Pib

Pib

1. Ganga Gram Project to be launched at Swachhta Sammelan tomorrow

Ganga Gram vision is an integrated approach for holistic development of villages situated on the banks of River Ganga with active participation of the villagers. The objectives of Ganga Gram Project include solid and liquid waste management, renovation of ponds and water resources, water conservation projects, organic farming, horticulture, and promotion of medicinal plants.

An Advisory Board has been created as a policy framing and decision-making body under the chairmanship of Hon’ble Minister for Drinking Water and sanitation. Another Committee has been constituted as Project Committee for project supervision, implementation and co-ordination.

Ganga Swachhata Manch, a forum of individuals, academicians, civil society organisations and the like, which has been formed upon the initiative of Hon’ble Minister for Drinking Water and Sanitation will also be launched tomorrow. This Manch has been created for awareness creation, knowledge sharing, learning and advocacy for the Ganga Gram Project.

2. Vice-President of India Shri M. Venkaiah Naidu unveils plaques to mark the laying of the foundation stones of the International Exhibition-cum-Convention Centre (IECC) & Integrated Transit Corridor Development Project

Speaking on the occasion, the Vice President said that IECC at Pragati Maidan will be a state-of-the-art world class complex. He said that such a complex was long overdue at a central location in the capital city of Delhi. He further added that the IECC project will strengthen and diversify the roots of trade within India, while also giving a boost to India’s trade with different markets of the world.

The Vice President emphasised the need for such convention and exhibition facilities in other cities as well. Linking the initiative to Prime Minister’s slogan to Reform, Perform and Transform, he said it was aligned with the basic objectives of development and good governance.

3. Mobilization of funds for Infrastructure Development

Infrastructure projects are typically characterized by large financial outlays and long gestation period. While banks, have played a pivotal role in providing finance to infrastructure and supporting economic growth, bank financing of infrastructure is constrained by their inherent asset-liability mismatch. In addition, there is growing trend of stressed assets from this sector in bank balance sheets. Government has modified guidelines for advances to infrastructure sector including allowing banks to have flexible structuring and refinance of project loans, bringing in 5/25 Scheme to extend long tenor loans to infrastructure projects etc.

NITI Aayog's Three year Action Agenda (2017-18 to 2019-20) has also spelt out how infrastructure development is one of the most crucial elements of economic transformation. As per NITI Aayog, the revised projections for investment in infrastructure in the period 2012-17 are Rs. 38,22,822 crore which is 1.6 times the investment of Rs. 23,77,746 crore achieved in the period 2007-12 at current prices. The total allocation for infrastructure sector in Budget 2017-18 stands at Rs. 3,96,135 crores.

4. Agriculture Credit Made Easy

With a view to ensuring availability of agriculture credit, including loans taken against Kisan Credit Card (KCC), at a reasonable cost or at a reduced rate of 7% per annum to farmers, Government of India, had introduced an interest subvention scheme (2%) for short-term crop loans up to Rs. 3 lakh. 3% additional incentive is given for prompt repayment of loan reducing the cost to 4%. While earlier this subvention was available for a maximum period of one year, in order to discourage distress sale of crops by farmers, the benefit of interest subvention has been made available to small and marginal farmers having KCC for a further period of up to six months (post-harvest) at the same rate as available to crop loan against negotiable warehouse receipts issued on the produce stored in warehouses accredited with the Warehousing Development Regulatory Authority. Loans restructured on account of natural calamities are also available for the first year at the subvented rate of 7%.

National Bank for Agriculture and Rural Development (NABARD) raised market borrowing for short-term borrowings at prevailing market rate of interest for Rs. 17,881 crore and disbursed the same under refinance for on-lending to Cooperative Banks at 4.5% rate of interest during 2016-17.