logo
Telangana to release Rs 9,000 crore for farmers' scheme despite financial crisis

Telangana to release Rs 9,000 crore for farmers' scheme despite financial crisis

India Today17-06-2025
The Telangana government is preparing to release Rs 9,000 crore under its Rythu Bharosa scheme within the next nine days, Chief Minister A Revanth Reddy announced. Speaking at the Rythu Nestham programme held at Professor Jayashankar Telangana State Agricultural University on Monday, the Chief Minister reaffirmed his government's commitment to farmer welfare despite the state's ongoing financial crisis.'The government is ready to release Rs 9,000 crore Rythu Bharosa scheme benefit in the farmers' accounts in nine days. The state will flourish only when the farmer is happy,' the Chief Minister said, indicating that preparations were underway to ensure the funds reach beneficiaries without delay.advertisementThe move comes at a time when Telangana is grappling with serious fiscal challenges, which, according to the Chief Minister, stem from the mismanagement of the previous administration. 'The state cannot recover from the financial crisis created by the previous government even in the next 100 years,' he said, accusing the former regime of leaving behind an Rs 8.2 lakh crore debt burden.
Revanth Reddy underscored the importance of agriculture to both the economy and governance. 'Governments cannot be formed without the support and blessings of the farmers. The role of farmers is crucial to win as MLA, MP and also become Chief Minister of a state,' he said.Despite inherited financial distress, the Chief Minister said his administration had already spent Rs 1 lakh crore on farmer welfare over the past 18 months. He framed this spending not as a burden, but as a necessary corrective measure. 'Against all odds, we are moving forward by taking corrective measures one by one,' he said.advertisementThe Rythu Bharosa scheme is central to these efforts. Designed to offer financial relief to both land-owning and landless farmers, the scheme provides Rs 12,000 per acre annually, split into two payments of Rs 6,000 per acre per crop season. It replaces the earlier Rythu Bandhu scheme with an expanded scope — including tenant farmers and agricultural labourers — and excludes land used for industrial or real estate purposes.The program aims to reduce farmers' dependency on private moneylenders, enabling them to invest in better seeds, fertilizers, and sustainable practices. By extending support to vulnerable sections and focusing on cultivated lands, the government aims to boost rural incomes, ensure food security, and correct the shortcomings of past welfare initiatives.Revanth Reddy also highlighted agricultural successes under his administration. 'Telangana has become the number one state in paddy production in the country. Today, I am seeing happiness in the eyes of every farmer. What more do I want as the Chief Minister of Telangana?' he said.He attributed this turnaround to the government's active encouragement of fine variety paddy cultivation, backed by a 500 bonus and procurement assurance. 'The People's Government instilled confidence among the farmers by purchasing every single grain,' he said.The Chief Minister concluded by asserting the government's long-term commitment to farmer welfare. 'My government will remain for 10 years and we are undeterred by the dharnas held by the opposition parties,' he said, while urging farmers to adopt new agricultural techniques with state support.Trending Reel
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Digital infrastructure transforms India's tax administration, refunds surge 474%
Digital infrastructure transforms India's tax administration, refunds surge 474%

India Gazette

time34 minutes ago

  • India Gazette

Digital infrastructure transforms India's tax administration, refunds surge 474%

By Shailesh Yadav New Delhi [India], July 13 (ANI): India's tax administration has undergone a dramatic transformation over the past decade, with taxpayer refunds growing at nearly double the pace of tax collections, Ministry of Finance sources told ANI. The numbers paint a striking picture of administrative efficiency gains. Between 2013-14 and 2024-25, refunds issued to taxpayers have skyrocketed by 474 per cent, rising from Rs 83,008 crores to Rs 4,76,743 crores. This growth significantly outpaces the 274 per cent increase in gross direct tax collections during the same period, which rose from Rs 7,21,604 crores to Rs 27,02,974 crores. Perhaps most impressive is the speed of refund processing. The average time to issue tax refunds has plummeted from 93 days in 2013 to just 17 days in 2024 - an 81 per cent reduction that reflects the success of digital modernization efforts. The transformation is largely attributed to comprehensive digitization of tax processes. The introduction of end-to-end online filing systems, faceless assessments, and automated refund processing has eliminated traditional bottlenecks that previously delayed taxpayer services. 'The adoption of digital infrastructure including pre-filled returns, real-time TDS adjustments, and online grievance redress mechanisms has fundamentally changed how we serve taxpayers,' a senior CBDT official familiar with the modernisation program told ANI. The taxpayer base has also expanded significantly, with income tax returns filed growing from 3.8 crores in 2013 to 8.89 crores in 2024 - a 133 per cent increase that demonstrates growing formalisation of India's economy. The proportion of refunds relative to gross tax collections has risen from 11.5 per cent in 2013-14 to 17.6 per cent in 2024-25. 'Growing refunds reflect increased voluntary compliance and the deepening of advance tax payment mechanisms,' said another senior Income Tax offcial. 'As more taxpayers participate in formal tax processes and TDS coverage expands, excess remittances naturally become more common,' the official added. The surge in refunds and their faster processing carry significant economic implications. Quicker refund turnaround time improves cash flow for businesses and individuals, while the growth in refund volumes signals expanding participation in India's formal economy. The data suggests that India's tax ecosystem has achieved what officials describe as 'systemic maturity' - a state where efficiency, transparency, and taxpayer facilitation have become embedded principles rather than aspirational goals. (ANI)

Waste to electricity plant may come up at dump yard
Waste to electricity plant may come up at dump yard

Time of India

timean hour ago

  • Time of India

Waste to electricity plant may come up at dump yard

Trichy: The govt has initiated preliminary work to expand waste-to-electricity plants to major cities in the state including Coimbatore, Madurai, and Trichy, said municipal administration minister K N Nehru on Sunday. In Trichy, it will be considered at Ariyamangalam dump yard. He said the govt is exploring an option to retrieve plastic waste from dump yards and utilize it in road construction. "Waste mounds in dump yards in major cities that have accumulated for over five decades are being cleared using a biomining method. The waste-to-electricity plant introduced in Chennai will be expanded to other cities as a long-term solution in another 3-4 years," Nehru told reporters on the sidelines of Oraniyil Tamil Nadu campaign held in E Pudur to add new members to DMK. He said no new infrastructure projects are viable in the 47-acre Ariyamangalam dump yard for the next 15 years except for public parks since the subsurface has accumulated plastic waste for decades. Responding to a question about his constituency, Trichy West, cornering a lion's share of new projects, Nehru said all 65 wards in the city are treated equally. On opposition leader Edappadi K Palaniswami's remarks about Rs 1,000 monthly assistance provided to women in the state, Nehru said, "We (DMK) introduced the scheme to provide financial assistance to women heads of the family. Who is he (Palaniswami) to say that people will not get the assistance? We will conduct more camps to continue and expand the coverage. "

Startup funding stands at $95 million this week
Startup funding stands at $95 million this week

Hans India

timean hour ago

  • Hans India

Startup funding stands at $95 million this week

New Delhi: Startup funding in India stood at around $95 million this week, with 17 startups securing investments across various stages. Out of these, five were growth-stage deals and 10 were early-stage, while two startups chose not to disclose their funding details. Among cities, Bengaluru-based startups led with six deals, followed by Delhi-NCR with four. Mumbai, Hyderabad and other cities also witnessed activity. Fintech emerged as the most funded sector this week with four deals. Deeptech and SaaS startups followed with two deals each, while proptech, foodtech, and OTT startups also raised funds. Seed funding rounds dominated this week, with seven deals. Series A and pre-Series A rounds saw two deals each, while pre-IPO, debt, and Series B rounds also featured. The average startup funding over the past eight weeks stands at around $205.24 million, with roughly 21 deals per week. Growth and late-stage startups collectively raised $72.9 million. Leading the pack was IPO-bound proptech firm Smartworks, which raised $20 million in a pre-IPO round. Education-focused NBFC Varthana secured Rs 159 crore (approximately $18.5 million) through debt financing. Clean-label food brand Kehtika raised $18 million in a Series B round led by Narotam Sekhsaria Family Office and Anicut Capital. Fintech player Credit Wise Capital and Avis Hospital were also part of the funding list this week. In the early-stage category, 10 startups raised a total of $22.11 million. Tech-enabled NBFC InPrime Finserv led this segment by raising $6 million in its Series A round from Pravega Ventures. Other notable startups that raised funds include NRI-focused fintech platform Belong, OTT microdrama app Chai Bisket, home services startup Clean Fanatics, and deeptech firm Green Aero. Meanwhile, cybersecurity startup LdotR and SaaS platform Monetize360 also raised capital but did not disclose the amounts. In strategic developments, workspace solution provider Incuspaze acquired VSKOUT, a B2B SaaS platform offering curated data analytics for commercial real estate. Separately, Infinity Fincorp Solution, a non-bank lender, signed a share purchase and subscription agreement with global investment firm Partners Group, which will acquire a significant majority stake in the company.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store