Development of infrastructure holds the key to attaining faster economic growth, more so for rural economy which needs massive investments in the infrastructure sector.
The Rural Infrastructure Development Fund (RIDF) of NABARD was created to fund completion of ongoing projects and launch new projects as well in rural areas. Over the years, it has become an important source for funding various projects across Odisha catering to the critical infrastructure needs in rural areas.
The NABARD at a recent meeting held at its Head Office in Mumbai has sanctioned projects worth Rs151.78 crore to the Government of Odisha under RIDF Tranche XX (2014-15).With this, the total amount sanctioned by the NABARD to the State during the year has gone up to Rs1,354.72 crore under RIDF Tranche XX to create infrastructure in various sectors such as irrigation, rural connectivity (roads & bridges), fisheries and animal husbandry.
The present sanction includes 17 flood protection/drainage development projects involving Rs151.78 crore. These irrigation projects envisage to create/stabilise/develop an irrigation potential of 86,587 hectares in Odisha.Cumulatively since inception of the RIDF, the NABARD has sanctioned Rs10,698 crore to the State Government for implementing more than 1.92 lakh projects under various sectors.
Further, with an objective of development of warehousing facilities in 111 Primary Agriculture Credit Societies (PACS), the NABARD has sanctioned an amount of Rs57.57 crore towards construction of 111 godowns/warehouses of capacities 300 MT to 1,500 MT in 13 districts of the State under the Warehouse Infrastructure Fund (WIF): 2014-15.These projects envisage creation of additional storage capacity of 64,100 MT which could be used in storage of agriculture produces.