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Sanctions under the Rural Infrastructure Development Fund-X, created in July, 2004 with a corpus of Rs. 8,000/- crore, have totalled Rs. 8,282.73 crore by 31st March, 2005, thereby exceeding the target amount. Sanctions for Agriculture and Allied activities constituted 43% while amount for Rural Connectivity and Social Sector was 37% and 20% respectively of the total amount.
Rural Infrastructure and Development Fund (RIDF) is created out of shortfalls in agriculture lending by commercial banks against their stipulated target of 18% of Net Bank Credit. The corpus of the Fund is utilized by NABARD by way of loans to State Governments for development of agriculture and rural infrastructure.
The first tranche of the fund was set up in 1995-96. The Finance Minister, Shri P. Chidambaram has proposed a corpus of Rs. 8,000 crore for RIDF in the Union Budget 2005-06 also.
BSC/BY/DN-182/05
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