NABARD - A BOON FOR RURAL INDIA

There has been a particular trend in the way things work in India. Everything in this country is Politicized to an extent that the politicians are never able to come over and the common man. The bureaucracy has never been able to work out the way people want it. Corruption has always been on the High no matter what the issue is.

But amidst all this there did happen something that people welcomed with both their hands open, Its was set up of NABARD.

NABARD is set up as an apex Development Bank with a mandate for facilitating credit flow for promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts. It also has the mandate to support all other allied economic activities in rural areas, promote integrated and sustainable rural development and secure prosperity of rural areas.

With its effective overseeing and monitoring of the implementation of the Government of India's programme to double the flow of credit to agriculture over a three-year period from 2004-2005, the total disbursement of credit reached Rs 1,25,309 during 2004-2005. Ground level credit flow to agriculture and allied activities reached Rs 1,57,480 crore in 2005-2006.

As on 31 January 2007 through the Rural Infrastructure Development Fund (RIDF), Rs,59,795.35 crore have been sanctioned for 2,31,702 projects covering irrigation, rural roads and bridges, health and education, soil conservation, drinking water schemes, etc. Developing among hosts of other infrastructures, RIDF will create 20971 schools, 6239 primary health centres and provide drinking water supply in 7267 villages.

Watershed Development Fund , with cumulative sanctions of Rs.578.95 crore for 427 projects in 124 districts of 14 states, has created a People’s Movement in rural India.

Farmers now enjoy financial access and security through 582.50 lakh .Kisan Credit Cards that have been issued through a vast rural banking network.