Hyderabad, Nov 7 (IANS) Bharat Rashtra Samithi (BRS) working president K.T. Rama Rao on Thursday defended the previous government’s decision to bring Formula E race in Hyderabad, also known as ‘Hyderabad E-Prix’, and declared that he is ready to go jail.
He told mediapersons that he is ready to be imprisoned if this gives sadistic pleasure to Chief Minister A. Revanth Reddy. He was reacting to some media reports suggesting that he may be booked in Formula E race case.
“If they want to file a case, let them. I’ll go to jail for two months and come back stronger, ready to continue the fight for Telangana’s future,” he said.
Denying the allegations of corruption, KTR said he tried to elevate Hyderabad’s global image, especially through the Formula E race.
The BRS leader claimed he devoted substantial time and resources to promote both the city and the state. He stated: “If anyone intends to imprison me out of political vendetta for bringing investments to Hyderabad, creating an incredible brand for the city, and generating employment opportunities through these investments, I will not back down,” he said.
Responding to allegations of financial mismanagement, KTR clarified that around Rs 40 crore was spent by the government on the Formula E event. He explained that the Formula E race was not just a race but part of a week-long series of events under the Telangana E-Mobility Week, which drew numerous companies to consider investing in Telangana.
KTR mentioned that the Formula E event brought approximately Rs 700 crore in economic benefits and attracted investments worth around Rs 15,000 crore, creating thousands of job opportunities.
He further noted that the funds were part of a tripartite agreement with Hyderabad’s urban development body HMDA, FIA, and sponsors.
KTR emphasised that the Telangana government had made the decision to fund the Formula E race to boost Hyderabad’s brand, attract investments, and create employment opportunities. He clarified that he personally took responsibility for any administrative matters related to the event’s funding and operation.
The former minister highlighted that the Telangana government spent around Rs 50 crore to bring the Formula E race to Hyderabad, and according to studies by global firms like Nielsen, the event generated an estimated Rs 700 crore in benefits for the city.
He also pointed out that the race helped increase Hyderabad’s visibility in over 49 countries, attracting major investments and promoting the city as a hub for electric vehicle technology and manufacturing.
In response to Revanth Reddy’s allegations, KTR clarified that no corruption was involved in the event, with all financial transactions being transparent and approved by relevant authorities. He stressed that the initiative was solely intended to boost Hyderabad’s brand image, promote sustainable mobility, and encourage investments in electric vehicles.
KTR defended the government’s decision to bring the race to Hyderabad, explaining that the Formula E event was a strategic move to position the city as a key player in the global electric vehicle market. He drew comparisons to similar large-scale events in other countries, like the Commonwealth Games and Formula 1 race in Greater Noida, which also involved substantial government spending.
KTR criticised the attempts to undermine Hyderabad’s progress, stating that Revanth Reddy’s political agenda was detrimental to the city’s image. He also dismissed Revanth Reddy’s proposal to host the Olympics in Telangana as an impractical and costly idea.
–IANS
ms/pgh
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
