Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
LATEST NEWS UPDATES | NABARD allocates Rs 2,000 crore for foodgrain storage warehouses

NABARD allocates Rs 2,000 crore for foodgrain storage warehouses

Share this article Share this article
published Published on Dec 20, 2011   modified Modified on Dec 20, 2011

-PTI

 

National Bank for Agriculture and Rural Development (NABARD) today said it has earmarked Rs 2,000 crore for building warehouses which will help in facilitating distribution of foodgrain to poor under the proposed Food Security Act.

"Under RIDF ( Rural Infrastructure Development Fund), we have proposed to provide funds to the tune of Rs 2,000 crore exclusively for construction of scientific godowns across the country in this fiscal," NABARD Executive Director S K Mitra told reporters here today.

Besides, NABARD has also decided to even finance private entrepreneurs for the first time through banks for the setting up of 'climatic-controlled' godowns and has even offered concession of 1.5 per cent in the rate of interest if prompt payment is done by them.

"It will be for the first time that the funds will be provided to private entrepreneurs for setting up warehouses under RIDF to meet future requirements of storing food grain," he said.

NABARD will provide funds to banks including commercial banks at the rate of 8 per cent instead of 10.5 per cent at present so as to make money available to private entrepreneurs for construction of godowns.

"If a private entrepreneur maintains financial discipline and makes prompt payment (to banks) then he will be able to get concession in lending rates by 1.5 per cent," he said.

NABARD has already sought expression of interest from private players to avail loan facilities for setting up warehouse infrastructure.

He emphasised that there was a requirement to build scientific storage capacities in order to store food grain in the light of proposed implementation of Food Security Act in the country.

Under Food Security Bill, government proposes to provide rice at Rs 3 per kg and wheat at Rs 2 per kg to people below BPL. Even states like Punjab had demanded from the Centre to augment scientific storage capacities for storing foodgrain in a bid to implement Food Security Bill.

NABARD said the earmarked funds for warehouses could also be used by state governments to build sufficient storage capacities through state warehousing corporations.

He informed that states like Tamil Nadu and Bihar have come up to avail funds through RIDF for setting up of warehouses.

The Economic Times, 20 December, 2011, http://economictimes.indiatimes.com/news/economy/infrastructure/nabard-allocates-rs-2000-crore-for-foodgrain-storage-warehouses/articleshow/11182005.cms


Related Articles

 

Write Comments

Your email address will not be published. Required fields are marked *

*

Video Archives

Archives

share on Facebook
Twitter
RSS
Feedback
Read Later

Contact Form

Please enter security code
      Close