Rajasthan
NABARD Sanctions Rs 1,974 Crore to Rajasthan
- 12 Jan 2024
- 2 min read
Why in News?
Under the Rural Infrastructure Development Fund (RIDF) for 2023-24, National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs 1,974.07 crore to the Rajasthan government.
Key Points
- According to NABARD Rajasthan Chief General Manager Rs 930.44 crore has been sanctioned for three rural drinking water supply projects in Ajmer, Jalore, and Kota districts.
- Rs 926.48 crore was sanctioned for the construction of 676 rural roads in the desert and tribal areas of the state.
- Earlier, Rs 117.15 crore had been sanctioned for the construction of 104 veterinary hospitals and 431 sub-centres in all districts of the state.
- Drinking water supply projects are expected to provide clean and potable water to 2.87 lakh households in 2,500 villages, whereas rural road projects will improve connectivity in 1,229 villages across 12 districts.
- NABARD is also supporting the state government in bringing 4.28 lakh hectares under micro-irrigation with a support of Rs 740 crore from the Micro Irrigation Fund.
- The lining of 450 km of earthen canals in Kota and Bundi districts is under construction following a Rs 623.38 crore assistance under NABARD Infrastructure Development Assistance.
National Bank for Agriculture and Rural Development (NABARD)
- It is a development bank focussing primarily on the rural sector of the country. It is the apex banking institution to provide finance for Agriculture and rural development.
- Its headquarter is located in Mumbai, the country’s financial capital.
- It is a statutory body established in 1982 under the Parliamentary act-National Bank for Agriculture and Rural Development Act, 1981.
The Rural Infrastructure Development Fund (RIDF)
- It was set up by the Government of India in 1995-96 for financing ongoing rural Infrastructure projects.
- The Fund is maintained by the National Bank for Agriculture and Rural Development (NABARD).
- The main objective of the Fund is to provide loans to State Governments and State-owned corporations to enable them to complete ongoing rural infrastructure projects.
