NABARD provides record high financial assistance to Punjab in FY 2022

Chandigarh, May 5 (PTI) The National Bank for Agriculture and Rural Development (NABARD) on Thursday said it has provided financial assistance of Rs 12,491 crore to Punjab for the financial year 2021-22. This financial aid is the highest ever.

NABARD has been supporting the State Government in creation of rural infrastructure through various concessional funds such as Rural Infrastructure Development Fund (RIDF), Micro Irrigation Fund (MIF), ‘Warehousing Infrastructure Fund’ (WIF) etc.

Chief General Manager Rajiv Siwach said that during the year 2021-22, NABARD approved an all-time high RIDF assistance of Rs 823 crore, which is 46 per cent higher on a year-on-year basis.

“This includes 63 rural drinking water projects, modernization of milk processing unit, drainage and storage projects,” Siwach said in a statement.

In addition, NABARD has made a record disbursement of Rs 765 crore, which is 28 per cent higher on a year-on-year basis in 2021-22.

“The implementation of these projects will provide potable water to the state’s 15.15 lakh population, processing 2 lakh liters of milk per day, 3,593 additional classrooms, reclamation of 28,672 hectares of waterlogged area and creation of 1.25 lakh tonnes of storage capacity,” Siwach said.