AHMEDABAD: The National Bank for Agriculture and Rural Development (Nabard) on Monday said it has sanctioned Rs 1,533.90 crore as loan for creation of critical infrastructure such as irrigation and construction of warehouses in Gujarat.
This includes a major irrigation project of the Kutch Branch Canal System for which Rs 1,407 crore has been sanctioned under the Rural Infrastructure Development Fund XIX (RIDF-XIX). The project, on completion, will provide irrigation facility to over 1.75 lakh hectares of cultivable command area in Kutch district.
The total balance cost of the project, to be implemented by the Sardar Sarovar Narada Nigam Ltd, a Gujarat Government undertaking, is Rs 3,094 crore, said M K Mudgal, Chief General Manager, NABARD.
With this, the total loan sanctioned under the fund to Gujarat aggregates to Rs 1,800 crore during 2013-14, the highest-ever sanctioned in a single tranche to the State Government. The cumulative sanction of loan assistance to Gujarat from RIDF-I to XIX has now increased to Rs 14,140.86 crore, against which Rs 10,552.88 crore has been utilised.
NABARD has also sanctioned RS 126.72 crore to the State Government for a maiden project under NABARD’s Warehousing Scheme for construction of 68 new warehouses and related infrastructure, to be implemented by Gujarat State Civil Supplies Corporation. On completion, it would create storage capacity of 1.23 lakh tonnes in rural and semi-urban areas of 21 districts of the State.