NABARD funding for rural infra crosses Rs 1L crore mark
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NABARD funding for rural infra crosses Rs 1L crore mark

Last Updated: Tuesday, October 04, 2011, 21:37
 
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NABARD funding for rural infra crosses Rs 1L crore mark
Mumbai: Loans disbursed by the National Bank for Agriculture and Rural Development (NABARD) to state governments crossed the Rs 1,00,000 crore mark and stood at Rs 1,02,844 crore as on September 30.
     
NABARD has crossed a disbursement of Rs 1 lakh crore for the creation of rural infrastructure in the country from out of its Rural Infrastructure Development Fund (RIDF), a statement issued here said.
     
The disbursal includes loans to 28 states and the union territory of Puducherry as well as to the National Rural Roads Development Agency to support the rural roads component of Bharat Nirman, the release said.
     
Some of the states which availed themselves of maximum financial support from NABARD for rural infrastructure are Andhra Pradesh (Rs 9,711 crore), Uttar Pradesh (Rs 7,984 crore), Gujarat (Rs 7,324 crore), Tamil Nadu (Rs 6,523 crore), Madhya Pradesh (Rs 5,464 crore), Maharashtra (Rs 5,493 crore), Rajasthan (Rs 5,406 crore), West Bengal (Rs 4,694 crore) and Karnataka (Rs 4,406 crore).
     
Funds of Rs 1.03 lakh crore were disbursed to states against 4.48 lakh projects worth Rs 1.28 lakh sanctioned to them over 31 broad activities as per the infrastructure requirements in the rural and agricultural sectors.
     
Maximum funds were utilised for irrigation and agriculture (40 percent), followed by rural roads (33 percent), rural bridges (12 percent), rural drinking water supply (9 percent) and social sector (6 percent).
     
The loans are given to state governments for creating infrastructure not only to boost demand for agricultural credit but also to enhance the productivity of credit.
     
RIDF was set up with NABARD by the GoI in 1995-96 with an initial corpus of Rs 2,000 crore. The funds were sourced by the RBI from Scheduled Commercial Banks in proportion to the extent of their shortfall in agriculture lending.
     
For the current year (under RIDF XVII), an amount of Rs 2,000 crore has been earmarked specifically for creation of warehousing infrastructure in different states.

PTI



First Published: Tuesday, October 04, 2011, 21:37


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