Punjab to seek Rs 700 crore from NABARD for development projects

CHANDIGARH: The Punjab government today said it will seek funds to the tune of Rs 700 crore from NABARD for various development projects in the state.

Punjab Chief Minister Parkash Singh Badal gave nod to a comprehensive plan for seeking financial assistance from National Bank for Agriculture and Rural Development (NABARD) under RIDF XX for the year 2014-15.

Presiding over a meeting here, Badal impressed upon NABARD officials to sanction loans liberally for funding various development projects especially in the rural sector.

During the meeting, Badal was apprised of several developmental projects such as construction of field channels of Kotla Branch Phase-II system, Pradhan Mantri Gram Sadak Yojana (PMGSY), improvement, remodeling and rejuvenation of village ponds and disposal of sullage water.

The Chief Minister was also informed about the civil works of schools that would be undertaken with RIDF loans amounting to Rs 687 crore against total cost of Rs 1,876.61 crore.

Badal also impressed upon the NABARD Chief General Manager Naresh Gupta to donate generously under Corporate Social Responsibility (CSR) towards state's noble mission to fight drug abuse by setting up a network of drug de-addiction and rehabilitation centers.

The Chief Minister also asked NABARD officials to look into the possibility of funding the projects for constructing warehousing facilities for rural societies in villages to store fertilisers, pesticides, seeds and agricultural implements.

Badal asked Chief Secretary to work out a detailed proposal after discussing issue threadbare with the senior officers of the Cooperation department, Markfed, Milkfed, Pungrain, Punjab Agro Corporation and Punsup.

NABARD CGM assured Badal that he would soon take up all the issues raised by him with NABARD Chairman for their early resolution.