The Agriculture Minister of Telangana State, S Niranjan Reddy, recently attended a state-level bankers’ meeting where he urged banks to extend loans to farmers for the cultivation of Oil Palm, a crop that is being promoted by the government. The meeting was also attended by other officials including the Special Chief Secretary of the Finance Department, Ramakrishna Rao, the Secretary of the Agriculture Department, Raghunandan Rao, and the President of SLBC, Amit Jingran.
During the meeting, Niranjan Reddy highlighted Telangana’s leading position in promoting agriculture and its allied industries in the country. He stated that in just nine years, Telangana has strengthened the agricultural sector and made farming profitable. The state has also diversified its crops, which has contributed to its first position in the average of agricultural products in the country.
Niranjan Reddy emphasized that banks should show compassion towards farmers who have taken up Oil Palm cultivation in the state by providing them with loans. Additionally, banks should extend loans for agro-based industries and conduct studies on employment opportunities in the sector. The government is taking measures to set up agriculture-based industries in each district to further promote the industry.
Overall, the Agriculture Minister’s call for banks to support farmers and agro-based industries highlights the government’s commitment to promoting sustainable agriculture and boosting economic growth in Telangana State.