Post News Network
Bhubaneswar, Jan 23: Total expenditure under the Rural Infrastructure Development Fund (RIDF) stood at Rs 5.15 crore during the first nine months of this fiscal year ending December, 2015, a communiqué by the Department of Co-operation said. This amount of expenditure is meager 6.21 per cent of the total outlay under the RIDF scheme.
Department of Co-operation is entrusted with the responsibility of spending the RIDF fund to create warehouse facilities in the state. As per the department, a total of Rs 4.14 crore was spent during the last financial year under the scheme.
During this fiscal (FY16), an expenditure of Rs 4.43 crore was incurred during April- September period. This amount was around Rs 59.69 lakh in October, Rs 0.38 crore in November and Rs 11.71 crore in December, the letter said.
Rural Infrastructure Development Fund (RIDF) was instituted in NABARD (National Bank for Agriculture and Rural Development) with the sole objective of giving low cost fund support to state governments and state-owned corporations for creating various rural infrastructure projects. Projects like medium and minor irrigation, soil conservation, watershed management, warehouse construction among others are funded through this scheme. NABARD has sanctioned Rs 652.70 crore to the state under 21st tranche of RIDF for 2015-16.
