The Hindu : Karnataka / Bangalore News : Rs. 659 crore for Rural Infrastructure Development Fund

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Tuesday, Oct 21, 2008
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Karnataka

Karnataka - Bangalore

Rs. 659 crore for Rural Infrastructure Development Fund

Special Correspondent

BANGALORE: National Bank for Agriculture and Rural Development (NABARD) has committed Rs. 659 crore in financial assistance to the State Government under the Rural Infrastructure Development Fund (RIDF), tranche 14. The Government is likely to avail itself of RIDF assistance of Rs. 600 crore during 2008-09. So far, Rs. 146.87 crore has been disbursed by NABARD to the State Government. The Union Government has announced various relief measures for debt-ridden farmers in six districts of the State, according to NABARD officials here.

For irrigation

NABARD has sanctioned a loan of Rs. 45.80 crore for 98 projects, such as modernisation of minor irrigation tanks, construction of percolation tanks and barrages and lift irrigation projects for 2008-09.

The projects are expected to irrigate 5,433 hectares. With this, since the inception of the programme in 2006-07, NABARD funds sanctioned for minor irrigation projects under the Prime Minister’s package for the six districts has gone up to Rs. 277.99 crore, the officials said. NABARD has released Rs. 231.62 crore to cooperative banks and regional rural banks for the agricultural debt waiver/debt relief scheme in 2008.

A sum of Rs. 100.28 crore has been released to Karnataka State Cooperative Apex Bank Ltd., Rs. 45.53 crore to Karnataka State Cooperative Agriculture and Rural Development Bank Ltd., and Rs. 85.81 crore to regional rural banks as the first instalment under the agricultural debt waiver/debt relief scheme, the officials said.

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