Telangana's Deputy Chief Minister Mallu Bhatti Vikramarka has called for a collaborative effort between the banking sector and private investors to realize state's ambitious economic targets . Aiming for a US$1 trillion economy by 2034 and US$3 trillion by 2047, Vikramarka emphasized that government spending alone will not suffice to achieve these goals.
Speaking at the 50th State Level Bankers’ Committee (SLBC) meeting on August 19,2026,held at Mahatma Jyotirao Phule Praja Bhavan in Hyderabad,he outlined necessity of innovative financial mechanisms and a robust banking framework. Deputy Chief Minister stated that the vision document, titled Telangana Rising 2047,requires a transformation in how banks operate to meet these economic aspirations.
Vikramarka urged financial institutions to not only evaluate their performance based on targets but also to assess the real impact of their loans on local industries and job creation. He noted that the true measure of success for banks should be reflected in agricultural productivity,rural income improvements,and the mobilization of private investments .
Highlighting the importance of agricultural sector,he pointed out that farmers should have access to loans precisely when they need them. He criticized the current system where farmers often have to seek out banks for credit, insisting instead that banks should proactively reach out to them. “Farmers should not have to search for banks for loans . It should be the other way round,” he stated.
Vikramarka emphasized the need to formalize financing for allied agricultural sectors such as dairy,fisheries, horticulture,and food processing. He argued that the objective should extend beyond merely providing loans; banks must also analyze the underlying issues that lead to declining incomes for farmers unable to repay their debts. Factors like productivity, market access,post-harvest infrastructure,and working capital must be part of the financial conversation.
As of June 2026, banks had disbursed ₹52,337 crore in agricultural loans,a figure Vikramarka acknowledged. However,he stressed that the timely disbursement of these funds is crucial for fostering growth in the agricultural sector, which serves as the backbone of Telangana's economy. The Deputy Chief Minister's remarks underscore a growing recognition of the need for a more integrated approach between financial institutions and the agricultural community to drive economic progress.
