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Our Bureau

Chennai , April 6

NABARD sanctioned Rs 2,340 crore as assistance to Tamil Nadu and Pondicherry during 2003-04, according to a release from Nabard's Tamil Nadu Regional Office.

Apart from refinance, it hopes to expand the scope of activities in the State with the additional support expected through the newly constituted Agriculture Credit Infrastructure Fund. Over the next three years, Rs 50,000 crore will be available for the entire country.

This will give a fillip to investment in agriculture and commercial infrastructure through the banks and State Governments, and also to development measures and risk management mechanisms, the release said.

In 2003-04, Nabard disbursed Rs 733 crore in Tamil Nadu including Rs 267 crore to the non-farm sector; Rs 232 crore to self-help groups, Rs 43 crore to dairy development, and Rs 21 crore to farm mechanisation. These were routed through the apex State co-operative bank, State Co-operative Rural Development Bank, regional rural banks and commercial banks.

Under the Rural Infrastructure Development Fund (RIDF), it sanctioned Rs 547 crore, of which Tamil Nadu has drawn Rs 363 crore. The cumulative sanction under RIDF is Rs 2,425 crore with disbursements at Rs 1,663.65 crore.

Nabard provided Rs 232 crore refinance assistance to 36,116 self-help groups. The cumulative refinance is Rs 621 crore to 1,13,106 groups.

During the year, it also gave as grants Rs 46 lakh to programmes for non-farm sector development, apart from organising rural entrepreneur development programmes. It extended the District Rural Industries Project to Vellore, formed 101 new farmers' clubs and covered 27 watersheds in seven districts with a grant assistance of Rs 1.14 crore.

Nabard's assistance to Tamil Nadu and Pondicherry was Rs 1,914 crore in 2002-03 and Rs 1,797 crore in 2001-02.

More Stories on : Agricultural Institutions | Tamil Nadu

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