Context:
The National Bank for Agriculture and Rural Development (NABARD) has extended a financial assistance package of ₹5,830 crore to Jharkhand for the financial year 2024–25, aimed at accelerating rural infrastructure development and enhancing the state’s agricultural productivity.
Key Highlights of the Assistance
- ₹3,772 crore sanctioned under the Rural Infrastructure Development Fund (RIDF)
- ₹1,797 crore allocated under the Short-Term Refinance facility for cooperative banks and RRBs
- ₹261 crore extended through Long-Term Refinance for strengthening rural credit institutions
Sectors Covered
The support covers projects across key rural sectors:
- Irrigation and watershed development
- Drinking water and sanitation
- Rural roads and bridges
- Health and education infrastructure
- Godowns and storage infrastructure
NABARD’s Broader Impact in Jharkhand
- Since inception, NABARD has sanctioned ₹20,000 crore+ under RIDF to the state
- Helped create 10.3 lakh hectares of irrigation potential
- Constructed 70,000+ km of rural roads and over 3,100 bridges
- Facilitated 5,000 rural drinking water supply projects
- Benefitted 2.45 crore rural people, improving connectivity, health, and access to basic services
Focus on Livelihoods and Rural Empowerment
NABARD is also:
- Supporting livelihood and income-generating activities through the Self Help Group–Bank Linkage Programme
- Promoting Farmer Producer Organizations (FPOs) and climate-resilient agriculture
- Implementing the JIVA programme for rejuvenating natural resources and sustainable farming
- Digitizing rural financing through eShakti (SHG digitization) and infrastructure for PACS and cooperative banks
Vision for FY25
NABARD aims to:
- Enhance agriculture value chains
- Boost climate-resilient infrastructure
- Promote financial inclusion across Jharkhand’s rural belts
- Collaborate with the state government to align rural infrastructure with sustainable development goals (SDGs)
