Telangana Government prioritises self-employment and rural development: Deputy CM Bhatti Vikramarka

Deputy CM Bhatti Vikramarka Mallu emphasised the Telangana government’s focus on self-employment schemes, rural development, and financial support for various sectors while urging bankers to collaborate in implementing welfare programs.

HYDERABAD: Telangana Deputy Chief Minister Bhatti Vikramarka Mallu has stated that the state government will give top priority to implementing self-employment schemes through SC, ST, BC, and Minority Corporations.

Speaking at a review meeting with State Level Bankers on Friday, he criticised the previous administration for neglecting welfare corporations over the past decade. He urged bankers to actively support the government’s efforts by providing financial assistance to unemployed youth.

Deputy CM Vikramarka announced that Chief Minister Revanth Reddy, along with banking representatives, will launch self-employment schemes worth approximately Rs 6,000 crore in Wanaparthy on March 2. The event will serve as a platform for distributing financial aid and assets under self-employment programs, marking the day as a “festival of welfare and development.” He asserted that these initiatives would significantly contribute to the state’s GDP growth.

Telangana’s Economic Growth and Global Investments

Highlighting the government’s broader economic vision, Deputy CM Bhatti Vikramarka emphasised that bankers play a crucial role in Telangana’s growth. The state has been working to attract global investments by fostering a skilled workforce through Skill University and ITI advancements, ensuring continuous quality power supply, and maintaining law and order.

He noted that Telangana secured Rs 1.8 lakh crore in investments at the Davos World Economic Forum, attributing this achievement to the state’s strategic policies.

Focus on Agriculture and Farmer Welfare

The government has prioritized the agriculture sector, allocating ₹52,000 crore for its development. In just three months, ₹22,000 crore was transferred to farmers’ bank accounts as part of the loan waiver program, benefiting both farmers and banks. This large-scale loan settlement helped banks recover outstanding loans, setting a national precedent.

Additionally, the government has released:

• Rs 11,500 crore under Rythu Bharosa
• Rs 1,500 crore under Rythu Bima
• Rs 11,000 crore in subsidies for free power supply to farmers
• Rs 1,800 crore as a bonus for fine variety paddy

Deputy CM Vikramarka emphasised that farmers continue to benefit from various state and central government schemes, ensuring long-term agricultural growth. The state government is committed to rural development and women empowerment. Under the Indira Mahila Shakti scheme, women are being encouraged to set up solar power generation units. The government has signed an MoU with solar power companies to generate 1,000 MW of solar power, urging banks to support women entrepreneurs in this sector.

He also announced that Rs 20,000 crore has been allocated to support women’s self-help groups (SHGs), along with interest-free loans for women displaced by the Musi River Development Project.

The Musi River is being considered a “jewel of Hyderabad”, with plans for rejuvenation to improve environmental and public health conditions. Bankers have been requested to provide financial assistance to those affected by the development projects along the river. Additionally, the Regional Ring Road (RRR) will spur industrial, pharma, and housing development, attracting large-scale investments to the state. Once completed, it is expected to boost Telangana’s economy and global appeal.

Government’s Inclusive Development Agenda

Deputy CM Vikramarka reiterated that the Telangana government is committed to balanced development across all regions and communities, not just select areas. He sought the cooperation of bankers in extending financial aid to the MSME sector, which plays a crucial role in employment generation.

The meeting was organised ahead of the upcoming state budget, ensuring that banking policies align with government priorities. Deputy CM Vikramarka assured that after a decade of neglect, Telangana is now focusing on both welfare and development, urging bankers to tailor their financial plans accordingly.