NABARD gives financial support of Rs 42,313 crore in FY20 for rural infra

Apex agriculture financial institution NABARD has extended Rs 42,313 crore financial support during 2019-20 for building rural infrastructure.

The financial institution has so far this fiscal disbursed Rs 20,869 crore in addition to providing Rs 5,686 crore for rural connectivity, a statement by NABARD said.

Recognizing that the social aspect of economic development is equally important, NABARD has been supporting the Centre's programmes to provide “housing for all by 2022” under Pradhan Mantri Awas Yojana – Gramin as well as clean water and sanitation under Swachh Bharat Mission – Gramin.

During the current year, the National Bank for Agriculture and Rural Development (NABARD) has released Rs 10,935 crore to support these initiatives, it said.

The other segments supported by NABARD are drinking water supply, renewable energy, storage and dairy infrastructure, etc.

These efforts have reinforced and supported the Centre's initiatives for improving the rural economy, multiply job opportunities in the rural market and thus stabilize income, it said.

During the last five years, NABARD has disbursed Rs 1,98,485 crore for all-round economic growth of rural India with a view to improving the standard of life of rural poor.