The Deputy Chief Minister also clarified that under the state’s Annual Credit Plan of over Rs. 8 lakh crore, banks are only required to allocate 0.2% towards this scheme. He mentioned how the government is supporting students with fee reimbursement schemes, helping produce a skilled and educated workforce

Deputy Chief Minister Bhatti Vikramarka has emphasized that the State government has set a goal to distribute sanction letters to 5 lakh unemployed youth under the ‘Rajiv Yuva Vikasam’ self-employment scheme on June 2, Telangana Formation Day.

He urged bankers to extend their full cooperation to achieve this target. Bhatti Vikramarka addressed the State-Level Bankers’ Committee (SLBC) meeting here on Thursday. He highlighted that educated and skilled human resources going unused is a net loss to society and stressed the importance of channeling their intellect into productive sectors, thereby boosting the state’s GDP.

The Deputy Chief Minister stated that no other state in the country has ever launched a scheme like this, which offers financial assistance of Rs 9,000 crore to 5 lakh youth. Of this, Rs 6,250 crore will be provided as subsidy by the government.

He noted a significant change in the structure, where previously loans were disbursed in a 70:30 (loan: subsidy) ratio, it is now reversed, with a larger subsidy portion. The Deputy Chief Minister also clarified that under the state’s Annual Credit Plan of over Rs. 8 lakh crore, banks are only required to allocate 0.2% towards this scheme. He mentioned how the government is supporting students with fee reimbursement schemes, helping produce a skilled and educated workforce.

Bhatti Vikramarka requested that the SLBC appoint a special nodal officer to ensure coordination across all banks, with proper monitoring at the field level.

He shared that the government is establishing a Skill University and Advanced Technology Centers in every Assembly constituency. He reiterated the government’s commitment to ensuring fee reimbursement from school to university level, aiming to provide a well-educated human capital pool.

The Deputy Chief Minister affirmed that agriculture remains a top priority. He emphasized the importance of horticultural crops and the government’s initiative to promote oil palm cultivation, describing it as a ‘dream project.’ He urged banks to be liberal in sanctioning loans for oil palm farming.