Banking & FinanceCurrent Affairs

NABARD approves Rs.400 crore to boost infrastructure in JK

National Bank for Agriculture and Rural Development (NABARD) sanctioned an amount of Rs.400.64 crore to the Union Territory of Jammu & Kashmir during the current financial year. The aim is to boost the infrastructure in rural areas. The funding is a part of the NABARD’s ‘Rural Infrastructure Development Fund (RIDF)-Trench XXV’ which aims at augmenting rural infrastructure. Background: Earlier in 2020, NABARD has sanctioned Rs.209.87 crore for the construction of 82 rural roads and 3 bridges.  A road length of 291kms has been proposed to be constructed benefiting 9.15 lakh people in 19 districts of UT of J&K.  The construction of roads and bridges will provide all-weather improved connectivity to 461 remote villages.  A sum of Rs.143.66 crore has been sanctioned for the implementation of 38 water supply schemes.   The schemes are expected to benefit over 3.54 lakh people across 86 villages in 17 districts of UT of J&K.  Similarly, NABARD has also sanctioned an amount of Rs.47.11 crore towards improving the Animal and Sheep Husbandry sectors.

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