National Bank for Agriculture and Rural Development, NABARD, has sanctioned 500 crore rupees for Assam to carry out development works during the current financial year. NABARD Chairman Prakash Bakshi informed this to Assam Chief Minister Tarun Gogoi yesterday.

Official sources said in Guwahati that the money will be given under Rural Infrastructure Development Fund, RIDF.

The fund will be given under Rural Infrastructure Development Fund, RIDF .NABARD has also expressed satisfaction on the development that Assam has achieved under RIDF during last three years particularly in credit flow to rural areas.

The bank has also identified various areas where works are required to be carried out to boost up the rural infrastructure. Assam government will utilize the 500 crore rupees in rural road networks, cold storage and irrigations.

RIDF was instituted in NABARD with the sole objective of giving low cost fund support to state government and State owned corporations. A wide range of 31 activities of rural activities are being funded under RIDF