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The Ministry of Rural Development has released the payment of Rs 288.48 crore to National Rural Roads Development Agency (NRRDA) for making payment of interest to National Bank for Agriculture and Rural Development (Nabard) for the period ending March 31, 2011.
This interest is to be paid to Nabard as a part of tripartite agreement between Rural Development Ministry, NRRDA and Nabard for the implementation of Pradhan Mantri Gram Sadak Yojana (PMGSY).
PMGSY is a 100 per cent centrally sponsored scheme to provide road connectivity in the rural areas of the country. PMGSY envisages connectivity to all habitations with a population of 500 persons and above in the rural areas and about 250 persons and above in respect of the hilly states, tribal areas and desert areas through good and all weather roads.
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