Telangana is India’s top supplier of cotton and the second biggest supplier of paddy. As a result, the state’s cotton purchase is nearly double that of Maharashtra, which stands second. In addition to the harvest acquired by individual businesses, the cotton crop was sold to the Cotton Corporation of India. Similarly, Telangana ranks second in paddy procurement. Punjab takes first place.
All crops are acquired from farmers at minimum support price as part of the Centre’s price support scheme, which is intended to eliminate intermediaries and help farmers. The procurement agency makes all payments to farmers for their produce straight into their bank accounts.
Telangana is in the process of formulating a textile and apparel policy that contemplates waiver of personal loans of handloom weavers. Fresh loans are proposed to be given at three per cent interest. Subsidies will be given for capital investment and purchase of equipment by entrepreneurs. Tax incentives and power subsidies are being examined. Some industrial parks will also be established in Telangana. Housing for workers and staff is proposed within the textile parks. The state has generated about Rs 73,000 crores in investments and created 2.56 lakh jobs. Telangana has achieved a year on year growth of 10.1 per cent in gross state domestic product.