The National Bank for Agriculture and Rural Development (NABARD) provided a record high amount of Rs 1,236 crore from its Rural Infrastructure Development Fund (RIDF) of FY21, for the Rural Connectivity Projects (Roads & Bridges) in Assam.
- Objective: To improve the sustainable agriculture practices and double the farming community’s income in Assam.
About NABARD’s sanctions to Assam:
i.For creating new infrastructure projects, NABARD has also sanctioned Rs 1150 crore to the Government of Assam during FY21 under RIDF XXVI.
Benefits under the infrastructure projects:
- The infrastructure projects in Assam will lead to creation of 610 km length of rural roads in the state- benefitting 1255 villages around 16 lakh people.
- It also led to 2472 hectare under irrigation, augmentation of infrastructure development of 2437 elementary schools and 23,397 hectares under flood protection.
ii.NABARD has sanctioned Rs 1.40 crore to grant assistance to 13 farm sector projects across, Rs 85 lakh for 36 Skill Development Programmes (focus attention to reverse migrant labourers), and Rs 85 lakh for establishment of 8 Rural Haats.
iii.NABARD provided an amount of Rs 272 crore to Assam Gramin Vikash Bank and Assam Cooperative Apex Bank Ltd. as Special Liquidity Facility (SLF) to address the liquidity constraints faced by Rural Financial Institutions (RFIs) due to Covid-19.
i.It was set up by the Government in 1995-96 for financing ongoing rural Infrastructure projects and it is maintained by NABARD.
ii.Objective – To provide loans to State Governments and State-owned corporations to enable them to complete ongoing rural infrastructure projects.
Recent Related News:
On 3rd December, 2020 Agricultural and Processed Food Products Export Development Authority (APEDA) and NABARD signed a Memorandum of Understanding (MoU) to address the key interests of Agriculture and allied sectors for bringing better value to the stakeholders and Implementing Agriculture Export Policy (AEP).
About National Bank for Agriculture and Rural Development (NABARD):
Establishment – 1982 (on the recommendations of B. Sivaramman Committee)
Headquarters – Mumbai, Maharashtra
Chairman – Govinda Rajulu Chintala
Tribes of Assam – Chakma, Chutiya, Dimasa, Hajong, Garos, Khasis, Gangte, Karbi, Boro, Borokachari, Kachari, Sonwal, Miri, Rabha, Garo, etc.
Important Festivals – Bihu, Ambubashi, Ras Lila in Majuli, and Dehing Patkai