Rs 2,500 cr Nabard fund for rural infra development

BHUBANESWAR: National Bank for Agriculture and Rural Development (Nabard) has set a target to sanction around `2500 crore to Odisha Government for rural infrastructure development during 2018-19.  
Speaking at a State level Planning and Sensitisation Workshop, Chief General Manager (Odisha Region) of Nabard KC Panigrahi said Odisha is the number 1 State in the country for loans sanctioned under Rural Infrastructure Development Fund (RIDF).

"The State is performing well and it has topped among all States in RIDF performance in 2017-18. Last year, `2,512 crore was sanctioned under the RIDF," he said.

Panigrahi appreciated the contribution of Planning and Convergence Department, Finance Department and other implementing Departments for successful execution of RIDF projects in the State.
The workshop organised by Nabard to sensitise the implementing departments about various aspects of loans under RIDF was inaugurated by Finance and Excise Minister Shashi Bhusan Behera.

The Minister said rural infrastructure investments help raise the socio-economic status of the rural people through increased income levels and quality of life. Development of agriculture on which more than 75 per cent of the State's population depends is directly linked to rural infrastructure, he added.

Drawing a comparison between Odisha and other States including Maharashtra, Gujarat and Punjab, Behera said the growth of agriculture in Odisha is more consistent and it would be better in time to come. He urged the implementing departments and Nabard to work in close coordination so that the State will continue to get optimum benefit.

Principal Secretary of Finance Department Tuhin Kanta Pandey said the execution of various projects has become better due to RIDF and effective project appraisal by Nabard. "The RIDF is the cheapest fund for the State Government and any amount of assistance is welcome," he added.