Telangana Chief Minister K Chandrashekar Rao on Sunday said that the state government has suffered losses to the tune of Rs 1 lakh crore due to the outbreak of coronavirus in March 2020 and subsequent lockdowns and other restrictions later.

KCR said the second wave of corona since April this year too contributed to the severe financial crisis.

KCR toured Siricilla, the home constituency of his son and IT minister KT Rama Rao on Sunday to launch several development programmes and inaugurate the newly-constructed integrated collectorate complex.

However, the severe financial crisis of the state government did not deter KCR from showering sops on Siricilla.

KCR announced sanctioning of new medical colleges, super speciality hospital, tourism circuit and what not.

KCR announced sharp increase in stipend for Anganwadi workers and other ground level medical staff.

KCR also announced launching a new insurance scheme for weavers along the lines of Rythu Bima.

However, KCR stated that the Covid situation in Telangana has now come under control and economic activity is picking up across the state.

He said Telangana state will soon overcome the financial crisis and become a ‘rich state’ very soon.