Financial Daily from THE HINDU group of publications
Saturday, Oct 02, 2004
Financial Daily from THE HINDU group of publications Saturday, Oct 02, 2004 |
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Industry & Economy
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Water Nabard to implement rainwater harvesting scheme for AP Dalits Our Bureau
Hyderabad , Oct. 1 THE Andhra Pradesh Regional Office of the National Bank for Agriculture and Rural Development (Nabard) has announced that it would implement the Rs 200-crore, rainwater-harvesting scheme for the scheduled caste and scheduled tribe farmers in the State. In a press release here, Nabard said this was part of the national plan announced earlier by the Central Government in the Union Budget 2004-05. The objective of the scheme was to achieve accelerated growth of irrigation potential, thereby ensuring agriculture development and increasing per capita income of SC/ST farmers. The scheme envisages construction of one-lakh rainwater harvesting structures across the country with 50 per cent credit linked back-ended subsidy to be administered through Nabard. Andhra Pradesh gets a share of financial outlay to the tune of Rs 14 crore inclusive of Rs 7 crore of subsidy and Rs 7 crore of bank loan for a period of three years from 2004-05 to 2006-07. Construction of rain water harvesting structures such as farm ponds with lifting devices of 2HP petrol/kerosene pumps form components of the scheme, the bank said. Nabard said for grounding the scheme in the State, it has developed an exclusive model of farm pond at a cost of Rs 25,000 per unit and all financial institutions such as commercial banks, regional rural banks, the AP State Cooperative Bank and primary urban cooperative banks would implement the scheme. As per the guidelines, 50 per cent of the cost of the unit/financial outlay would be met from the subsidy and the balance 50 per cent through bank loan. According to Nabard, the rate of interest on bank loan would not exceed the prime-lending rate (PLR) in the case of commercial banks. In case of regional rural banks and cooperative banks, it would not exceed that charged by the Convenor Bank of State Level Bankers' Committee - Andhra Bank.
More Stories on : Water | Agricultural Institutions | Andhra Pradesh
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