Hyderabad: Deputy Chief Minister Bhatti Vikramarka Mallu here on Monday said that everyone would witness vibrant Telangana with extensive development and welfare programmes in the coming days.
Speaking at the bankers’ meeting at Praja Bhavan, he said the entire nation is going to look at Telangana in wonder. Telangana government has taken up Musi River Rejuvenation programme as a prestigious project. Large scale constructions are being taken up for the skill and sports universities and pharma companies.
Bhatti said that the bankers should have plans ready with a long term approach with a motto of Telangana Rising. He disclosed that permissions were secured for the construction of Regional Ring Road and tenders will be invited soon.
He asked bankers to speed up release of agricultural loans. If loans are not sanctioned to farmers in time, they will not give any benefit. While the target for 2024 kharif season was Rs.54,480 crore, Rs.44,438 crore were released meeting 81.57 per cent of the target.
As there is still one month left for rabi season loans, they should be speeded up, he said.
Noting that bankers were backbone for the economic development of any State, he complimented bankers for playing a key role in the GDP growth. Bhatti observed that while repayment to banks increased, sanction of loans has decreased and this is not normal. State government credited Rs.21,000 crore to banks in a span of two months under loan waiver scheme for farmers. Nowhere in the history of bankers, such a decision was taken by a State government, he pointed out.
He congratulated bankers for exceeding the target in the sanction of term loans. Focus should be paid for the exhibition of mechanised agricultural tools and bankers should be liberal in sanctioning loans for purchase of agricultural machinery. They also should be liberal in expansion of oil palm cultivation.
Similarly banks should give importance for sanction of loans to micro, small, and medium enterprises. These sectors would generate livelihood opportunities on a large scale, aid in production of goods and increase in GDP.
By giving loans to corporate companies, the economy will be centralised in the hands of few individuals. Thus along with corporate companies, extensive loans are sanctioned to micro, small and medium enterprises.
The State government is giving Rs 20,000 crore interest free loans every year with an objective to encourage women to become entrepreneurs and it is the objective of people’s government to make one crore women crorepatis in the next five years.
The State government has signed a MoU with self help groups for generation of 1,000 MW solar power and the government set a target for generating 4,000 MW solar power generation. There is importance for generation of green energy throughout the country and keeping this in view bankers should provide capital for green power, he said.
In the wake of the State government releasing thousands of crores to farmers under loan waiver, Rythu Bharosa, and also to SC, ST and BC sections under various welfare programmes, bankers should be ready with plans to give loans in the form of subsidies and matching grants to these sections. The previous government did not pay attention to these issues, he added.
