Hyderabad: Telangana today stands number one in the country in per capita income. With sustained growth in agriculture, industry, and services, Telangana has emerged as number one state in India, surpassing Karnataka and Haryana to set this record, said Deputy Chief Minister Mallu Bhatti Vikramarka.
Achieving 33.64 per cent of the Annual Credit Plan (ACP) targets in just the first quarter is commendable. Banks must extend credit generously to Indiramma housing beneficiaries, self-employment schemes, and agriculture and allied sectors.
According to Bhatti Vikramarka, the State government considers agriculture as the backbone of the economy. On behalf of farmers, the government has already deposited Rs.30,000 crore into banks towards crop loan waiver and Rythu Bharosa. This is a record in the history of banking recovery.
“I appeal to bankers—provide timely loans to farmers. Do not pressurize them by insisting on mortgages or fixed deposits. Show compassion and think with a human approach,” he said at the State-level Bankers Meeting.
Telangana has now achieved the highest per capita income in the country (₹3.87 lakhs per person), overtaking Karnataka and Haryana, and for the first time in five years has regained this top spot. With robust growth in agriculture, industries, and services, Telangana has become one of the most dynamic economies in India and a model for other states.
“We must all draw inspiration from this progress and rededicate ourselves to the comprehensive welfare of our people. Bankers have a crucial role to play in Telangana’s rising story,” he explained.
In the first quarter of FY 2025–26, banks have performed well in the priority sector lending segment. Achieving 33.64 per cent of ACP targets in the very first quarter deserves appreciation.
The state consistently maintains a high CD ratio, which is a matter of pride—standing at 126.50 per cent this quarter. Telangana remains one of the fastest-growing states, with industrial, agricultural, and service sector growth, alongside multiple development initiatives by the government.
The government has implemented several schemes to strengthen agriculture as the backbone of the economy—crop loan waiver up to ₹2 lakhs for eligible farmers, Rythu Bharosa, bonus on select crops, medium and major irrigation projects, and 24-hour free power supply to agriculture. These measures have enhanced the share of agriculture and allied sectors in the economy.
“We fulfilled our promise by implementing the CLW-2024 scheme, writing off farm loans for eligible farmers within a short time—an unprecedented move. A large number of Kisan Credit Card accounts were revived, and funds released to farmers. With higher crop yields, especially paddy, Telangana has become one of the leading suppliers to the FCI,” Bhatti Vikramarka said.
To promote oil palm cultivation, the government is extending full support. Under the Indira Mahila Shakti Scheme, the SHG women are being empowered. Banks must extend more credit support for income-generating activities.
Due to business-friendly and innovative policies, Telangana has attracted increased investments, leading to industrial growth and more employment opportunities.
Recently, a roadshow at HITEX showcased the HAM project under which 13,000 km of internal roads will be built across the state. This will strengthen infrastructure and elevate Telangana to a new level. We request banks to participate actively in this initiative.
The MSME sector is one of the largest job providers in the state. In the first quarter of FY 2025–26, banks achieved 33.42 per cent of ACP targets in this sector—a commendable performance. With immense potential in MSMEs, banks must focus more on expanding CGTMSE coverage and working capital loans.
The government has already deposited Rs.30,000 crore on behalf of farmers into banks for crop loan waiver and Rythu Bharosa—an unprecedented record in banking recovery. In line with government policy, bankers must extend large-scale, timely loans to farmers.
For the upliftment of weaker sections of society, banks must give greater priority. In the first year itself, the government is constructing 4.5 lakh Indiramma houses, with Rs.5 lakh invested per house. Banks must support beneficiaries with loans. Similarly, young aspirants of self-employment schemes must be encouraged with a positive approach.
Bankers must deal with farm loan disbursals with compassion. It is not right to force farmers to mortgage properties or make deposits as a condition for loans. This is essential for inclusive development of society.
In terms of financial inclusion, banks continue to serve those in need—opening PMJDY accounts and ensuring all beneficiaries are covered under social security and insurance schemes. This work must continue until full satisfaction is achieved.
The banking sector deserves appreciation for its role in financial empowerment and economic development. Stronger partnerships between all stakeholders are necessary. Together, let us advance towards a comprehensive, technology-driven, sustainable banking ecosystem in Telangana.
Finally, I extend heartfelt appreciation to the Convenor Bank—State Bank of India—for successfully organizing this quarterly meeting.