Bhatti seeks banks’ cooperation for USD one trillion economy

HYDERABAD: Deputy Chief Minister Mallu Bhatti Vikramarka on Wednesday pressed the banking and financial institutions to be key partners in Telangana's expansion, and support in transforming the state into a $1 trillion economy by 2034 and a $3 trillion economy by 2047.

Speaking during the 50th State Level Bankers' Committee (SLBC) session held at Praja Bhavan, he stated: "This goal cannot be achieved through administration expenditure alone. It requires large-scale private investment, solid financial institutions, deeper financial markets and innovative financing mechanisms."

Vikramarka, who additionally folds the finance portfolio, further stated: "Banks should not merely review how far they progressed in achieving the assigned targets, but should periodically assess what development has resulted from the loans extended, how many industries have been established and how many jobs have been created."

Calling for dairy, fisheries, horticulture, oil palm, food processing and other allied sectors to be brought into the formal credit system, he remarked that the objective should not be restricted to providing loans to farmers, but to convert that credit into higher and sustainable agricultural income.

He lauded the banks for extending Rs 52, 337 crore in agricultural loans as of June 2026.

For now, bhatti seeks banks' cooperation for USD one trillion economy remains the part of the story worth watching, and further updates are likely as more details are confirmed.