Punjab to seek Rs. 700 cr from NABARD for development projects.

The Punjab government said it will seek funds to the tune of Rs. 700 crore from NABARD for various development projects in the state.

Punjab Chief Minister Parkash Singh Badal gave nod to a comprehensive plan for seeking financial assistance from National Bank for Agriculture and Rural Development (NABARD) under RIDF XX for the year 2014-15.

Presiding over a meeting here, Badal impressed upon NABARD officials to sanction loans liberally for funding various development projects especially in the rural sector.

During the meeting, Badal was apprised of several developmental projects such as construction of field channels of Kotla Branch Phase-II system, Pradhan Mantri Gram Sadak Yojana (PMGSY), improvement, remodelling and rejuvenation of village ponds and disposal of sullage water.

The Chief Minister was also informed about the civil works of schools that would be undertaken with RIDF loans amounting to Rs 687 crore against total cost of Rs. 1,876.61 crore.

HBL