- February 3, 2021
- Posted by: admin1
- Category: DPN Topics
Subject : Economy
Context : Finance Minister Nirmala Sitharaman announced an increase in the allocation to the Rural Infrastructure Development Fund (RIDF) from 30,000 crore to 40,000 crore.
- The Rural Infrastructure Development Fund(RIDF) was set up by the Government of India in 1995-96 for financing ongoing rural Infrastructure projects.
- The Fund is maintained by the National Bank for Agriculture and Rural Development(NABARD).
- The main objective of the Fund is to provide loans to State Governments and State-owned corporations to enable them to complete ongoing rural infrastructure projects.
- The activities to be financed under RIDF as classified under three broad categories namely a) Agriculture and related sector b) Social sector and c) Rural connectivity.