HYDERABAD: Deputy Chief Minister Mallu Bhatti Vikramarka on Friday stated that the state government is giving top priority to welfare schemes, economic self-reliance, construction of Future City, women empowerment and Musi river rejuvenation.
Participating in the 49th State Level Bankers’ Committee meeting at Praja Bhavan, he said the people’s government is firmly committed to transforming Telangana into a $3 trillion economy by 2047.
He said it is a remarkable achievement that total bank deposits in the state have reached nearly Rs 9.43 lakh crore while advances touched Rs 12.34 lakh crore, adding that Telangana’s Credit-Deposit ratio of 130.78% is exceptional.
The deputy CM expressed delight at banks disbursing Rs 1,68,401 crore agricultural loans exceeding the target of Rs 1,65,297 crore. Describing agriculture as the backbone of Telangana’s economy, he appreciated banks for supporting farmers, fishermen and allied sectors through schemes like Kisan Credit Cards.
He also appealed to banks to adopt a more positive approach towards educational loans, stating that student loans are investments in the future of the youth and that the people’s government has proved welfare and development can progress together like twin engines.
He noted that the entire world is now focusing on renewable energy and said Telangana is making steady progress in the solar power sector. He urged banks to actively support solar projects, rooftop solar panel installations, and other environmentally friendly initiatives through financial assistance. He also stressed the need to bring more people under social security and insurance schemes.
Vikramarka said though the government’s goal of making the state a $3 trillion economy by 2047 is a big dream, he said it is certainly achievable considering its current growth rate. He claimed that Telangana is growing at 10.7 per cent while the national average growth rate stands at 8.2%. Similarly, while the national per capita income is Rs 2.1 lakh, Telangana’s per capita income has reached Rs 4.18 lakh, making it one of the leading states in the country.
He noted that Hyderabad offers immense opportunities for women in business, small industries, and medium enterprises, and called for special focus on young women entrepreneurs from slum areas.
The deputy CM also revealed that several industrial hubs and clusters will soon be developed in the state. These include sectors such as pharma, Fab City, steel, leather, and textiles. The aim, he said, is to attract both national and international investments into Telangana.