National

NABARD sanctions Rs 112 cr for 60 clusters in AP

Our Bureau Hyderabad | Updated on January 20, 2018 Published on April 18, 2016

The National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs 112 crore for drought-proofing of 60 clusters in Andhra Pradesh. The State proposed to cover 600 clusters under the programme.

The government has submitted a proposal to the Union Government, seeking funds for the programme under the United Nation’s climate change mitigation programme. “It might take some time before they get funds under the global programme.

Meanwhile, we have decided to sanction Rs 112 crore out of the estimated Rs 180 crore to cover 60 clusters in the State,” Harish Java, Chief General Manager, National Bank for Agriculture and Rural Development(NABARD), Andhra Pradesh Regional Office, has said.

Addressing a press conference here on Monday, he said it would cost about Rs 3.3 crore to take care of soil health in each cluster with 1,000 acres. The programme would cover protection and conservation of soil moisture, crop rotation and biomass nurseries.

The newly created regional office for Andhra Pradesh registered a total business of Rs 8,301 crore in 2015-16, showing a growth of 22 per cent over the previous year. The regional office disbursed Rs 3,010 crore towards long-term refinance and Rs 3,874 crore for short-term refinance.

Under the NABARD’s flagship rural infrastructure development fund, the regional office sanctioned Rs 775 crore for the new State. “We have announced support to the State’s Smart Village programme under the RIDF scheme,” he said.

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Published on April 18, 2016
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