The National Bank for Agriculture and Rural Development (NABARD) will provide Rs 4,489 cr to Chhattisgarh for development of agriculture and infrastructure in the rural areas.
This is 34% more than what was given by the Bank in the last financial year, 2016-17.
This information was provided by NABARD’s Chief General Manager of Chhattisgarh Region NP Mahapatra at a press conference held here on Friday.
He informed that in order to double the financial income of farmers in the country the lok Sabha on Thursday passed a Bill raising the NABARD capital six times from 5,000 cr to 30,000 cr.
Mahapatra further informed that the financial assistance to the Chhattisgarh State in the financial year 2015-16 was Rs 2,816 cr and was increased by 39% in the year 2016-17, amounting Rs 3,928 cr. Commenting on the rainfall in Chhattisgarh he said the State records 1000 to 1300 mm rainfall in an average and that is good enough for cultivation.
The status of agriculture here is thus satisfactory but work has to be done for better connectivity in the rural region and stop the migration of labour, he said.
He further informed that NABARD is committed to its motto of development through credit and is moving ahead for the development of rural areas by funding for agriculture, small and medium scale industries.
The NABARD will provide funding of Rs 1,050 cr in the financial year 2017-18 for the development of infrastructure under the Rural Infrastructure Development Fund (RIFD), he said. The Bank is funding three major irrigation projects, namely, Kelo, Kharung and Maniyari Tank Scheme in Chhattisgarh under the long Term Irrigation Fund (lTIF). An MoU has been signed by us with Chhattisgarh Government in this regard, he said. One major contribution of NABARD to the State’s development is that of funding for paddy procurement.
To support the welfare of farmers of the State Rs 1,000 cr was disbursed to CGMARKFED this year, he informed.
Apart from that, the Chhattisgarh State Power Transmission Company limited (CSPTCl) has been funded Rs 142 cr in order to establish sub-stations and power transmission system for providing electricity in the rural areas of the State, he said.
In a major move, NABARD has supported the co-operative banks of Chhattisgarh State and RRBs to facilitate the co-operative banks to issue 11.38 lakh RuPay kisan cards in Chhattisgarh and was adjudged the leading bank in the country in this regard, he said.