Telangana govt's target is $1 trillion economy: CM

Speaking after launching a skill development programme in BFSI (Banking, Financial Services and Insurance) sector here, he said his government would work to make the state a USD one trillion economy.

Observing that world-renowned CEOs like Satya Nadella, Shantanu Narayen and World Bank president Ajay Banga are alumnus of Hyderabad Public School (HPS), he said he has urged such personalities, during his recent US visit, to visit the city in December and help the state government in its initiatives like the skills university.

The IT revolution has led to large scale creation of employment opportunities in Hyderabad and his government is making efforts to get some prestigious universities here to improve the city's brand image.

"We have to compete with the world, not with Andhra Pradesh or Bengaluru, Chennai or any other city of India," Reddy said.

More than 50 per cent of the population in the country are youth and what is lacking is technical expertise. Hyderabad should emerge as the hub to provide that expertise, he said.

The governments implement welfare schemes like social security pensions, housing for poor but it is not innovative thinking. The governments, either state or Central, need to focus on skill development and creation of employment opportunities, he said.

He highlighted the state government's initiatives, including skills university, sports university, transformation of ITIs as Advanced Technology Centres and others.

About one lakh engineering graduates are coming out of colleges every year in the state but some of them do not have even basic knowledge in some areas, he said.

The reason for that is teaching staff and others in those colleges not being up to the mark, he said.

The Chief Minister told the managements of such colleges that their permissions would be cancelled in the future if the same situation continued.

Referring to some engineering graduates and other college students being caught for their alleged involvement in selling narcotics like ganja, he asked if such a scenario can be left unchecked.

Some in public life sometimes speak as if they are supporting those who are guilty, he said, adding that the government needs to act tough to check the menace.