Latest news with #TummalaNageswaraRao
The Hindu
6 days ago
- Business
- The Hindu
WE Hub to be inaugurated in Peddapalli soon to foster entrepreneurial potential among women: IT and Industries Minister D. Sridhar Babu
Minister for IT and Industries D. Sridhar Babu said that 'WE Hub' — the State-led Nodal Organisation for Women Entrepreneurs — centre will be inaugurated in Peddapalli town soon to bolster the State government's efforts to help women realise their full entrepreneurial potential. He was speaking at a meeting held as part of the constituency-level Indira Mahila Shakti celebrations in Peddapalli town on Wednesday. Minister for Agriculture Tummala Nageswara Rao and Minister for Panchayat Raj and Rural Development D. Anasuya (Seethakka), among others participated in the celebrations. Interest-free loans, Loan Bheema and accident insurance claim cheques were disbursed on the occasion. Mr. Sridhar Babu said the Congress government's multiple initiatives, including disbursal of interest-free loans to women self-help groups (SHGs), improved women's access to skill development, vocational training, financial inclusion and entrepreneurship. These initiatives helped women SHGs to start food processing and dairy units, Indira Shakti Canteens, lease out buses to the TGSRTC and take up various other income-generating activities across the State, he noted. Approximately ₹26,000 crore was disbursed as loans to women SHGs through bank linkage in the State since the formation of 'People's government' in December 2023. Plans are afoot to set up solar power plants under the aegis of the women SHGs in Manthani and Kalvasrirampur mandals in the district, he added. Peddapalli MLA Ch Vijaya Ramana Rao, CEO of the Society for Elimination of Rural Poverty (SERP), Telangana, Divya Devarajan, and others were present.
The Hindu
6 days ago
- Business
- The Hindu
Extend necessary credit to farmers: Agriculture Minister
Agriculture Minister Tummala Nageswara Rao has called upon banks to extend necessary credit facilities to the farming community in time and in sufficient quantity. Farmers will repay their loans under any circumstances, he declared, addressing the 44th Foundation Day celebrations of the National Bank for Agriculture and Rural Development (NABARD) organised by the bank's Telangana Regional Office here on Tuesday. Appreciating the role of NABARD in improving the credit flow to the agriculture sector, the Minister also urged the banks to lend to agriculture or any other allied activity. Noting that NABARD had played an excellent role in changing the banking sector, particularly the rural cooperative institutions and the regional rural banks, Mr. Rao sought bank support for provision of infrastructure to agriculture and horticulture universities in Telangana. He also recalled NABARD's assistance for completion of 30 medium irrigation projects that were languishing for lack of budgetary allocation at that time. Chief General Manager, NABARD, Telangana, B. Uday Bhaskar said as a development financial institution NABARD is into financial, development and supervisory roles. The bank supports various irrigation, connectivity and school projects under its Rural Infrastructure Development Fund (RIDF) to the tune of ₹1,100 crore. He said NABARD has refinanced to the extent of ₹9,673 crore as refinance support for self help groups. It is also supporting focus on natural farming through its JIVA programme. The bank is also the National Implementing Agency for the Climate Change Fund and actively involved in policy framing and implementation of climate change-related projects in the country. The CGM said NABARD has supported 23 rural haats with an assistance of ₹72.86 crore and 43 rural marts with ₹72.12 crore, conducted more than 200 skill development programmes benefiting over 4,500 rural youth and 25,000 SHG women in Telangana. NABARD has taken up the task of computerisation of PACS. He said RRB and cooperative banks in Telangana are ahead in computerisation of operations. TGCAB president M. Ravindar Rao thanked NABARD for implementing innovative programmes at the grassroots level. Registrar of Cooperative Societies Surendra Mohan told the gathering that the Telangana government accords top priority to rural development and development of women and farmers. NABARD has stood with the State government in modernising, revitalising and expanding the cooperative landscape. A total of 289 PACS in Telangana have been strengthened through refinance and infrastructure development, including the world's largest grain storage project in Gambhiraopet PACS. NAFSCOB Chairman K Ravinder and State Bank of Hyderabad, Hyderabad Circle, CGM Radhakrishnan spoke. A booklet on Unit Cost that works as a handbook for bankers to decide the credit for various agriculture and allied activities, a report on the Impact Evaluation Study on Farmer Producers Organisations and a booklet on a-IDEA of NAARM were released.
Hans India
6 days ago
- Politics
- Hans India
Minister Sridhar Babu announces plans to set up a V Hub in Peddapalli for women welfare
Minister Sridhar Babu announced a series of initiatives aimed at providing employment opportunities for women during the Indira Shakti Sambarala Sabha in Peddapalli. He was joined by Ministers Tummala Nageswara Rao, Seethakka, and MLA Vijayaramana Rao at the event. Speaking to attendees, Sridhar Babu highlighted that the government has successfully rented nine buses from women's groups in Peddapalli district from the RTC, marking a significant shift from previous practices where rental agreements were predominantly made by men. He also noted that women's groups have been entrusted with the task of sewing uniforms for students and have been provided with opportunities to establish solar power plants and purchase paddy from local farmers. 'This government is committed to making one crore women millionaires,' declared Babu, also announcing plans to set up a V Hub in Peddapalli. He emphasised the government's dedication to protecting the state's water rights, criticising the former Chief Minister KCR for focusing solely on water provision in the Andhra region. 'We will not compromise on the state's water rights under any circumstances,' he asserted.
Hans India
7 days ago
- Business
- Hans India
Minister urges banks to boost lending for farm sector
Hyderabad: Telangana's Agriculture Minister Tummala Nageswara Rao has assured that farmers will repay their loans under any circumstances, urging banks to extend necessary credit facilities to the farming community. Participating in NABARD's 44th Foundation Day celebrations, the Minister requested banks to lend where they foresee development, whether in agriculture or any allied activity. He also appealed for the provision of infrastructure to Agriculture and Horticulture Universities in Telangana. He recalled NABARD's crucial assistance in completing 30 medium irrigation projects that had been languishing due to a lack of budgetary allocation at the time. B Uday Bhaskar, Chief General Manager, NABARD, stated that this year's Foundation Day is particularly special as NABARD is celebrating a decade of transforming rural lives in Telangana. He noted that the institution has refinanced to the extent of Rs 9,673 Crore as refinance support for Self-Help Groups (SHGs). NABARD is also focusing on natural farming through its JIVA programme. M Ravindar Rao, President, Telangana State Cooperative Apex Bank (TGCAB), mentioned that many programmes are being undertaken in the Cooperative Sector in the State with NABARD's assistance. He specifically highlighted assistance of Rs 200 Crore for strengthening Primary Agricultural Credit Societies (PACS), enabling them to undertake construction of godowns, petrol pumps, and other facilities. Surendra Mohan, IAS, Registrar of Cooperative Societies, affirmed that the state government gives top priority to rural development and the advancement of women and farmers.
Hans India
7 days ago
- Business
- Hans India
Telangana has set national precedent by transforming PACS into FPOs: Tummala
Hyderabad: In a groundbreaking move, the Telangana government has converted 311 Primary Agricultural Cooperative Societies (PACS) into Farmer Producer Organizations (FPOs), marking a new chapter in the state's agricultural and cooperative development. Agriculture Minister Tummala Nageswara Rao announced the initiative at a state-level conference held at Professor Jayashankar Telangana Agricultural University (PJTAU), organized by the National Cooperative Development Corporation (NCDC) and Telangana Cooperative Union. While addressing representatives from across the state, Minister Tummala emphasized that cooperative credit societies must adapt to the evolving needs of the agricultural sector. Instead of restricting themselves to conventional lending practices, these societies should transform into one-stop centers, providing a wide range of services—from seed distribution and soil analysis to marketing and processing support—to promote farmer prosperity. Tummala revealed that the transition of PACS into FPOs is part of a larger strategy aligned with the Government of India's plan to establish 10,000 FPOs nationwide. With support from the NCDC, Telangana's Cooperative Union has been designated a Cluster-Based Business Organization (CBBO), enabling it to spearhead this transformation. Each of the 311 newly formed FPOs will receive an equity grant of Rs 15 lakh and a management cost support of Rs 18 lakh, totaling Rs 33 lakh per unit. In aggregate, Rs 167.93 crore have been sanctioned, with the first tranche of Rs 9.85 crore disbursed on Tuesday. Additionally, every FPO will be eligible for a loan guarantee of up to Rs 2 crore under the Central Government's Credit Guarantee Scheme, strengthening financial resilience and operational capacity. Highlighting success stories such as the Mulkanur Cooperative Credit Union, the Minister said ethical and transparent governance can turn cooperatives into models of rural development. He commended the cooperative achievements in Medchal and other districts and called on societies in Rangareddy and neighboring areas to promote vegetable and fruit cultivation, reduce chemical usage, and support organic farming. Tummala stressed the importance of adopting holistic business models. He urged societies to offer services like seed distribution, storage, equipment rental, marketing, dairy, poultry, and soil testing. He also recommended inviting experts from various sectors to society meetings for guidance and innovation. The event witnessed participation from prominent officials, including NCDC Regional Director Shardul, TG Cooperative Union Chairman Mohana Reddy, TGCAB Chairman Ravinder Rao, DCCB chairpersons, cooperative officers, and 311 society leaders—collectively committing to a new era of agricultural empowerment in Telangana.
