Chief Minister Siddaramaiah meets PM Modi, urges him to restore NABARD lending to Karnataka
The HinduAs the National Bank for Agriculture and Rural Development has severely cut the short-term agricultural credit limit to Karnataka, Chief Minister Siddaramaiah called on Prime Minister Narendra Modi in the national capital on November 29, 2024, and sought his direction to the Union Finance Ministry to restore the credit limit to the State by NABARD in the current fiscal year. The reduced lending “will seriously impact the cost of finance for farmers, unless the State steps in to provide additional interest subvention which will severely impact our finance,” the Chief Minister said. Funds for Upper Bhadra Mr. Siddaramaiah requested Mr. Modi to provide ₹5,300 crore for the Upper Bhadra Project which was promised by the Finance Minister in the Union Budget of 2023-24. Noting a Cabinet note that has been moved to provide the assistance under the Accelerated Irrigation Benefit Programme, the chief minister said, “I would request you to give approval to this proposal at your earliest convenience, as the Upper Bhadra project provides irrigation to the parched farm-lands of central Karnataka”.