Bhubaneshwar: The state government on Thursday urged Nabard to increase its loan assistance to 10,000 crore rs under various schemes such as the Rural Infrastructure Development Fund (REGF), rural infrastructure assistance for the country (Rias) and Long-Term Irrigation Fund (LITF).
This problem was discussed during a meeting of senior state government officials with the Chairman of Nabard Gr Chintala, who also met with the head of the head of Naveen Patnaik separately at the last residence.
The minister’s chairman stressed the role of low-cost credit support from Nabard to build rural infrastructure that was strong disaster.
During the meeting with state government officials, Chief Secretary of the Suresh Chandra Mohaparna said the state was ready to implement a project worth RS 5000 Crore under the Regf, Rs 4,500 Crore under Litf.
Emphasizing the need for further investment, the Chief Secretary said there was a need for a higher investment in rural roads, irrigation, agricultural development, social infrastructure, creation of new livelihood opportunities, agri-business in post-covid scenarios.
“With faster pioneering initiatives and performances in all sectors, Odisha has emerged as a rapidly developing country in the past two decades.
The state has achieved a 24% highest poverty reduction in the last decade which resulted in exemption of around 8 million people from the poverty net,” said the head Secretary.
Mohapatra said Odisha has become a lead country in the implementation of rural roads, housing, empowerment of farmers, women’s empowerment, skills development, and implementing investment projects, and attracting new investments.
During the meeting, the Commissioner of Development of Pradeep Jena underlined the need for more investment in building disaster-tough infrastructure in the state due to its unique location which made it vulnerable to disaster.
He said the strengthening of flooding and the embankment of saline would ensure agriculture and the sector sector against natural anger.
Vishal Dev State Finance Secretary highlighted the need for more Nabard assistance in financial inclusion and emphasized the need to cover all GPS without good accounts through brick branches or banking correspondents.
The Chairperson of Nabard said Odisha was a lead country in full utilization of regf funds.
“The country grew into a place where industrial activities and large businesses over the past decade,” Chintala said.
He said Nabard would do his best in increasing his involvement with the state.
Nabard has increased its Regf loan from around Rs 2500 Crore in 2016-17 to RS 3000 Crore in the financial year 2021-22.