Dhumal for lower interest rate on NABARD loans

Shimla: Himachal Pradesh Chief Minister Prem Kumar Dhumal today called for a cut in the interest rate on the National Bank for Agriculture and Rural Development (Nabard) loans saying high rates would hit rural projects in the state.

“I will be writing to the Prime Minister and the Finance Minister to consider the request of the state of lowering interest rate so that more funds are available for identified infrastructure development activities of Nabard,” an official statement quoted Dhumal as saying.

The chief minister said the issue had also been brought to the notice of the Planning Commission.

The state has been banking largely on the lender for carrying out infrastructure building projects.

On the newly introduced scheme NIDA (NABARD Infrastructure Development Assistance), Dhumal said the state would see how best it could avail funding under the scheme for warehousing and storage, dairy development, power sector, agriculture marketing and cold chain.

IANS

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