Hyderabad: Deputy Chief Minister Bhatti Wickremarka Mallu said here on Monday that everyone will see a vibrant Telangana with comprehensive development and welfare programs in the coming days.
Addressing a meeting of bankers at Praja Bhavan, he said that the entire nation is looking at Telangana with wonder. The Telangana government has taken the Musi river rejuvenation program as a prestigious project. Skills and sports are being built in large quantities for universities and pharmaceutical companies.
Bhatti said bankers should prepare plans with a long-term vision with the motto Telangana Rising. He said that permission has been obtained for the construction of regional ring road and tenders will be called soon.
He asked the bankers to speed up the disbursement of agricultural loans. If the farmers are not given loans on time, they will not get any benefit. 2024 Kharif season target of Rs. 54,480 crore, meeting 81.57 percent of the target, Rs.44,438 crore was released.
He said that there is still one month left for the loan of the Rabi season, so it should be speeded up.
Mentioning that bankers are the backbone of any state’s economic development, he praised the important role of bankers in the growth of gross domestic product. Bhatti said that although bank disbursements have increased, loan approvals have decreased and this is not normal. The state government has deposited Rs 21,000 crore in banks over a period of two months under the loan waiver scheme for farmers. Nowhere in the history of bankers has a state government taken such a decision, he pointed out.
He congratulated the bankers for exceeding the target in sanctioning term loans. Attention should be paid to the exhibition of mechanized agricultural implements and bankers should be liberal in granting loans for the purchase of agricultural machinery. They should also be generous in expanding oil palm cultivation.
Likewise, banks should also give importance to lending to micro, small and medium industries. These sectors will create massive livelihood opportunities, support the production of goods and increase the GDP.
By giving loans to corporate companies, the economy will be concentrated in the hands of a few people. Thus a wide range of loans are sanctioned to micro, small and medium enterprises along with corporate companies.
With the aim of encouraging women to become entrepreneurs, the state government has been giving interest-free loans of Rs 20,000 crore annually, and the government’s goal is to make 10 million women millionaires in the next five years.
The state government has entered into an MoU with self-help groups for the production of 1,000 megawatts of solar energy, while the government has set a target of producing 4,000 megawatts of solar energy. He said that there is an importance of green energy production throughout the country and keeping that in mind, banks should provide capital for green energy.
Given that the state government has released thousands of crores to farmers under loan waivers, Rithu Bharosa, and also to SCs, STs and BCs under various welfare programmes, bankers should be prepared with plans to provide loans in the form of subsidies and matching. Grants to these sections. He says that the previous government did not pay attention to this issue.