With the objective of assisting State Governments in the completion of ongoing rural infrastructure projects and to take up new infrastructure projects, the Rural Infrastructure Development Fund (RIDF) was set up with NABARD in 1995-96 with contributions from commercial banks by way of deposits. The shortfall in agri/priority sector lending was deposited by the commercial banks with NABARD as part of their contribution to the RIDF. The total corpus covering RIDF I (1995-96) to XVI (2010-11) was Rs.1,16,000 crore for State Governments and Rs.18500 crore for National Rural Roads Development Agency (NRRDA). Sanctions under all tranches of RIDF as on 31 March 2011 were Rs.140,388.40 crore against which the disbursements were Rs.98,999.75 crore. This includes sanction and disbursement of Rs.18,500 crore for NRRDA.
It is anticipated that the projects sanctioned upto 31 March 2011 under RIDF would result in:
• Creation of additional irrigation potential in 164.78 lakh ha.
• Addition of 3,30,855 km of rural road network & 6,67,306 meter bridge length
• Contribution to the GDP to the tune of Rs. 23811.00 crore
• Generation of recurring employment of 8540.45 lakh jobs and non-recurring employment of 26396.78 lakh man days due to increased irrigation
• Generation of non-recurring employment expected from non-irrigation projects: 55247.39 lakh person days