Andhra seeks special debt assistance from NABARD

Andhra Pradesh has sought special debt assistance from National Bank for Agriculture and Rural Development (NABARD) for public-private partnership projects in the agricultural sector in the state.

Chief Minister N. Chandrababu Naidu made the request when a team of NABARD officials led by NABARD Chairman H. K. Bhanwala met him here on Tuesday.

Stating that the state government is keen to give a big boost to micro-irrigation this year, Naidu sought funds for agriculture and allied activities.

The NABARD chief mentioned that the bank had given Rs.12,000 crore for Rural Infrastructure Development Fund (RIDF) last year but only 50 percent of the allotted funds were utilised and called for fullest utilisation of the funds for the next financial year.

He suggested that the government write a letter to the Reserve Bank of India (RBI) to seek additional funds of Rs.600 crore.

NABARD officials also met Telangana Chief Minister K. Chandrasekhar Rao. According to an official statement, NABARD has come forward to finance agriculture, agro related activities, social infrastructure, renewable energy, cooperative banks, besides Mission Kakatiya and drinking water supply projects.

The NABARD chief said out of 2,000 projects NABARD sanctioned in erstwhile Andhra Pradesh, 959 are in Telangana.

The chief minister explained about Mission Kakatiya aimed at revival of irrigation tanks. The NABARD agreed to fund the project.