Business Daily from THE HINDU group of publications
Friday, Feb 20, 2009
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Business Daily from THE HINDU group of publications Friday, Feb 20, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Industry & Economy
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Rural Development States - Andhra Pradesh ‘AP tops in sanctions, but lags in utilising funds’
“The Government wanted to delete as many as 893 projects after they were sanctioned for one reason or the other.” — Mr Umesh Chandra Sarangi, Nabard Chairman 
Our Bureau Hyderabad, Feb. 19 Andhra Pradesh has emerged the top gainer in RIDF (Rural Infrastructure Development Fund) sanctions by the National Bank for Agriculture and Rural Development Board (Nabard) at Rs 10,835 crore. But it turned out to be the 14th State in the country when it comes to availing the sanctioned amount. It could avail itself of only Rs 6,856 crore, according to Mr Umesh Chandra Sarangi, Chairman of Nabard. Addressing a State credit plan seminar organised by Nabard with bankers and top government officials here on Wednesday, he said there were a large number of projects that were not yet grounded. “The Government wanted to delete as many as 893 projects after they were sanctioned for one reason or the other. The number included 261 (that) pertain to current year deletions,” he said. “Both these indicate that the projects were not prepared carefully and in a serious manner. It is important to select the implementable projects before even submitting the proposals for sanctions by Nabard,” he lamented. He, however, commended the State Government for achieving a 10.64 per cent growth in State GSDP in 2007-08 and an average 9 per cent growth in the last five years. “The per capita income of the State, which was traditionally low, has now caught up with the all-India average,” he said. He advised the State Government to develop the market yards on most modern lines. “We have prepared 36 detailed project reports,” he pointed out. More Stories on : Rural Development | Agricultural Institutions | Andhra Pradesh
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