Rs 6k Cr Will Be Spent on Self-Employment Schemes: Bhatti
Bhatti announced that Chief Minister A. Revanth Reddy, along with bankers, will launch self-employment schemes worth Rs 6,000 crore in Wanaparthy on March 2. The distribution of financial aid and assets under these schemes will be organised as a festival.
Hyderabad: Deputy Chief Minister Mallu Bhatti Vikramarka has emphasised that the state government will prioritise self-employment schemes through SC, ST, BC and minority corporations. Speaking at the review meeting with bankers on Friday, he criticised the previous decade-long administration for neglecting welfare corporations.
Bhatti stated that the government would provide subsidies and margin money and urged bankers to support unemployed youth in securing livelihoods.
Bhatti announced that Chief Minister A. Revanth Reddy, along with bankers, will launch self-employment schemes worth Rs 6,000 crore in Wanaparthy on March 2. The distribution of financial aid and assets under these schemes will be organised as a festival, he added.
He highlighted that self-employment initiatives would boost the state’s GDP and underscored the crucial role of bankers in Telangana’s economic growth. The government has created a favourable investment environment through skilled human resources, the advancement of ITIs, uninterrupted quality power supply and effective law enforcement, he explained.
Bhatti noted that Telangana attracted investments worth Rs 1.8 lakh crore at Davos and reiterated that the administration prioritised agriculture by allocating Rs 52,000 crore to the sector.
In three months, the government credited Rs 22,000 crore into farmers’ bank accounts under the Rs 2 lakh loan waiver scheme — a national record. He pointed out that this benefited both farmers and banks by enabling loan recoveries in one go.
Besides loan waivers, the government released Rs 11,500 crore under Rythu Bharosa, Rs 1,500 crore under Rythu Bhima, Rs 11,000 crore in subsidies for free power to farmers and Rs 1,800 crore as a bonus for fine-variety paddy. Farmers are also receiving benefits under various state and centrally sponsored schemes.
Bhatti stressed that rural development held the key to Telangana’s progress. Under Indira Mahila Shakti, the state had initiated a scheme encouraging women to establish solar power units. An MoU has been signed with solar companies to generate 1,000 MW of solar power, and he urged bankers to support women entrepreneurs.
Highlighting the government’s focus on Hyderabad, he said Revanth Reddy considered the Musi River a “jewel” of the city. Plans are in place for its rejuvenation to safeguard the health of residents along its banks. He urged bankers to extend financial support to those displaced under the Musi river development scheme.
Bhatti revealed that interest-free loans would be provided to displaced women. Additionally, Rs 20,000 crore has been allocated to women’s self-help groups. The construction of the Regional Ring Road (RRR) is expected to drive large-scale industrial, pharmaceutical, and housing developments, attracting significant investments. Once RRR is completed, he said, the state will witness substantial economic growth. He called on bankers to support the MSME sector, which employs lakhs of people.
He reiterated that the government’s vision extends beyond select regions, aiming for inclusive development across all sections of society. The bankers' meeting was convened ahead of the Budget to align financial planning with the government’s priorities.
After a decade of neglect, the government is giving equal priority to welfare and development, and bankers should formulate their plans accordingly, he added.
