Chief Minister K. Chandrasekhar Rao announced that he will lay the foundation stone for the 125-feet statue to mark 125th birth anniversary of Ambedkar on April 14.
After chairing a meeting with his cabinet colleagues, senior officers and Dalit leaders, he said the statue will be unveiled on the same day next year.
A committee headed by Deputy Chief Minister K. Srihari will identify suitable location in Hyderabad to install the statue.
KCR, as the chief minister is popularly known, said the year-long celebrations to mark 125th birth anniversary will be organised on a grand scale. He directed officials to organise a programme every month. Every district will have special programmes.
The TRS government will also launch distribution of three acres land among Dalits besides undertaking various programmes for their uplift.
The decision by the Telangana government to install 125-feet statue comes few days after Andhra Pradesh made a similar announcement.
Chief Minister N. Chadrababu Naidu had announced in the state legislative assembly on March 29 that the statue will come up in Amaravati, the new state capital being developed in Guntur district near Vijayawada.
Naidu also declared that a memorial park will be built with museum, a Buddhist meditation centre, a museum and a library to highlight the teachings of Ambedkar.
He said the installation of statue and memorial park will be part of the government's plans to develop Amaravati as a tourist hub with its rich Buddhist legacy.