T.N. to capitalise on more funds for farming, rural development
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Allocation for RIDF elevated from ₹30,000 cr. to ₹40,000 cr. in Union Budget
Tamil Nadu hopes to make a lot of the improved allocation of funds within the Union Budget below a few schemes within the agriculture and rural development sectors.
In her Budget speech, Finance Minister Nirmala Sitharaman introduced a rise within the allocation to the Rural Infrastructure Development Fund (RIDF) from ₹30,000 crore to ₹40,000 crore, apart from doubling the corpus of the Micro Irrigation Fund (MIF) to ₹10,000 crore.
During the pre-budget consultations in mid-January, Deputy Chief Minister O. Panneerselvam, who holds the Finance portfolio, had known as for a rise within the allocation for a number of schemes, together with the RIDF.
According to the National Bank for Agriculture and Rural Development’s State Focus Paper 2021-22 for Tamil Nadu, village panchayat and panchayat union roads to a size of about 7,985 km and 317 bridges had been taken up within the final 9 years for development at a value of ₹2,251.32 crore below this scheme.
The State was sanctioned ₹2,400 crore throughout 2020-21, mentioned NABARD Chief General Manager S. Selvaraj.
As for the MIF aimed toward serving to the States mobilise the sources for increasing micro irrigation, Tamil Nadu was given about ₹1,358 crore throughout 2019-20, mentioned the NABARD doc, including that an space of about 4.76 lakh hectares was anticipated to profit.
During 2020-21, the State availed itself of round ₹950 crore. “It may draw ₹200 crore more by March-end,” Mr. Selvaraj mentioned.
