National Bank for Agriculture and Rural Development (Nabard) today agreed to provide financial backing worth Rs 1,000 crore to the Punjab government for various development schemes.The Nabard team led by chairman S P Thorat, after a meeting with the Chief Minister Prakash Singh Badal this morning, took the decision, an official release here said.Taking part in deliberations, Thorat said Nabard would provide Rs 533 crore during the current financial year besides clearing the backlog of Rs 420 crore for the previous one.Of the total investment, he approved Rs 123 crore for the upgradation of infrastructure in 246 schools for science, Rs 90 crore for the construction of rural roads, and Rs 80 crore for irrigation among other things.Thorat assured the CM that apart from the sanctioned funds, Nabard would keep a cushion of about Rs 70-80 crore to fund and finance other projects when it is needed, which are within the ambit of Nabard schemes under Rural Infrastructure Development Fund (RIDF) XIII.
