Financial Daily from THE HINDU group of publications
Thursday, Sep 05, 2002
Financial Daily from THE HINDU group of publications Thursday, Sep 05, 2002 |
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Agri-Biz & Commodities
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Agricultural Institutions Nabard releases Rs 5-cr subsidy for W. Bengal Our Bureau
KOLKATA, Sept. 4 IN the first fortnight of August this year, the National Bank for Agriculture and Rural Development (Nabard) released for West Bengal an advance subsidy of Rs 5.05 crore under the On Farm Water Management (OFWM) scheme. The amount, constituting nearly 50 per cent of Nabard's total commitment of Rs 10.13 crore under the scheme for the whole year (2002-03) for the State, has been released through 13 commercial banks, four regional rural banks and various branches of the West Bengal State Co-operative Bank and the West Bengal State Co-operative Agriculture & Rural Development Bank. The scheme, in force in 10 districts in the State, namely, Coochbehar, Jalpaiguri, North Dinajpur, South Dinajpur, Malda, Purulia, Bankura, Birbhum, Midnapore East and Midnapore West, is available to individual farmers as well as group of farmers, particularly small and marginal farmers. Those in the SC/ST categories would get preference. A 30 per cent subsidy on the project cost is provided with a two-year lock-in period. The subsidy is available for construction of shallow tubewells with pumpsets, dugwell, lift irrigation point, and energy (oil and electricity) driven pumpsets. The margin money is a minimum of 20 per cent of the project cost while 50 per cent of the project cost is to be provided as loan by the bank through which the subsidy is to be routed. The bank is eligible for Nabard refinance. It might be noted that the Union Government has entrusted Nabard with the responsibility of implementing the OFWM scheme in West Bengal with a view to tapping the huge potentials of ground water resources in a planned manner for achieving a sustained growth in agricultural production, higher per unit yield and per capita income of farmers of the State. Nabard prepared the OFWM scheme for the State, envisaging installation of 498 dugwells, 1,835 shallow tubewells, 5,162 lift irrigation points and 5,802 pumpsets. The total outlay was estimated at Rs 33.78 crore, 30 per cent of which amounting to Rs 10.13 crore is to be provided as subsidy by Nabard in 2002-03.
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