Bhatti Vikramarka's Vision: Building A Vibrant Telangana

• General

• December 24, 2024

Deputy Chief Minister Bhatti Vikramarka said there would be a vibrant Telangana in the near future-a Telangana with greater development and welfare programs, he said. He welcomed the Musi River reviving project as a new initiative and announced plans for skills, sports universities and a pharma village as part of his vision of progress for the state.

During the 'State Bankers' Committee' (SLBC) meeting held at Praja Bhavan, Bhatti was accompanied by Agriculture Minister Tummala Nageswara Rao, Special Chief Secretary for Finance Ramakrishna Rao, and senior banking officials. Speaking on the occasion, he appealed to the bankers to be forward-looking in line with the vision of "Telangana Rising" and focus on planning for effective loan distribution.

Key Development Highlights

• Regional Ring Road Inroads: Permissions to develop the Regional Ring Road were granted, and tenders for the same will soon be invited.
• Agriculture and Loan Targets: The target crop loan during the 2024 Kharif season was ₹54,480 crore. Already ₹40,438 crore or an approximate 81.57% has been disbursed. Bhatti stressed that loan disbursal at the current Rabi season needs to speed up fast to meet agricultural demands

Banking and Agriculture Reforms

The Deputy Chief Minister of the state drew attention to a disparity in loan collection and disbursement and called upon the need for timely provisions of loans for farmers. As part of the farmer loan waiver scheme over the past two months, the state government had deposited ₹21,000 crore with banks. He appealed to bankers to focus on:

• Agricultural Mechanization: Organize fairs, liberal loans, purchase latest machinery and develop oil palm cultivation.
• Micro, Small, and Medium Enterprises (MSMEs): The state government is supporting MSMEs to create employment opportunities, increase production, and thus enhance the Gross State Domestic Product (GSDP).
• Green Energy Investments: The government has collaborated with self-help groups to set up 1,000 MW of solar power plants. Bhatti appealed to the banks to encourage investments in green energy projects to make the economy sustainable.

Quotes by Minister Tummala Nageswara Rao

Minister Tummala Nageswara Rao emphasized that loan disbursement and collections must be balanced. He observed that the banking sector, if it fails to meet the loan targets in time, could lose public confidence and social and economic stability.