Nabard’s aid of Rs 854 crore to Kerala for rural development

Kochi: The regional office of Nabard here has sanctioned an all-time high financial aid of Rs 854 crore to Kerala under various heads, aimed at making farming globally competitive and supporting livelihood opportunities in the rural non-farm sector in order to bring prosperity to rural areas.

The major lines of Nabard assistance included Rs 308 crore under investment credit, Rs 349 crore under short-term production credit to various banks and institutions and Rs 197 crore under RIDF assistance to the Kerala government.

During 2002-03, Nabard had launched the District Rural Industries Project (DRIP) in Kasargod district, with a total outlay of Rs 292.98 crore, which is expected to create additional employment opportunities for 25,796 people between 2003 and 2008.