India Credit Rating Agency ( ICRA) gives ‘A’ category status to Telangana State

HYDERABAD: Living up to its image as a rich state, Telangana has gained 'A' category status in the rating of India Credit Rating Agency ( ICRA). ICRA had earlier given A-minus to the united Andhra Pradesh, which vindicates the advantage of the bifurcation for the Telangana region.

A communique issued by the Chief Minister's Office ( CMO) said the ICRA has given Telangana 'A' category status in recognition of revenue in terms of tax collection. Attracting investment thanks to its industry policy TS-iPASS, Telangana has emerged as economically advanced state, the communique added.

Surveying the states on the basis of their debt repayment capacity, ICRA has given the ratings in which Telangana's growing economic strength has found a special mention.

As against Rs 74.38 national average of per-capita income, Telangana's per-capita income stood at Rs 95.361.

Thanks to the 'A' category status, Telangana gets priority in terms of availing loan from the national and international agencies, with lower interest rates as compared to the rates imposed on the states with lower rankings.

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