Increase in allocation to the Rural Infrastructure Development Fund (RIDF) to Rs 40,000 crore and doubling of Micro Irrigation Fund announced in the Budget will accelerate the progress of ongoing rural infrastructure projects, Nabard chairman G R Chintala said on Tuesday in an interview to CNBC-TV18.

While presenting the Budget 2021-22, Finance Minister Nirmala Sitharaman said, "We are enhancing the allocation to the Rural Infrastructure Development Fund from Rs 30,000 crore to Rs 40,000 crore."

“We requested for a hike in the amount and the government of India was gracious enough to accept it and this time they gave Rs 40,000 crore. We are extremely upbeat in the days to come the infrastructure that is going to be created of this rural infrastructure development fund is going to accentuate the agricultural production and productivity in a much better way,” he added.

For the full interview, watch the video

(Edited by : Abhishek Jha)

First Published:Feb 2, 2021 3:15 PM IST