Budget s agriculture sector announcements reiterate govt s rural focus
The increase in the agriculture credit with a target of Rs 16.5 lakh crore and the allocation of infrastructure fund for the development of APMCs reiterates the government s commitment to the welfare of farmers, and is a great move
Ajay Shriram | February 7, 2021 | Updated 10:48 IST
Budget 2021 announcements should help in dispelling fears farmers may harbour
The government has, through Budget 2021, sent a clear signal to rural India that it is completely committed to their cause. This was amply evident from the new levy, the agriculture infrastructure and development cess. To compensate for the additional cess, the government has reduced the excise duty component, resulting in no additional cost to the consumers.
NABARD disburses ₹16,500 cr under rural infra fund till Janurary 31 this fiscal
March 13, 2021
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Rural Infrastructure Development Fund (RIDF) provides low-cost funds to States to help complete incomplete rural infra projects
The National Bank for Agriculture and Rural Development (NABARD) has disbursed ₹16,500 crore under the Rural Infrastructure Development Fund (RIDF) during the current financial year so far (up to January 31, 2021).
Cumulative disbursements under the fund, which was started in 1995 to create social assets in rural India, stood at ₹3,10,849 crore as on January 31, 2021, NABARD said in a statement.
Under RIDF, low-cost funds are provided to States to facilitate completion of incomplete rural infrastructure projects.
Read more about Nabard disburses Rs 16,500 cr under RIDF in first 10 months of FY21 on Business Standard. Nabard said it has sanctioned Rs 30,200 crore in the same time
Nabard disburses Rs 16,500 crore under RIDF in first 10 months of FY21
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Last Updated: Feb 06, 2021, 04:13 PM IST
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Synopsis In FY21, the sanctions to the RIDF stood at Rs 30,200 crore as against the corpus of Rs 30,000 crore. The disbursement for the current financial year as on January 31, 2021 stands at Rs 16,500 crore, Nabard chairman G R Chintala said in a statement.
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Chintala noted that the increased allocations to both the funds will help push rural infrastructure projects across states.
Mumbai: The National Bank for Agriculture and Rural Development (Nabard) on Saturday said it has sanctioned Rs 30,200 crore and disbursed Rs 16,500 crore for various rural infrastructure projects across the country under the Rural Infrastructure Development Fund (RIDF) in the first 10 months of the current financial year. The RIDF, which was set up in 1995, is a dedicated fund to create social assets in rural India.
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The Union Budget 2021-22 as mentioned by the Finance Minister seems to be an extension of previous yearâs mini and major budgets. While keeping the allocation relatively consistent, focussed more on infrastructural reforms. It goes in line with the proposal resting on 6 pillars of health and well-being, physical, financial capital and infrastructure, inclusive development for aspirational India, reinvigorating human capital, innovation and R&D and minimum government and maximum governance.
It is worth noting that the allocation to agriculture under DAC&FW decreased in this budget with respect to last year. Finance Minister Nirmala Sitharaman allocated Rs 1,23,017 crore to the Department of Agriculture, Cooperation and Farmers Welfare. This is 8.5 per cent lesser allocation as compared to last year. According to revised estimates the Union Government may be able to spend only Rs 1,16,757 crore out of the allocated Rs 1,34,399 crore in 2020-21. T