Hyderabad,  Telangana Chief Minister K. Chandrasekhar Rao on Monday said that India needs a new direction as both BJP and Congress have proved to be utter flops in governing the country.

He said he may lead the alternative to so-called national parties, to take the country on the path of development and progress.

He described both Congress and BJP as 'storytellers' who failed to give direction to the country and guide it on the right path.

"Both have completely failed and that's why they tell stories. What's the reality today, GDP has crashed by 24 per cent. It's completely destroyed," he said.

The Telangana Rashtra Samithi (TRS) president was talking to mediapersons after releasing the party manifesto for Greater Hyderabad Municipal Corporation (GHMC) elections.

KCR, as Rao is popularly known, said the country definitely needs a new experiment and TRS would be in the forefront to provide the alternative. "I have a plan and I already spoke to many people. You will see it soon," he said while reiterating that he will hold a conclave of like-minded parties.

He said that everyone knows he was a stubborn person when it comes to achieving a goal as happened in the case of separate statehood to Telangana.

He said raising petty issues and whipping up passions for short-term political goals will not do any good to the nation. "I don't want to crticise individuals. The policies of both BJP and Congress have flopped. I can tell you with guarantee that they can do no good to this country," he added.

KCR alleged that both the BJP and the Congress lack the capability to create wealth. He said it was shameful that disinvestment is being used to mobilise funds for the budget. "The country needs a government which can create wealth and distribute that wealth among people. That's what we did in Telangana. The GSDP in the state was Rs.1.12 lakh to Rs.2.28 lakh. This is something like creating wealth. We are distributing this among poor in different ways," he said

He said China overtook India in economic development while some forces kept India embroiled in petty disputes and fights on basis of religion and caste.

He claimed that Hyderabad kept itself away from this trend. "Telangana is not succumbing to this and that's why we are getting massive investments. A single company has invested 25,000 crore. This will give jobs and create employment."

He pointed out that Telangana's Gross State Domestic Product (GSDP) grew at a rate much higher than the Gross Domestic Product (GDP) of the country during last six years.

While GDP grew from Rs.79,118 crore to Rs.1,34,432 at the rate of 9.2 per cent, Telangana's GSDP increased by 12.6 per cent from Rs. 1,12,000 crore to Rs. 2,28,000 crore.

KCR slammed the BJP government at the Centre for disinvestment in Life Insurance Corporation (LIC) and Navratnalu public sector companies.

"For whose benefit are BSNL or LIC or for that matter, the Railways being sold away?" he asked and assured workers of Central Public Sector Undertakings that he will stand by them.