NABARD provided Rs 1,236 crore from its Rural Infrastructure Development Fund for Assam in FY21

National Bank for Agriculture and Rural Development (NABARD) has provided an all-time high amount of Rs 1,236 crore from its Rural Infrastructure Development Fund (RIDF) during the financial year 2020-21 with Rural Connectivity Projects (Roads & Bridges) as the focus area in the state of Assam.

NABARD has also sanctioned Rs 1150 crore to Government of Assam during 2020-21 under RIDF XXVI for creation of new infrastructure projects. On implementation, these projects will lead to creation of 610 kms length of rural roads benefitting 1255 villages and favourably impacting about 16 lakh people of rural areas of Assam, besides benefiting 2472 hectare under irrigation, augmentation of infrastructure development of 2437 elementary schools and 23,397 ha under flood protection.

S S Saha, Chief General Manager stated RIDF is one of the rare low-cost windows for tapping scarce resources for the State Government at concessional rate of interest to create rural infrastructure. NABARD in association with the State Government is working together as a solution provider to the most vital agriculture and allied sectors with the aim of sustainable agriculture practices and doubling the income of the farming community in Assam.

Saha while underlining NABARD’s various interventions for sustainable and equitable growth in Agriculture aiming at rural prosperity in Assam said that infrastructure development is a necessary pre-condition for integrated rural development.

To facilitate income enhancement, provide quality service and easy access to market and other facilities to rural population of Assam, there needs massive investments in rural infrastructure in sectors like agriculture and its allied services such as soil and water resource management, irrigation, rural connectivity, renewable energy etc., besides some of the social sectors.

Under developmental initiatives, NABARD has sanctioned grant assistance to 13 farm sectors projects across the state for Rs 1.40 crore, Rs 85 lakh for 36 Skill Development Programmes with focus attention to reverse migrant labourers and Rs 85 lakh for establishment of 8 Rural Haats.

With a view to addressing the liquidity constraints faced by Rural Financial Institutions (RFIs) due to adverse impact of Covid-19 Pandemic, NABARD provided an amount of Rs 272 crore to Assam Gramin Vikash Bank and Assam Cooperative Apex Bank Ltd. as Special Liquidity Facility (SLF), under economic stimulus package to enable them to fully meet the crop loan requirements of small and marginal farmers.