Rural infrastructure fund increased to Rs.140 billionFebruary 16th, 2009 - 3:51 pm ICT by IANS
New Delhi, Feb 16 (IANS) The corpus of the Rural Infrastructure Development Fund (RIDF) was increased to Rs.140 billion (Rs.14,000 crore) in 2008-09 from Rs.55 billion in 2003-04, acting finance minister Pranab Mukherjee said here Monday.
Presenting the interim budget for 2009-10 in the Lok Sabha, Mukherjee said a separate window for rural roads was created under the RIDF with a corpus of Rs.40 billion for each of the last three years.
The RIDF is the main instrument of the government to channelise bank funds for financing rural infrastructure development programmes.
The minister added that the government has already constructed 6.01 million houses under the Indira Awaas Yojana between 2005-06 and December 2008 against the target of 6 million houses by 2008-09.