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NCDC okays 5,000 cr loan for sheep-rearing scheme
The State government is all geared up for the launch of the flagship programme of sheep rearing as the National Co-operative Development Corporation (NCDC) had approved a loan of Rs 5,000 for a time period of two years to the TS Sheep and Goat Development Co-operative Federation.
Hyderabad: The State government is all geared up for the launch of the flagship programme of sheep rearing as the National Co-operative Development Corporation (NCDC) had approved a loan of Rs 5,000 for a time period of two years to the TS Sheep and Goat Development Co-operative Federation.
According to official sources, the State government which had estimated Rs 2,500 crore funds required for running the scheme had pursued the matter with the Central government and the Corporation during the past two-months. The NCDC, which had supported the Federation during the past three years with Rs 100 crore, had given the approval for the new flagship scheme of the government.
The Federation which had officially sought loan from NCDC will be receiving a ‘counter guarantee’ shortly from the State government. “The approval by the NCDC means that the government machinery would be in full swing, from the beginning of April, to make this scheme a success,” a senior official told The Hans India.
Following the assurance of financial backing, the officials feel that they would be dealing with technical problems only in the coming weeks. “The Corporation is being backed by a huge network of banks at the national level and hence it can extend help of the needed funds for Sheep-rearing scheme. NCDC can borrow money at 7 per cent interest rate from banks, while it would extend loans to States at 10 per cent rate interest rate”, the official said.
“In case the State government fails to return the credit on time, there is a provision for the Central government to deduct the amount from Union government funds to the State,” added the official. It may be mentioned here that the NCDC has earlier backed sheep rearing scheme at a smaller level.
A pilot project with Rs 64 crore in the drought affected Mahbubnagar district during 2012 had successfully achieved the objectives of helping sheep farmers during the implementation period of three years. Thousands of farmers were benefitted during the period. The State government which gauged the success of the scheme later considered extending the same to other districts of Telangana.
By Md Nizamuddin
