NABARD has given the approval for the loan under the Rural Infrastructure Development Fund (RIDF) to invest in social infrastructure projects like primary healthcare, soil conservation projects, rural connectivity such as road transport and bridge, water conservation and related activities, irrigation related programs and education etc. that would be implemented in the state of Goa.

Rural Infrastructure Development Fund (RIDF)

Indian Government formed the Rural Infrastructure Development Fund (RIDF) under NABARD with the initial capital of Rs. 2000 crore. The scheme was launched to provide the relatively inexpensive loans to the state governments for the speedy completion of the social infrastructural projects. The social infrastructural projects include agriculture and allied works such as irrigation, water and soil conservation projects, rural connectivity by means of road as well as bridge transport and social activities such as primary healthcare, drinking water and education related programs.

The projects that are funded under the RIDF are classified under three broad areas as follows:

  • Agricultural Sector and allied activities.
  • Rural connectivity
  • Social sector

National Bank for Agriculture and Rural Development (NABARD)

NABARD is the highest authority and development bank wholly owned by the Government of India. It was formed as a statutory body in 1982 by the National Bank for Agriculture and rural Development Act, 1981. NABARD was created on the recommendation of B. Sivaramman Committee. It is the leading authority that provides financial support to promote the development of rural areas. It provides the credit to rural agricultural and economics and acts as the promoter of policy of financial inclusion. Many international organisations such as World Bank help NABARD by means of financial help and advice to promote the agricultural and rural development.

No comments yet.

Leave a Reply