PM asks Nabard to aid rural plans

  • 18/10/2005

  • Asian Age (New Delhi)

Prime minister Manmohan Singh has asked the Union finance ministry to direct the National Bank for Agriculture and Rural Development (Nabard) to create a separate financing window to "bridge the funding gap" in the rural roads and irrigation works components of Bharat Nirman. Bharat Nirman is a time-bound business plan for four years for rural infrastructure covering roads, electrification, water supply, irrigation, housing and telephone connectivity. While nearly Rs 30,000 crores will be available for Bharat Nirman from internal revenue mobilisation and external assistance, a funding gap of Rs 4,000 crores per annum remains to be bridged. This will be done by Nabard, the government has decided. The Prime Minister has also directed that the entire information pertaining to the Bharat Nirman programme should be accountable.