Cooperative federalism between Centre, states must for achieving Viksit Bharat: Bhatti | Hyderabad News
Hyderabad: Telangana is ready to play a key role in achieving the Viksit Bharat-2047 goal, deputy chief minister Bhatti Vikramarka said, while making it clear that Telangana views the ambitious economic targets set by the country not as distant aspirations, but as an immediate responsibility requiring concrete action.The deputy CM, who is also the finance minister, addressed a conference on “Mobilising financial resources for India’s journey towards Viksit Bharat,” held in New Delhi on Saturday under the leadership of Union finance and corporate affairs minister Nirmala Sitharaman.The goal of building Viksit Bharat cannot be achieved by the Centre or the states independently, Bhatti said, and stressed the need for the Centre and states to move forward together in the spirit of cooperative federalism. He emphasised the need for effective mobilisation of both public and private resources, along with strong institutions and policies based on mutual cooperation.He said Telangana was participating in the discussion not merely to seek funds, but with a clear development plan, a defined strategy for mobilising financial resources, and a long-term vision.The deputy CM said Telangana was ready for the next phase of growth with strong economic foundations. The state’s Gross State Domestic Product (GSDP) reached ₹17.8 lakh crore in 2025–26, registering 10.7% growth at current prices. At constant prices, real GSDP growth was estimated at 8.5%.He said Telangana’s per capita income had risen to ₹4,18,931, nearly twice the national average of ₹2,19,575. The services sector recorded growth of 13.5%, while the secondary sector grew by 9.4%, he said.“At the current growth trajectory, Telangana’s economy is estimated to reach $1.2 trillion by 2047. However, the state govt has set a much more ambitious target of transforming Telangana into a $3 trillion economy by 2047. The objective is also to increase Telangana’s share in the national economy from the present level of around 5% to 10%,” Bhatti said.To build a $3 trillion economy, Telangana needs to change the way infrastructure is financed, Bhatti said. He stressed the need to gradually move away from excessive dependence on govt borrowing to finance roads, bridges and other infrastructure.He said Telangana was moving towards a model that would mobilise larger investments from private investors, institutional funds and sovereign funds, while using govt resources strategically.Govt funding would play a key role in reducing investor risk, bridging viability gaps and building confidence among private investors, he said. To achieve this, the state was strengthening mechanisms such as public-private partnerships (PPPs), green bonds and blended finance, he added.Development should not be confined to a single city and rural areas should not be left behind, the deputy chief minister said. With this objective, Telangana has developed a distinctive development model based on three interconnected economic regions — CURE, PURE and RARE.The CURE (Core Urban Region), centred around Greater Hyderabad, is being developed as a hub for high-end services, artificial intelligence, global capability centres, fintech, life sciences and knowledge-based industries, he said.The PURE (Peri-Urban Region) along major transportation corridors will be developed as a hub for industrial and manufacturing activities, he said.Through RARE (Rural Agricultural and Resource Economy), the state aims to provide a new impetus to the rural economy. Digital technology in agriculture, expansion of food-processing clusters and development of cold-chain infrastructure will connect rural producers with domestic and international markets that offer higher-value opportunities, he said.Bhatti said Bharat Future City, spread across more than 30,000 acres, was being developed as a model for the cities of the future in India. The city was being envisioned as the country’s first net-zero, AI-enabled green megacity. It would include world-class universities, international research centres, clean technology parks and environmentally sustainable residential areas, he explained.The Regional Ring Road (RRR) would be one of the key infrastructure projects connecting the CURE, PURE and RARE regions, he said.Chief ministers and finance ministers of various states, senior officials of the Union and state finance departments, and economic experts participated in the conference. From Telangana, the deputy CM was accompanied by Gaurav Uppal, secretary, finance and planning department.
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