Thakur pitches for more NABARD funds to Himachal
ibune News Service
Shimla, February 20
Chief Minister Jai Ram Thakur took up the issue of increasing the annual normative allocation to the state with NABARD from existing Rs 700 crore to at least Rs 1,000 crore for the financial year 2019-20.
Presiding over a meeting held here today with the officers of NABARD, the Chief Minister said the increase in the allocation would enable the state create agriculture-related infrastructure in rural areas besides strengthening the road network in these areas. He also felt the need to delegate sanction powers to the Regional Office, NABARD, so as to expedite the sanctioning and implementation process of the projects under the RIDF programme.
Thakur said due to difficult topography and adverse climatic conditions of the state, the NABARD should consider increasing the phasing period for implementation of projects of tranche from existing four years to six years. This would reduce the number of non-starters and slow moving projects and also improve the reimbursement position of the state, he added.
The Chief Minister said due to harsh climatic conditions, the road projects in the state usually took 6 to 10 years for completion. Therefore, NABARD should contemplate increasing the period for maintenance fund from 10 years to 15 years. He said apart from this, maintenance fund should be provided at a fixed rate of interest at less than four per cent.
The Chief Minister said the hydropower sector was the priority sector of the state government and NABARD should consider funding execution of hydropower projects in the state. He said tourism was yet another sector on the priority list of the government for which he sought liberal assistance.
NABARD chairman Harsh Kumar Bhanwala apprised the Chief Minister that the bank was ensuring liberal funding for various developmental projects in the state.
