Chidambaram proposes Rs. 14,000 crore for rural infrastructure development

New Delhi, Feb 29 : In an attempt to bridge the chasm between the rural and urban areas, Union Finance Minister P Chidambaram on Friday proposed Rs. 14,000 crore for the Rural Infrastructure Development Fund (RIDF).

The RIDF is said to be the main instrument to channelize bank funds for financing rural infrastructure, and it is quite popular among State Governments.

The Finance Minister has also proposed to operate a separate window under the RIDF-XIV for rural roads with a corpus of Rs. 4,000 crore.

The completion ratio in the Golden Quadrilateral is 96.48 per cent and in the North South, East West Corridor project is 23.36 per cent.

ANI