NABARD to Fund Rural Projects in Maharashtra

Posted on 2nd Feb 2015 01:01 pm by mohit kumar

Mumbai, Jan 31 (IANS) The National Bank for Agriculture and Rural Development (NABARD) Saturday said it is willing to fund rural infrastructure projects in Maharashtra as the quantum of priority sector lending in the state will stand at Rs. 1,80,032 crore for the coming fiscal year.

"Maharashtra may prepare State Infrastructure Development Plan to which NABARD can fund. The state should focus on the infrastructure development in rural areas by prioritising the districts and state specific infrastructure needs", NABARD said in a statement.

According to the apex development bank, the credit flow potential in the state is almost double the previous year that stood at Rs 91,234 crore for the year 2014-15.

"The lending potential for agriculture sector will be Rs 65,512.18 crore whereas the credit potential for non-farm sector and other priority sector will be Rs 62,141.96 crore and Rs 52,378.15 crore respectively", a study paper on the state by NABARD said.

The study also estimated the potential credit for the agriculture sector at Rs 46,634.10 crore. Among other non-farm sectors, there is a good lending potential for sectors like water resources at Rs. 4059.44 crore, farm mechanisation at Rs. 2,640.06 crore, plantation and horticulture at Rs. 2,794.96 crore and storage godowns at Rs. 1,706.52 crore.

NABARD said since 18 percent of the net sown area is irrigated in Maharashtra, it needs to be addressed on an urgent basis. Also, development of watersheds is another priority in the state.

Other news

Two labs get notice for overcharging for swine flu test

New Delhi, Feb 21 (IANS) The Delhi government Saturday issued notices to two private laboratori

IND vs ENG: As soon as India reached the final, there was a flood of congratulations, these legends including Sachin-Jaffer expressed happiness

India entered the final by registering a win against England on Thursday. Team India defeated Eng

'Who Kangana?', Annu Kapoor reacted to Kangana Ranaut's slapping incident, and people were surprised to hear the answer

Bollywood actor Annu Kapoor is in the headlines these days for his film 'Hamare Baarah'. There ha

New cold war sound in the world: Russia sent 1.5 lakh soldiers to Ukraine border, then NATO countries came together for retaliation

After the breakup of the Soviet Union in 1992, the military alliance of the US and its European a

Delhi High Court to hear petitions against Agneepath scheme on July 20

The Delhi High Court on Tuesday said it will hear on July 20 several petitions challenging the Ag

Pakistan's friend China also showed its true colors, closing the facility of the consular section

Pakistan is currently facing a lot of economic crisis and rising inflation in the country is also

'Captaincy skills learned from MS Dhoni', King Kohli made a big disclosure, gave a surprising statement on responsibility

India's star batsman Virat Kohli has made a big disclosure about the captaincy of the team. Kohli

UP Unlock: Malls and restaurants will open in the state with 50% capacity from June 21, night curfew will also be exempted

The Uttar Pradesh government is gradually giving relief as the effect of the second strain of the

Government concerns about the environment: PM Modi addresses 'Energy for Sustainable Growth' webinar, says need to plant solar trees at home

Prime Minister Narendra Modi today addressed a webinar on the topic "Energy for Sustainable Growt

Shahid Afridi joins Ravi Shastri's tone regarding changes in ODI cricket

Team India's former cricketer and head coach Ravi Shastri recently said that to save the future o