NABARD extended over 15K cr financial support to Haryana in FY18

The National Bank for Agriculture and Rural Development (NABARD) extended financial support of Rs 15,787 crore for agriculture and rural development in Haryana during 2017-18.

The support was extended for providing financial assistance to farmers, rural artisans, creation of rural infrastructure and procurement of food grains in the state.

Refinance support of Rs 7,975 crore was provided to the banks in the state to meet short-term and long-term credit needs of farmers for carrying out crop production and capital formation in agriculture and rural economy, said an official release.

In addition, NABARD disbursed Rs 508.27 crore to the state government to develop rural infrastructure such as roads, bridges, drinking water schemes and irrigation schemes.

To enable the state government agencies in the procurement of food grains, NABARD sanctioned Rs 3,900 crore to HAFED and HSWC in the kharif and rabi marketing seasons of 2017-18.

NABARD also sanctioned a term loan of Rs 55 crore for establishing a mega food park at IMT Rohtak to HAFED.

It also sanctioned two watersheds in Panchkula district, 25 Farmer Producer Organisations (FPOs) and 51 Farmers Clubs across the state.

To promote start-ups in different areas of agriculture, NABARD sanctioned an Agri Business Incubation Centre at Chaudhary Charan Singh Haryana Agricultural University (CCSHAU), Hisar, Haryana with grant assistance of Rs 11.75 crore, the release said.