&w=3840&q=100)
Nabard promotes 6,215 farmer producer organisations, says FM Sitharaman
The major support provided to Farmer Producer Organisations (FPOs) includes formation of FPOs, capacity building, credit facilitation and market linkage support, financial literacy, etc, Finance Minister Nirmala Sitharaman said in Lok Sabha.
In addition, she said, Nabard, in partnership with Small Farmers' Agri-Business Consortium (SFAC) and Open Network for Digital Commerce (ONDC), has conducted FPO Melas (TARANG-celebrating Collectivisation) at 50 locations across 24 states/UTs to demonstrate the products of FPOs/OFPOs to enable the marketing & branding of FPO products.
She further said Nabard extends loan assistance to state governments for the creation of rural infrastructure through various funds, that is, Rural Infrastructure Development Fund (RIDF), Nabard Infrastructure Development Assistance (NIDA), Rural Infrastructure Assistance to State Governments (RIAS), Long Term Irrigation Fund (LTIF), Micro Irrigation Fund (MIF), Food Processing Fund (FPF), Warehouse Infrastructure Fund (WIF) and Fisheries and Aquaculture Infrastructure Development Fund (FIDF).
State/UT wise yearly allocation is made under RIDF on the basis of funds allocated by Reserve Bank of India (RBI) from Priority Sector Lending (PSL) shortfall, she said.
Other than RIDF, the support through various funds is provided to States/UTs on the basis of proposals received from the respective State/UT Governments, and no yearly allocation is made, she said.
The reduction in the Priority Sector Lending (PSL) shortfall fund in the financial year 2024-25 resulted in a consequent reduction in RIDF fund allocation to the States/UTs, she said.
NABARD's funding support through the above-mentioned funds enhances rural infrastructure, including roads, irrigation, and storage facilities, which leads to increased productivity and better market access in rural areas, she said.
This, in turn, improves the ability of rural borrowers to absorb and utilise credit effectively, she said, adding, Nabard also provides short-term & long-term refinance to Cooperative Banks and Regional Rural Banks (RRBs) for agricultural loans at concessional rates.
Sharing data of sanction and disbursement under RIDF during the past three years, 2022-23 to 2024-25, to various states, she said, against sanctions of Rs 1,40,789 crore, Rs 1,22,595 crore disburement was done.
For funds other than RIDF, she said, disbursement of Rs 36,439.63 crore was done against sanctions of Rs 47,617.63 crore during the financial years 2022-23 to 2024-25.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
7 minutes ago
- Indian Express
Day after relief for AAP's Satyendar Jain in PWD hiring case, Delhi govt claims Rs 650-cr fraud in LNJP project
A day after a CBI closure report in a corruption case came as a relief to former Delhi minister Satyendar Jain, the BJP government on Tuesday levelled fresh allegations of irregularities in the construction of a new block at the LNJP Hospital under the previous Aam Aadmi Party (AAP) government. Public Works Department (PWD) Minister Parvesh Sahib Singh said the government has sent a file to Lt Governor V.K. Saxena for a probe into the matter. The AAP, however, rejected the claims and slammed the ruling BJP over 'frivolous and baseless cases' in a statement. Speaking to the reporters, the PWD Minister claimed that the project's budget was inflated by Rs 650 crore during Jain's tenure as the PWD and health minister. 'There is a difference between the budget sanctioned for the construction of a new block at LNJP Hospital earlier and today. The amount has increased by Rs 650 crore. Jain suggested changes during reviews to benefit the contractors, which led to cost escalation. There was a scam of Rs 650 crore. We have sent a file to the L-G on this matter. He will forward it to either ACB Or CBI for inquiry in the matter,' Singh said. According to officials, a committee was constituted to examine the procedural lapses, which found that the original contract amount was Rs 465 crore, which escalated to Rs 1,139 crore, almost 243% higher. The committee highlighted irregularities and violations in consultancy work under Jain. It also alleged the 'selection of the favoured architect consultant was done through a questionable process that was marred with irregularities and in gross violation of provisions of GFR'. According to documents, the consultancy work was awarded for an area of 84,420 sqm with a value of Rs 5.27 crore to a contractor on nomination basis without calling for any tender as per the decision of the then Health Minister. It also stated that even as six consultants were empanelled, it was specifically noted that financial bids were called separately for each project. 'However this condition was flouted and then arbitrary decision was taken to appoint consultants district wise or region wise, stating that a single consultant with deal with all projects there in… Bids were invited for consultancy work pertaining to district central for an area of 90,000 square metres with the value of Rs. 5.62 crore,' reads the document. Meanwhile, AAP in its response said, 'The BJP and its ministers are obsessed with the ACB, CBI, and ED. Every day, they hatch conspiracies against AAP leaders, waste time drafting baseless and frivolous cases, and squander taxpayers' money on directionless investigations.' On the PWD hiring case, it added, 'Just a day ago, the court taught them a lesson by closing one of the CBI cases against Satyendar Jain. The court clearly stated that the CBI had registered a baseless case with no corruption, no criminality, and no evidence. Yet, the minister's home was raided, and he was harassed for eight years.'
Indian Express
7 minutes ago
- Indian Express
Foreign firms' profit used to finance terror, go swadeshi instead: CM Yogi
Chief Minister Yogi Adityanath on Tuesday urged people to use 'swadesh' or local products and warned that money spent on foreign goods will be used in promoting terrorism, religious conversion, and to hit India's economic stability. Stating that 'swadeshi' was necessary for economic self-reliance and prosperity, Adityanath said: 'Adopting Swadeshi is the need of the hour. If our money stays with our own craftsmen and artisans, it will lead to growth and prosperity and also help increase per capita income. But, if this money goes to foreign hands, it could be used against the country — in the form of terrorism, religious conversions, and disturbances to destabilize India.' He was speaking at an event in Aligarh where he also appealed to people to give locally made products as gifts to their loved ones during the upcoming festivals. The CM's remarks come in the wake of Prime Minister Narendra Modi's 'Vocal for Local' campaign amid the tariff threat by US President Donald Trump. The chief minister also unveiled development projects worth over Rs 957 crore for Aligarh. The key initiatives included a drinking water restructuring scheme, a forensic science lab, a new degree college in Atrauli, a 900-kiloliter water reservoir, and the widening and beautification of the Atrauli–Railway Station road. He praised the country's military self-reliance and added that Aligarh is emerging as a hub for drone and hardware manufacturing, creating jobs and boosting prosperity for local artisans. The chief minister said the Defence Corridor, launched in 2018, is now producing advanced weapons like the world-class BrahMos missile, strengthening India's defence capabilities. Citing Operation
Indian Express
7 minutes ago
- Indian Express
Rajghat power plant, Khyber Pass, MSO building, Indraprastha Estate — probable locations for new Delhi Secretariat
PWD Minister Parvesh Sahib Singh said on Tuesday that the BJP-led government is looking at Rajghat Thermal Power Plant, Khyber Pass, ITO MSO building, and Indraprastha Estate near the WHO building, as key locations where the new Delhi Secretariat could be constructed. 'There are three to four good locations with huge spaces where a new secretariat can be constructed. Land is available at Rajghat Thermal Power Plant, which has been shut for years now… The available space is huge, measuring up to 18 acres,' Singh told mediapersons. 'A high-rise building can be built there like the civic centre, on a Public Private Partnership model, so that the government can recover the cost of the project at the same time while building a Secretariat,' he added. Officials said that 70% of the Rajghat Thermal Power Plant land is with the government and the remaining with the Delhi Development Authority. The plant has been defunct for the last 10 years. 'There are other land spaces available at Khyber Pass, Civil Lines near Vidhan Sabha, ITO and near the WHO building… Nothing is final yet, but these land spaces are being considered…,' said Singh. At ITO, the MSO and Trade and Taxes building and Vikas Bhawan across the road come under the Delhi government. Chief Minister Rekha Gupta had recently announced that the Delhi government will identify locations to build a new Secretariat, allowing all departments to operate under one roof. Currently, the CM, ministers, and top bureaucrats handling charges of departments like Finance, Transport, Environment, Home, Education, and others, operate from the Secretariat located near Indira Gandhi Stadium in Indraprastha Estate. Used to be called the Players' Building, it was built as a hotel to accommodate the players participating in the 1982 Asian Games. The building was found to be 'seismically unsafe' in 2023 in a study conducted by the PWD. Officials said that due to lack of space, departments like Planning are soon going to shift to the DMRC building in Shastri Park. The government is planning to revamp the DTC headquarters, situated near IP Metro Station, they added. The AAP government had proposed to build a new Secretariat in 2021. It had proposed demolishing the PWD and GST buildings as well as Vikas Sadan at ITO and constructing twin 35-storey towers. The PWD had also issued a tender in December 2021 to hire a consultant, but the project, estimated to cost around Rs 1,200 crore, did not take off. In 2024, the PWD again came up with a draft proposal and an architectural plan and sent the file to former Chief Minister and PWD minister Atishi, but the project remained on paper.
