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Delayed sanction of NABARD projects of Rs 380 cr wastes 1 yr 5/22/2018 11:50:45 PM Arun Singh Early Times Report Jammu, May 22: The non-serious attitude of the state government to expedite the process of submission for various developmental projects to National Bank for Agriculture and Rural Development (NABARD) has pushed back the development pace by one year. Around 128 projects under NABARD of Rs 380 crore for 2017-18, that is, for last year, were sanctioned this year in last week of March. "The delay in sanction of projects will now be executed next year which means the projects for 2018-19 will have serious impact on financial mobilization which is around 30% of the total amount," sources told Early Times. They said that with this delay NABARD budget will be decreased next year. Though state government had preponed the budget session with the main objective to give boost to development works, it proved useless as all the development process got slowed down with no benefit, said the sources. They said the delay by the Planning Department in submitting the projects and failure of the Financial Commission of state to take up the matter with NABARD for their early sanction has adversely affected their implementation on the ground. The funds provided by NABARD will be spent on various projects pertaining to rural development and other sectors as well and state government has to utilize it as per priorities on need basis, source said. They said the maximum share of funds is spent on road communication projects to improve the connectivity, especially in the hilly districts of the state. "But careless handling of this matter has exposed the tall claim of the present dispensation of carrying out comprehensive development across the state as the vital work like road connectivity are executed with the help of funds availed from the NABARD as a loan," the sources added.   Share This News with Your Friends on Social Network     Comment on this Story

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