U'khand to take Rs 500 cr loan from NABARD for rural roads

Uttarakhand Chief Minister Harish Rawat today directed officials to prepare a proposal for obtaining a loan of Rs 500 crore from NABARD for building rural roads and requisition of another credit for drinking water supply schemes.
Rawat's order came after the bank's Chief Managing Director D N Magar paid him a courtesy visit, an official release said.
Noting that the state government looks upon National Bank for Agriculture and Rural Development (NABARD) as a "partner in development", he saidthey can work together for construction and conservation of water reservoirs and tree plantation to combat the effects of climate change.
The effects of climate change can be seen in the scale of damage caused by forest fires in Uttarakhand this year as in the rest of the world, he said, adding to minimise the effects of forest fire, agriculture in hill areas needs a boost and water reservoirs need to be built on a much larger scale.

Rawat "acknowledged that NABARD has always lent a helping hand to Uttarakhand's development endeavours" and hoped that the bank will continue to do so in future, the release stated.