Centre should practice fiscal federalism, says Telangana IT Minister

Speaking at a discussion with Tech Mahindra’s CEO, CP Gurnani, on March to 5 Trillion Economy: Reality or ambitious at the 28th Nasscom Technology and Leadership Forum 2020 in Mumbai, Telangana IT and Industries Minister KT Rama Rao said that the $5-trillion economy can be achieved only when the Union government takes bold decisions.

He also stated that when the Union government talks about ‘Team India’, ‘Cooperative Federalism’ it should also practice fiscal federalism.

The Central Government needs to give States more access to the capital and be liberal when it comes to Fiscal Responsibility and Budget Management (FRBM) limits. Only then will the nation develop at a faster pace, he added.