Infrastructure plays a crucial role for not just the country’s economic growth but also its progress in human development. Rural areas account for a larger part of the geographical area in India. The RIDF was set up by the government in1995-96 for financing ongoing rual infrastructure projects.Funds managed by NABARD the government of India (GoI) has initiated critical schemes for the upliftment of rural infrastructure. Such as: • Pradhan Mantri Awas Yojana (PMAY – Gramin):Rural Infrastructure Development Fund Census 2011 reports that there are 6.4 lakh villages in India, which shelter more than two-third of the country’s population. Provisioning of basic infrastructure facilities for this large section of the population spread across 3.28 million square kilometer of the country’s geographical area has been a major challenge.
Rural Infrastructure Development Fund
Rural Infrastructure Development Fund:Government of India created the RIDF in NABARD in 1995-96, with an initial corpus of Rs. 2,000 crore. With the allocation of Rs40,001.98 crore for 2022-23 under RIDF.Rural Infrastructure Development Fundwhich has placed its deposit with NABARD and also the loans that are to be paid out by NABARD from RIDF have been linked to the Bank rate that is prevailing at that point of time.The funds released under RIDF are maintained by the National Bank for Agriculture and Rural Development (NABARD). The main objective of the fund is to provide loans to State Governments and State-owned corporations to enable them to complete ongoing rural infrastructure projects. These funds are provided on a year-to-year basis by the Government of India. Government of India created the RIDF in NABARD in 1995-96, with an initial corpus of Rs.2,000 crore. The implementation phase for projects sanctioned is spread over 2-5 years, varying with type of the project and also location of the State.
Rural Infrastructure Development Fund upsc
rural infrastructure development fund upsc:Government of India created the RIDF in NABARD in 1995-96, with an initial corpus of Rs.2,000 crore.RIDF is a credit facility that is available to State Governments, State-owned corporations, State Government-sponsored.RIDF NABARD The main objective of the Fund is to provide loans to State Governments and State-owned corporations to enable them to complete ongoing rural infrastructure Development Fund upsc.Rural Infrastructure Development Fund (RIDF) created under NABARD can be utilized for agriculture and social sector.
Rural Infrastructure Development Fund Nabard
Rural Infrastructure Development Fund Nabard:The Fund is maintained by the National Bank for Agriculture and Rural Development (NABARD).The RIDF has become a dependable source of funding for states and union territories for building, strengthening rural infrastructure .The interest shall be paid at the end of each quarter i.e. 31 March, 30 June, 30 September and 31 December every year, including grace period.NABARD is a Development Bank with a mandate for providing and regulating credit for the development of agriculture, small-scale industries, cottage and village industries, handicrafts and other allied economic activities in rural areas to promote prosperity of rural areas.
FAQ’S
Q.What is the role of NABARD in rural infrastructure development?
A.NABARD is a Development Bank with a mandate for providing and regulating credit for the development of agriculture, small-scale industries, cottage and village industries, handicrafts and other allied economic activities in rural areas to promote prosperity of rural areas.
Q What is rural infrastructure development fund?
A.fund (RIDF) 3.54 The RIDF was set up by the Government in 1995-96 for financing ongoing rural Infrastructure projects. The Fund is maintained by the National Bank for Agriculture and Rural Development (NABARD).