Telangana Stands Number One in Per Capita Income: Bhatti
Banks must extend credit generously to Indiramma housing beneficiaries, self-employment schemes, and agriculture and allied sectors: Bhatti
Hyderabad: Deputy Chief Minister and finance minister Mallu Bhatti Vikramarka on Monday said that Telangana has emerged as the top state in the country in terms of per capita income, overtaking Karnataka and Haryana, and has regained the No.1 position after five years.
Speaking at the State-Level Bankers Committee (SLBC) meeting held here on Monday, Bhatti said the state has recorded a per capita income of `3.87 lakh, driven by consistent growth in agriculture, industry and services.
Bhatti said achieving 33.64 per cent of Annual Credit Plan (ACP) targets in the first quarter of the current financial year was commendable and urged bankers to extend loans generously to Indiramma housing beneficiaries, self-employment schemes and agriculture. He stressed that agriculture remains the backbone of Telangana’s economy, pointing out that the government had deposited Rs 30,000 crore into banks towards crop loan waiver and Rythu Bharosa. This, he said, was a record in the history of banking recovery.
He appealed to bankers to show compassion while disbursing farm loans and not insist on mortgages or fixed deposits, as timely credit is crucial for farmers’ survival. Highlighting government measures, he said crop loans up to `2 lakh were waived in 2024, reviving lakhs of Kisan Credit Card accounts. With higher crop yields, especially paddy, Telangana has become a leading supplier to the Food Corporation of India. Efforts were also being made to promote oil palm cultivation and provide full support to farmers, he said.
The Deputy Chief Minister noted that the government was constructing 4.5 lakh Indiramma houses in its first year, with `5 lakh invested per house, and urged banks to provide loan support to beneficiaries. He also called for greater credit flow to women under the Indira Mahila Shakti Scheme, self-employment aspirants, and MSMEs, which remain one of the largest job providers in the state. In the first quarter, banks achieved 33.42 per cent of ACP targets in the MSME sector, a performance he described as encouraging.
Bhatti said Telangana’s business-friendly and innovative policies have attracted investments, boosting industrial growth and employment. He referred to the recent roadshow at Hitex, showcasing the HAM project for construction of 13,000 km of internal roads across the state, and sought active participation of banks in such initiatives.
He commended banks for their role in financial inclusion through Jan Dhan accounts and social security schemes and called for stronger partnerships to build a technology-driven, sustainable banking ecosystem in Telangana.
