Telangana Government is keen on making Hyderabad a leader in AI sector. A view of Hyderabad’s IT hub. File
| Photo Credit: NAGARA GOPAL
Telangana Finance Minister Mallu Bhatti Vikramarka announced a comparatively higher allocation of ₹2,762 crore for the Industries Department and ₹774 crore for the Information Technology Department in his State Budget 2024-25 speech on Thursday.
He reiterated the State government’s emphasis on skill development as an enabling tool for Telangana to continue attracting global investments as well as a commitment to make most of growth opportunities accompanying the emergence of Artificial Intelligence (AI).
Though Budget Estimates (B.E) for 2023-24 were pegged at ₹4,037 crore for the Industries and Commerce Department, the Revised Estimates (R.E.) for the last fiscal stood at ₹567 crore. Likewise, for Information Technology and Communications Department the B.E. was ₹366 crore and R.E. ₹194 crore respectively.
The higher budget allocation assumes significance in the context of the demands of industries and entrepreneurs to the State government to disburse the pending incentives totalling more than ₹3,000 crore.
On the DepartmentsMr. Vikramarka said the State government has decided to establish and run Telangana Skill University in Hyderabad in the current fiscal on a Public Private Partnership (PPP) mode. As many as 17 different industry-linked, practical and job-oriented certificate, diploma and degree courses will be offered by the proposed university. “Our objective is to not only make Telangana a leading destination to attract global investors but also to develop world-class skills in our youth to make them job-competitive locally and globally,” he said in his budget speech.
Leader in AI
Noting that Telangana has made great progress in the field of artificial intelligence, the Finance Minister said “we are preparing plans to make Hyderabad a leader in this sector. Hyderabad will soon become a research centre for advanced artificial intelligence.”
Hyderabad is also set to host Telangana Artificial Intelligence Summit with ‘Making AI work for everyone’ as the theme on September 5-6. About 2,000 experts, influencers and delegates are expected to attend the summit that will aid Telangana’s progress in AI sector.
Nizam Sugars revival on cards
Mr. Vikramarka said the Congress government is keen on “relaunching” Nizam Sugars Limited, which was the pride of Telangana before it closed down due to various problems. “So far, no one showed interest in its revival. But when this government took over, we appointed a committee in January 2024 for the restoration of Nizam Sugars. Soon, the long cherished dream of Telangana people, Nizam Sugars Limited, will be relaunched.”
Fibre grid for hinterland
Also, the government is planning to extend the fibre grid facility to remote areas in Telangana. The move will enable the internet and cable network facilities for local people while also being useful for tourists visiting remote areas, aiding eco-tourism development, he said.
