J&K gets Rs 459 cr from Nabard for road projects

The National Bank for Agriculture and Rural Development (Nabard) is funding 119 road and bridges besides 22 water supply schemes in Jammu and Kashmir.

The bank has sanctioned Rs 459 crore from its Rural Infrastructure Development Fund to the state government for infrastructure building.

Out of the total 112 road projects in the state, 55 are being constructed in Kashmir, while the rest are in the Jammu region. Seven medium and large bridges are also coming up this year with Nabard funding.

Nabard (J&K) Deputy General Manager Munish told Business Standard that the bank had sanctioned cumulative funds of Rs 1,105 crore to J&K. In 2005-06, it had approved funds worth Rs 380 crore for the state.

He said though Nabard provided funds for various projects pertaining to rural development and other sectors as well, the priorities were set by state governments on need basis.

J&K has spent the maximum of the funds on road communication projects in the last five years, to improve the connectivity, especially in the hilly areas of Doda, Rajouri, Udhampur, Kupwara, Anantnag and Ladakh.

Unlike World Bank or any other funding agency, Nabard had no role in setting the priority area for the states, the DGM said.

He said out of the total funding worth Rs 10,000 crore for the entire country, J&K's share is Rs 459 crore, an increase of nearly 20 per cent over last year's figures.