vision to make A.P. a global tourism destination
Chief Minister N. Chandrababu Naidu on Friday unveiled an ambitious vision to position Andhra Pradesh as a global leader in tourism. Addressing a gathering of industry leaders, policymakers, and stakeholders at 'Andhra Pradesh Tourism Conclave Tech AI 2.0' in Vijayawada, the Chief Minister described tourism as the engine of future growth and emphasised its central role in driving economic transformation, employment generation, and cultural promotion. As many as 82 MoUs worth ₹10,329 crore were signed at the conclave. Speaking about the need to promote yoga and natural wellness, Mr. Naidu said Andhra Pradesh will be the wellness and happiness destination of the future. He invited yoga guru Baba Ramdev, who was present on the occasion, to promote wellness tourism in the State and take on an advisory role. Tourism, the only '-ism' Highlighting the tourism sector's transformative power, Mr. Naidu reiterated his oft-repeated line: 'All other 'isms' may fade, but tourism is the only '-ism' that will survive.' He reinforced the idea that tourism is not only a cultural and economic catalyst, but also a sustainable engine for inclusive development. 'Globally, one in every 10 jobs is from tourism,' he pointed out, emphasising the sector's potential to create eight jobs for every ₹1 lakh invested, which is more than IT, manufacturing, or agriculture. He shared plans to increase the sector's employment share from 12% to 15%, and its contribution to GSDP from ₹74,000 crore to ₹2,40,000 crore by 2029. Empowering communities Speaking about the inclusive homestay policy, Mr. Naidu said the target was to create 10,000-plus homestays across tribal, rural, coastal, and heritage regions. 'From 19,500 rooms today, we aim to scale up to 50,000 rooms by 2029,' he said. In the past, his idea was to promote one IT professional in every family, and now he is eager to achieve the 'one family, one entrepreneur' goal. The proposed Ratan Tata Innovation Hub at Amravati would help the government achieve its target, he said. 'Andhra Pradesh has the best temples, and 21 of them generate wealth,' Mr. Naidu said, and cited the gifts of the State including the ancient cities, a 1,000-km coastline, forest reserves and riverine systems like the Godavari and Krishna. 'The government is developing seven anchor hubs at Visakhapatnam, Araku, Rajahmundry, Amaravati, Srisailam, Gandikota, and Tirupati and over 25 thematic circuits, including 10 temple circuits, five coastal, four river routes, two cruises, two Buddhist sites and three eco-tourism trails, he said. A win-win opportunity The Chief Minister said the State had designed an investor-friendly Tourism Policy 2024-29, which proved to be a game-changer and shattered the myth that only the wealthy can invest in tourism sector. 'Tourism has now been granted industry status across segments, with incentives like 100% stamp duty exemption, electricity duty reimbursement for five years, SGST reimbursements for up to 15 years, and fast-tracked clearances under the 'Speed of Doing Business' initiative, he said, adding, 'Speed of doing business in real-time will cut red tape. I'm ready to introduce more reforms if needed.' Mr. Ramdev lauded Mr. Naidu's leadership and his transformative governance. He called for the development of Horsley Hills as an international wellness destination, integrating yoga, Ayurveda, and naturopathy. He also announced plans to set up Patanjali wellness centers across Andhra Pradesh and suggested promoting scenic locations as premium wedding venues, celebrating Indian traditions. Mr. Naidu responded by promising full support, including an airport at Madanapalle, to boost wellness tourism. Earlier, the Chief Minister flagged off the Caravan Tourism initiative, offering modern, mobile travel solutions for families and groups. He also released the State Tourism Digital Calendar along with a new brochure, strategy paper, and annual tourism event schedule. Tourism Minister Kandula Durgesh, Special Chief Secretary, Tourism and Culture, Ajay Jain, Managing Director of AP Tourism Development Corporation (APTDC) and CEO of Andhra Pradesh Tourism Authority Amrapali Kata, Director of Global Forum for Sustainable Transformation (GFST) Cherukuri Kutumba Rao and its vice-chairman S.P. Tucker and others were present.
Time of India
22-06-2025
- Business
- Time of India
‘Telangana not born out of chance': KT Rama Rao hails state's rise at Oxford forum, calls it India's most successful post-Independence story
K T Rama Rao calls Telangana the most successful state in independent India. He says the state achieved development goals across sectors. Telangana's GSDP increased significantly since 2014. HYDERABAD: Describing Telangana as the most successful state in independent India, BRS working president KT Rama Rao said the state was not created by chance but was the outcome of decades of peaceful, democratic struggle. He stated that Telangana has demonstrated not only promise but also consistent achievement of development goals across various sectors. He noted that the formation of the state in 2014 marked the culmination of long-held aspirations, and that in a short span, it had transformed into a model state admired both across India and globally. While delivering a talk at the Oxford India Forum held at the University of Oxford, KTR highlighted Telangana's exceptional growth story since its formation. Speaking on the theme 'Governing Innovation - A Telangana Case Study', he explained how India's youngest state has emerged as a beacon of inclusive development, resilience, and economic transformation. The BRS legislator presented impressive economic indicators supporting Telangana's growth. "The state's Gross State Domestic Product (GSDP) increased from 4 lakh crore to 15 lakh crore, and its per capita income surged from 1.12 lakh to 3.57 lakh. Telangana rose from 12th position in national economic rankings to among the top positions in multiple sectors, including agriculture, industry, and technology," he said. KTR also termed the Kaleshwaram project as the world's largest lift irrigation scheme, completed in a record four years.
New Indian Express
21-06-2025
- Business
- New Indian Express
Odisha Vision 2036-2047 focuses on economic hubs, industrial push, infrastructure, women-led growth
BHUBANESWAR: Odisha on Thursday laid out a bold and time-bound strategy to become a developed state by 2036 and a USD 1.5 trillion economy by 2047. Released by Prime Minister Narendra Modi, the Vision-2036 blueprint, part of the broader 'Viksit Odisha for Viksit Bharat' agenda, sets ambitious targets to rapidly urbanise, double employment, and attract massive investments to the state. The vision focuses on six foundational pillars: people first, rural empowerment, people-centric governance, prosperity for all, our legacy our pride, and technology leading the way. These encompass priority areas such as women-led development, quality education, universal healthcare, green energy, smart agriculture, and cultural revitalisation. The state has set a target for the creation of over one crore new jobs, backed by massive investments in manufacturing, green energy, agriculture, skilling, and tourism. A core part of this plan is the creation of world-class economic agglomerations. It envisages a Bhubaneswar-Cuttack-Puri-Paradip Economic Region (BCPPER), which will be developed into a USD 500 billion hub, contributing to one-third of the state's GSDP by 2047.
