National Bank for Agricultural and Rural Development (NABARD) the apex development financial institution, has been endeavoring since its inception on July 12, 1982 to contribute significantly to the cause of agriculture and rural development as an active partner of the State Government, Banking System and Non – Government Organization / Voluntary Organizations.
In Nagaland, cumulatively NABARD has sanctioned 485 infrastructure projects pertaining to various sectors with its commitment at Rs. 44146 lakh with aggregate sanctions for 2008-09 amounting to Rs. 23972 lakh. These include 7 hydro electricity projects with potentials for production of 31 Mega Watt of electricity with NABARD’s commitment at as high as Rs. 22962 lakh.
Nagaland being a power deficit state, the assistance will bring great relief to the statein terms of saving in payment of tariff towards purchase of power. It has made cumulative disbursement of Rs. 19785 lakh to state government against the above sanctions. In 2008-09 alone it has disbursed Rs. 5718 lakh to State Govt. It has provided refinance to the banks to the extent of Rs. 295 lakh in 2008-09. The refinance norms for North Eastern States are relaxed in terms of liberal eligibility criteria, concessional interest rate and higher quantum of refinance i.e. 100% of the disbursement.
Revival Package by Co-operative institutions in terms of Vaidyanathan Committee’s recommendations is in the process of implementation. Once the package is implemented, cooperative institutions are expected to emerge stronger than ever to serve the interest of the people of Nagaland.
In 2008-09 NABARD has sanctioned two livelihood based projects from Tribal Development Fund - one each in Peren and Tuensang with its commitment of assistance at Rs.313.02 lakh which would benefit 1050 tribal families directly. Two Innovative projects - one on Naga Chili and another on Beekeeping Project with assistance of Rs. 31.46 lakh have been sanctioned. One Intensive Cluster Development Programme on food Processing and one participatory cluster development project on beekeeping with NABARD’s commitment at Rs. 112.65 lakh have also been sanctioned.
Improvement of two Rural Market projects with NABARD assistance at Rs.10.00 lakh was sanctioned during the year2008-09.
A press release issued by Deputy General Manager Officer-in-Charge K. C. Panda informed that NABARD in 2008-09 had supported as many as 44 programmes with grant assistance of Rs.10.69 lakh. As the initiatives that emanate from people result in sustainable outcome, NABARD facilitated launching of 10 Farmer’s in the state in 2008-09.
It has extended Revolving Fund Assistance (RFA) to one NGO two times - Rs. 4.00 lakh on first occasion and Rs. 10.00 lakh on second occasion. The release also added that NABARD was looking forward to upscale the SHG programme and looking for suitable project proposals for NGOs in the days ahead.
NABARD has been undertaking preparation of Potential Linked Credit Plan and had completed the same exercise for all 11 districts and had projected a sum of Rs. 210.31 crore as credit outlay for the year 2009-10.