M.P. to receive 10,000 crore from NABARD

Madhya Pradesh will receive Rs.10,000 crore from the National Agriculture and Rural Development Bank (NABARD) under the bank's re-financing scheme.

The funds, Including a Rs. 20-crore special package for the state's weavers and financial assistance for the construction of ITIs, were approved following a dialogue on the state's development priorities between Chief Minister Shivraj Singh Chauhan and NABARD chairperson Prakash Bakshi.

Mr. Bakshi informed that the limit of re-finance available to Madhya Pradesh would be increased to Rs. 20 thousand crore, which would facilitate the extension of loans at one percent interest rate to more farmers.

Further, the quantum of Rural Infrastructure Development Fund would be increased to Rs. 750 crore from Rs. 1500 crore. Besides, NABARD would assist the state government in the construction of rural roads, irrigation projects and godowns in the state. “Our priorities include flow of canal water to the tail-end farmers, cent percent exploitation of established irrigation potential, increase in agricultural production & its systematic storage and implementation of practicable suggestions mooted at the panchayats of various sections of society,” said Chief Minister Shivraj Singh Chauhan.

Mr. Chauhan informed that the recommendations of the Vaidyanathan Committee had been implemented in the cooperative banks of Madhya Pradesh.

It was also decided to make land available free of cost to primary cooperative societies for construction of godowns.

He urged NABARD to allocate Rs. 667 crore during the current fiscal as per the committee's recommendations and to assist the State Government in its initiatives for completing irrigation projects, asphaltation of rural roads, construction of new colleges and Industrial Training Centres and making Swarozgar Credit Cards available to beneficiaries.