Telangana Chief Minister Requests NABARD Loans for Development Initiatives
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Synopsis
On March 21, Telangana CM A. Revanth Reddy urged NABARD to provide low-interest loans under RIDF for vital development projects. Key discussions included funding for micro-irrigation, strengthening cooperative societies, and supporting women’s self-help groups. The CM also suggested enhancing milling capacity and improving rural connectivity.
Key Takeaways
- Telangana CM A. Revanth Reddy seeks NABARD support.
- Emphasis on micro-irrigation for agricultural productivity.
- Strengthening cooperative societies is a priority.
- Special schemes for women’s self-help groups proposed.
- Need for better rural connectivity addressed.
Hyderabad, March 21 (NationPress) The Chief Minister of Telangana, A. Revanth Reddy, on Friday called upon the National Bank for Agriculture and Rural Development (NABARD) to extend loans at reduced interest rates under the Rural Infrastructure Development Fund (RIDF) to foster development projects within the state.
During this interaction, Revanth Reddy emphasized the necessity of securing funding for micro-irrigation, highlighting its critical role in boosting agricultural productivity in Telangana. This request was made during a meeting with NABARD Chairman Shaji K.V. at the state Secretariat.
They deliberated on significant initiatives aimed at enhancing rural infrastructure, cooperative societies, and financial assistance for various sectors throughout Telangana.
Recognizing the importance of cooperative societies in driving rural economic growth, the Chief Minister appealed for the strengthening of existing cooperatives and the establishment of new ones by NABARD.
Additionally, the discussions touched upon fortifying women’s self-help groups, with a request for NABARD to devise and implement a dedicated scheme for these groups.
To enhance the state's milling capacity, the CM suggested integrating NABARD’s schemes with IKP (Indira Kranthi Patham), warehouses, and rice mills. He underscored the need to utilize funds allocated under NABARD schemes by March 31 and urged for maximizing the application of these schemes in the upcoming financial year.
The Chief Minister also recommended linking the maintenance of solar plants assigned to women’s self-help groups with NABARD to ensure lasting sustainability. Furthermore, he called upon NABARD to support initiatives aimed at improving rural connectivity for new gram panchayats, thereby enhancing access to essential services in remote areas.
During this meeting, the NABARD Chairman proposed to the Chief Minister the establishment of District Cooperative Central Banks (DCCBs) in the newly formed districts to reinforce the cooperative banking sector.
Present at the meeting were Tandur MLA Manohar Reddy and representatives from NABARD.
