Telangana Govt to Launch ₹6,000 Cr Welfare Schemes, Pushes Banks to Support Development
Hyderabad, February 28, 2025: Telangana Deputy Chief Minister Bhatti Vikramarka emphasized the state government’s commitment to welfare and development, urging bankers to align their plans accordingly. Speaking at a review meeting of the State-Level Bankers’ Committee (SLBC) in Hyderabad on Friday, he stressed the importance of self-employment schemes facilitated through SC, ST, BC, and Minority Welfare Corporations. He criticized the past neglect of these corporations and called on banks to actively support unemployed youth by providing financial assistance.
Major Welfare & Development Initiatives
Deputy CM Bhatti announced that Chief Minister A. Revanth Reddy will launch welfare and self-employment schemes worth ₹6,000 crore in Wanaparthy on March 2, in collaboration with bankers. He highlighted the crucial role of banks in Telangana’s economic growth and noted that the state government is working to attract global investments. He pointed out key advancements:
- ₹4,200 crore allocated for free bus travel for women
- 200 units of free electricity for 50 lakh families
- Farmers’ insurance increased to ₹12,000
- ₹11,500 crore allocated under Rythu Bharosa
- ₹1,500 crore under Rythu Bima
- ₹11,000 crore for free electricity to farmers
- ₹1,800 crore as a grain bonus
- Skill development through ITIs and Young India Skills University
He further stated that agreements for investments worth ₹1.80 lakh crore were signed at the Davos summit, proving Telangana’s appeal to global investors.
Agriculture Sector Gets a Major Boost
Deputy CM Bhatti highlighted that the government has allocated ₹52,000 crore to the agriculture sector. He stated that ₹22,000 crore in farm loan waivers within just three months has set a national record, benefiting both farmers and banks. He urged banks to recognize the government’s efforts in recovering significant amounts through the waiver scheme.
Women Empowerment & Renewable Energy
He called on banks to support Indira Mahila Shakti, a scheme aimed at solar power generation by women. An MoU has been signed with solar companies to produce 1,000 MW of power, and ₹20,000 crore in interest-free loans has been allocated for women’s self-help groups.
Push for Industrial & MSME Growth
Bhatti Vikramarka outlined the government’s plan to develop industrial, pharma, and housing clusters through the Triple R initiative, which is expected to bring large-scale investments to Telangana. He urged bankers to support micro, small, and medium enterprises (MSMEs) that provide employment to lakhs of people.
Minister Tummala Flags Concerns Over Crop Loans
Agriculture Minister Tummala Nageswara Rao expressed concern that despite the ₹22,000 crore farm loan waiver, banks were failing to meet crop loan targets. He pointed out that only ₹58,791 crore in crop loans had been disbursed by December 2024, against a target of ₹90,795 crore. He urged banks to step up their lending to support the agriculture sector.
He also highlighted missed opportunities in the food processing industry, stating that out of 4,000 targeted units under the PM Formalization of Micro Food Processing Scheme, only 729 units had been sanctioned. He encouraged banks to support primary processing units for crops like chilli, turmeric, maize, pulses, and fruits.
The minister further urged banks to increase post-harvest loans, support Farmer Producer Organizations (FPOs), and facilitate loans for custom hiring centers. He criticized banks for failing to support oil palm farmers, noting that while Union Bank of India provided ₹6.78 crore in loans to 363 oil palm farmers, other banks had not participated.
Government Plans for Crop Protection
Minister Tummala announced that the state government is ready to implement a solar fencing scheme for crop protection and called on banks to collaborate in funding this initiative.
The meeting, held ahead of the state budget, aimed to align banking strategies with Telangana’s development goals, ensuring financial institutions play a crucial role in welfare and economic progress.
