HYDERABAD
In a pivotal meeting of the State Level Bankers Committee (SLBC) in Hyderabad, Telangana Deputy Chief Minister M. Bhatti Vikramarka urged banks to expedite the disbursement of loans for Rabi/Yasangi crops, emphasizing that timely financial support is crucial for farmers.
During the gathering on December 23, 2024, he expressed optimism about a thriving Telangana, promising that upcoming government initiatives would garner national attention. He highlighted that tenders for the Regional Ring Road (RRR) construction would be announced soon.
Vikramarka reiterated the government’s commitment to maintaining liquidity in the economy through consistent funding for various programs, which is expected to bolster economic growth. He mentioned that matching grants for Centrally-sponsored schemes would also be prioritized.
Discussing key development projects, the Deputy Chief Minister noted the significance of the Musi Riverfront Development, the establishment of Skill and Sports Universities, and the promotion of the pharmaceutical sector.
Strong Disbursement Rates for Kharif Season Loans
Criticizing the previous administration for neglecting agriculture and welfare, Vikramarka reported that 81.57% of the ₹54,480 crore short-term loans earmarked for the Kharif season had been disbursed, totaling ₹44,438 crore. With a month left for Rabi loans, he called on banks to enhance support for this next crop season.
He urged bankers to prioritize lending to Micro, Small, and Medium Enterprises (MSMEs), recognizing their role in job creation and economic growth, amidst the backdrop of substantial crop loan waivers provided by the government.
In a forward-looking approach, the Deputy Chief Minister outlined plans to empower women self-help groups (SHGs) in developing 1,000 megawatts of solar power generation capacity, with an ambitious goal of reaching 4,000 MW. He encouraged financial institutions to actively support green energy projects.
Minister for Agriculture Tummala Nageswara Rao also emphasized the importance of crafting credit plans that focus on the needs of the farming community and advocated for the organization of farm mechanization exhibitions and support for agricultural drones.
Published – December 23, 2024 05:33 pm IST
