Punjab to get Rs 700 cr from Nabard

Vijay C Roy

Tribune News Service

Chandigarh, April 22

Rural infrastructure projects in Punjab are likely to get a shot in the arm as the state is likely to get Rs 700-crore assistance in the current fiscal under Rural Infrastructure Development Fund (RIDF) from Nabard. It will drive inclusive growth in rural and farm economy.

Dr Rajiv Siwach, CGM, Nabard, Punjab Regional Office, said, out of total assistance under RIDF last year, social sector comprising schools, drinking water supply, sewerage and health got Rs 318 crore, followed by farm sector Rs 223 crore and rural connectivity Rs 59 crore.

Also, in order to address the issue of depleting groundwater in the state, Micro Irrigation Fund has been implemented in the state with Rs 150 crore benefitting about 26,000 hectares. Further, a credit facility was provided to Milkfed for liquidity support during the Covid pandemic.

The CGM said the Nabard has provided financial support of Rs 12,108 crore to the state by registering a growth of 51% over the disbursements during the previous year.

He said the refinance support of Rs 11,311 crore was provided to the state by registering a growth of 48% over the disbursements during the previous year.