KTR Responds To Allegations Over Hyderabad's Formula E Race

Amidst criticism and accusations from Congress leaders including CM Revanth Reddy and some media outlets, BRS working president K T Rama Rao today vigorously defended his efforts to bring the Formula E races to Hyderabad, as intended to elevate Hyderabad's global image.

KTR claimed that he had devoted substantial time and resources to promote both the city and the State. "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 in the event, KTR said that he personally took responsibility for any administrative matters related to the event's funding and operation. He said that around Rs 40 crore was spent by the government on the event. He added that the Formula E event was not just a single 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. He claimed that the event brought in approximately Rs 700 crore in economic benefits, helped increase Hyderabad's visibility in over 49 countries, attracted investments worth around Rs 15,000 crore creating thousands of job opportunities, and promoted the city as a hub for electric vehicle technology and manufacturing.

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.

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 all the 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.

He criticized Revanth Reddy's attempts as undermining Hyderabad's progress, and said that Reddy's political agenda was detrimental to the city's image. "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.

He also dismissed Reddy's proposal to host the Olympics in Telangana as an impractical and costly idea.