Corruption Allegations Ignite Debate over Hyderabad Formula E Race

Telangana's Anti-Corruption Bureau has filed an FIR against BRS's KTR over alleged financial irregularities concerning Hyderabad's Formula E race. KTR urges a public debate in the Legislative Assembly, condemning what he calls baseless accusations. The cancellation of the 2024 race spurred political tensions.

The Telangana Anti-Corruption Bureau has lodged a First Information Report against BRS Working President and MLA Kalvakuntla Taraka Rama Rao, along with two others, under the Prevention of Corruption Act. This action relates to alleged financial misconduct linked to the Hyderabad Formula E racing event, according to officials.

In response, KTR has invited a transparent discussion in the Telangana Legislative Assembly to address the allegations. Denouncing what he deems baseless accusations from the current state government, KTR has expressed readiness to clarify the matter publicly.

Specifically, KTR points out that the previous BRS-led government saw the Formula E race as a significant opportunity for Telangana and Hyderabad. The successful 2023 event reportedly boosted the regional economy by approximately Rs700 crore, as per a Nielsen report. Despite plans for a 2024 event, the new administration led by CM Revanth Reddy abruptly canceled it, fueling political discord.

(With inputs from agencies.)