Hyderabad:
KT Rama Rao, the working president of the Bharat Rashtra Samithi (BRS), spoke at a press conference on Thursday, defending his role in promoting Hyderabad, particularly through the Formula E race. He explained that he had financially supported the event as part of his duty as a minister, without needing direct approval from the government. He emphasized that he is willing to face any consequences, including going to jail, if accused of wrongdoing.
Rama Rao highlighted the importance of the Formula E race in raising Hyderabad’s global profile. He mentioned that the event was part of a broader initiative called the Telangana E-Mobility Week, which attracted significant investment into the state. According to him, the race alone brought in Rs 700 crore in economic benefits and investments worth Rs 15,000 crore, creating thousands of jobs in the process.
Addressing allegations of financial mismanagement, KTR clarified that the government spent approximately Rs 40 crore on the event. He explained that the funding for the race came from a joint agreement between Hyderabad’s urban development authority (HMDA), the International Automobile Federation (FIA), and event sponsors. He assured the public that all financial transactions were transparent and approved by the appropriate authorities.
Rama Rao also criticized opposition leader CM Revanth Reddy for attempting to cancel the Formula E event. He claimed that by doing so, Reddy had caused the government’s contributions to the event to go to waste. Despite the opposition’s accusations, KTR reaffirmed his commitment to bringing investments and job opportunities to Hyderabad and Telangana through such initiatives.
