Nabard aid to Punjab, Haryana and Chandigarh up 32%

Written by fe Bureaus | Chandigarh | Updated: Apr 11 2009, 03:34am hrs
Nabard has extended a record support of Rs 8,188 crore for agriculture and rural development in the states of Punjab, Haryana and UT Chandigarh in 2008-09, a growth of 32% over 2007-08.

Of the Rs 8,188 crore, Rs 1,711 crore (21%) was in the form of investment credit for capital formation covering farm and non-farm sector activities to commercial banks, regional rural banks and co-operative banks in the states of Punjab, Haryana and the union territory of Chandigarh. An amount of Rs 5,741 crore, 71% of the total support, was extended to co-operative banks and RRBs to meet the short-term credit needs of farmers for carrying out seasonal agriculture operations and other activities.

Under the Rural Infrastructure Development Fund (RIDF), Rs 736 crore was extended to the governments of Punjab and Haryana for infrastructure facilities such as roads, bridges, irrigation, schools and veterinary hospitals etc. Further, An amount of Rs 827 crore has been sanctioned under RIDF for 102 irrigation, 140 roads, 49 bridges, five animal husbandry and six educational projects for the states of Punjab and Haryana.

In 2008-09, Rs 215 crore was released to the Haryana government to strengthen co-operative credit institutions, namely, Haryana State Cooperative Bank, District Central Cooperative Banks and Primary Agriculture Cooperative Credit Societies in the state under the Vaidyanathan Package for Revival of Cooperatives. Similarly in Punjab, the process of implementation of Vaidyanathan Committee recommendations has been kicked off with the signing of a MoU with the state government.

Nabard has taken effective steps towards more inclusive growth under Self Help Groups Bank Linkage Programme by facilitating 5,400 SHGs credit linkages with banks in Punjab, Haryana and Chandigarh. A total grant support of Rs 40 lakh was sanctioned to various partner NGOs, banks for promotion and linkage in these states.