Today: Jun 25, 2024

CS takes stock of funding, pace of projects under NABARD

1 min read

JAMMU: Chief Secretary, Dr Arun Kumar Mehta, chaired a meeting to review the performance achieved under NABARD-funded projects in Jammu and Kashmir.

Principal Secretary, Jal Shakti; Principal Secretary, PWD; DG Budget; Director Finance, CGM NABARD; DGM NABARD; and representatives from Animal Husbandry and Agriculture Departments were present in the meeting.

On the occasion, Dr Mehta asked the departments to ensure full utilization of the entire amount of Rs 1500 Cr by the end of this fiscal to create durable assets of public utility. He enquired about the utilization certificates and work done claims submitted so far from the concerned departments.

The Chief Secretary enjoined upon them to formulate plans to address gaps within a week. He urged them to prioritize the projects to be taken up under this budgetary component where other sources of funding are not available. He called for the identification of works strictly as per demand so that maximum expenditure is fruitful.

Dr Mehta underscored the need for making performance as the only benchmark for assessment. He also directed to enhance coordination between the indenting department, intermediary (Finance Department), and funding agency to improve the performance on the ground.

The Chief Secretary maintained that there are enough resources to meet the genuine demands of the public. He asked the officers to make a proper procedure to fund any new project on the basis of the well-laid-out algorithm. He also advised them to look into fulfilling the demands made under Aspirational Panchayat or Aspirational Towns under NABARD. He told the Finance Department to look for other borrowing options like RBI etc for swift and timely funding.

It was given out that the normative allocation of Rs 1500 crore for the current fiscal stands sanctioned for J&K to complete projects of rural infrastructure. These include rural roads and bridges, water supply schemes, and projects of Agriculture and Animal Husbandry. The meeting was further apprised that projects worth hundreds of crores have already been sent for sanctioning to NABARD.

 

The meeting also discussed ways to enhance the capacity of departments to utilize whole sanctioned amounts efficiently. It was said that once these projects are completed it would usher the union territory on the path of progress and development as envisioned by the LG administration.

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