Hyderabad: Deputy Chief Minister Bhatti Vikramarka said the Telangana government gave top priority to welfare schemes, economic self-reliance, Future City, women empowerment and Musi Rejuvenation.
He said Telangana welfare development had become the government’s core growth model. Therefore, welfare and development were moving together as “twin engines” of the state’s progress.
Bhatti addressed the 49th State-level Bankers’ Meeting at Mahatma Jyotirao Phule Praja Bhavan in Hyderabad on Friday.
Agriculture Minister Tummala Nageswara Rao, Special Chief Secretary Dana Kishore, Principal Secretary Sandeep Kumar Sultania, Finance and Planning Secretary Gaurav Uppal, RBI Regional Director Chinmaya Mohan and SBI CGM Nilesh Dwivedi attended the meeting.
Telangana welfare development target for 2047
Bhatti said the people’s government worked with determination to make Telangana a $3 trillion economy by 2047.
He said the target was ambitious. However, he said Telangana could achieve it because of its present growth rate.
He noted that Telangana grew at 10.7 per cent, while the national average stood at 8.2 per cent. Similarly, Telangana’s per capita income reached ₹4.18 lakh, compared with the national figure of ₹2.1 lakh.
Bhatti said these numbers placed Telangana among the leading states in the country. Moreover, he said they showed the strength of the state economy.
Telangana welfare development and banking support
Bhatti said total bank deposits in Telangana reached nearly ₹9.43 lakh crore. He added that advances touched ₹12.34 lakh crore.
He described Telangana’s credit-deposit ratio of 130.78 per cent as exceptional.
The Deputy Chief Minister also expressed satisfaction over agricultural lending. Against a target of ₹1,65,297 crore, banks disbursed ₹1,68,401 crore as agricultural loans.
He said banks achieved 101.88 per cent of the farm loan target. Therefore, he appreciated bankers for supporting farmers and allied sectors.
Bhatti said agriculture remained the backbone of Telangana’s economy. He also said banks supported farmers, dairy farmers, fishermen and allied workers through schemes including Kisan Credit Cards.
Telangana welfare development needs MSME loans
Bhatti said Telangana ranked among the fastest-growing industrial states in India. He urged banks to increase lending to micro, small and medium enterprises.
He also asked banks to support women, Dalit and tribal entrepreneurs with a more positive approach.
The Deputy Chief Minister appealed to banks to treat educational loans as investments in youth. He said student loans helped build the future workforce of the state.
Bhatti said the government had proved that welfare and development could move together. He added that Telangana welfare development would remain central to the state’s economic roadmap.