NABARD assistance: Record utilisation of ₹800-cr funds for rural infra projects in Punjab: Minister

Punjab finance, planning, excise and taxation minister Harpal Singh Cheema on Thursday said the state has registered record utilisation of funds amounting to ₹800-crore in financial year 2022-23 for the ongoing Rural Infrastructure Development Projects assisted by National Bank for Agriculture and Rural Development (NABARD).

Chairing a meeting here to review the NABARD-assisted projects, Cheema lauded the role of the finance department and NABARD in smooth implementation. He thanked NABARD for sanctioning new projects worth ₹919-crore so far for the state of Punjab and urged NABARD team to enhance the allocation of the state for new projects for FY 2023-24 (RIDF-XXIX) to ₹1,500 crore in view of the good performance of the state.

Reviewing the progress of various ongoing projects funded by NABARD under Rural Infrastructure Development Fund (RIDF), the finance minister directed all the administrative departments to focus on optimum utilisation of the funds available from NABARD and accelerate the pace of execution of these projects aiming for maximum withdrawals and speedy completion.