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Bridging socio-economic and cultural fissures: A case study on critical infrastructure in rural Karnataka of India

Critical infrastructure entails assets essential for the survival of a society and economy.In the rural context, the most commonly associated with the term are facilities for electricity generation, transmission and distribution; transport and distribution; drinking water supply and sewerage; agricu...

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Main Author: Guglani, Rakesh
Format: Article
Language:English
Published: Othman Yeop Abdullah (OYA) Graduate School of Business, Universiti Utara Malaysia 2013
Subjects:
HC Economic History and Conditions
Online Access:http://repo.uum.edu.my/15825/1/7_IPBJ_Vol._5.pdf
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spelling my.uum.repo.158252016-04-20T02:08:03Z http://repo.uum.edu.my/15825/ Bridging socio-economic and cultural fissures: A case study on critical infrastructure in rural Karnataka of India Guglani, Rakesh HC Economic History and Conditions Critical infrastructure entails assets essential for the survival of a society and economy.In the rural context, the most commonly associated with the term are facilities for electricity generation, transmission and distribution; transport and distribution; drinking water supply and sewerage; agriculture, food production and distribution; public health; connectivity; financial services and social, cultural and traditional composure.This vision of critical infrastructure has impelled many a governments nationally as well as internationally to extend such facilities up to the grass-root level.With a view to support state governments, in this backdrop, Government of India, in FY1995, created the Rural Infrastructure Development Fund (RIDF) for completing incomplete rural projects in various sectors.It is anticipated that the fi nancial support provided under this Fund would accelerate the rate of capital formation, as also, add steadily to the fl ow of output and employment opportunities in the rural areas of the country. At the time of launching of RIDF, the State Governments were experiencing a severe resource crunch over the years on the one hand and the banks, particularly the commercial banks, on the other, we're unable to comply with the priority sector lending norms stipulated by the Reserve Bank of India. It was therefore realized in FY1995 that the shortfall in the priority sector norms be pooled in the forms of deposits for raising the Fund to support the incomplete infrastructure projects of various state governments.The corpus towards the fund was to be initially contributed by scheduled commercial banks, excluding foreign banks, to the extent of their shortfall against the targets in agricultural lending, subject to a ceiling of 1.5 per cent. However, from fifteen series on-wards, the allocation of Fund is being met out of shortfall from priority sector and /or agriculture and/or weaker section.Over the years, the corpus has increased from INR200 million in the first series to INR2000 million in eighteen series 2.Rural connectivity and minor irrigation sectors had a major share of investment from the Fund at all-India level.Furthermore, rural connectivity in general and construction of bridges in rural area in particular do have socio-economic implications, as also, environmental and ecological issues, in the daily life of the rural masses.This case study therefore invites the attention of all including the central governments in furthering the noble cause of developing the infrastructure for the rural masses. Othman Yeop Abdullah (OYA) Graduate School of Business, Universiti Utara Malaysia 2013 Article PeerReviewed application/pdf en http://repo.uum.edu.my/15825/1/7_IPBJ_Vol._5.pdf Guglani, Rakesh (2013) Bridging socio-economic and cultural fissures: A case study on critical infrastructure in rural Karnataka of India. International Postgraduate Business Journal, 5 (2). pp. 127-144. ISSN 2180-2459 http://oyagsb.uum.edu.my/index.php/ipbj-list-of-issue
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Institutionali Repository
url_provider http://repo.uum.edu.my/
language English
topic HC Economic History and Conditions
spellingShingle HC Economic History and Conditions
Guglani, Rakesh
Bridging socio-economic and cultural fissures: A case study on critical infrastructure in rural Karnataka of India
description Critical infrastructure entails assets essential for the survival of a society and economy.In the rural context, the most commonly associated with the term are facilities for electricity generation, transmission and distribution; transport and distribution; drinking water supply and sewerage; agriculture, food production and distribution; public health; connectivity; financial services and social, cultural and traditional composure.This vision of critical infrastructure has impelled many a governments nationally as well as internationally to extend such facilities up to the grass-root level.With a view to support state governments, in this backdrop, Government of India, in FY1995, created the Rural Infrastructure Development Fund (RIDF) for completing incomplete rural projects in various sectors.It is anticipated that the fi nancial support provided under this Fund would accelerate the rate of capital formation, as also, add steadily to the fl ow of output and employment opportunities in the rural areas of the country. At the time of launching of RIDF, the State Governments were experiencing a severe resource crunch over the years on the one hand and the banks, particularly the commercial banks, on the other, we're unable to comply with the priority sector lending norms stipulated by the Reserve Bank of India. It was therefore realized in FY1995 that the shortfall in the priority sector norms be pooled in the forms of deposits for raising the Fund to support the incomplete infrastructure projects of various state governments.The corpus towards the fund was to be initially contributed by scheduled commercial banks, excluding foreign banks, to the extent of their shortfall against the targets in agricultural lending, subject to a ceiling of 1.5 per cent. However, from fifteen series on-wards, the allocation of Fund is being met out of shortfall from priority sector and /or agriculture and/or weaker section.Over the years, the corpus has increased from INR200 million in the first series to INR2000 million in eighteen series 2.Rural connectivity and minor irrigation sectors had a major share of investment from the Fund at all-India level.Furthermore, rural connectivity in general and construction of bridges in rural area in particular do have socio-economic implications, as also, environmental and ecological issues, in the daily life of the rural masses.This case study therefore invites the attention of all including the central governments in furthering the noble cause of developing the infrastructure for the rural masses.
format Article
author Guglani, Rakesh
author_facet Guglani, Rakesh
author_sort Guglani, Rakesh
title Bridging socio-economic and cultural fissures: A case study on critical infrastructure in rural Karnataka of India
title_short Bridging socio-economic and cultural fissures: A case study on critical infrastructure in rural Karnataka of India
title_full Bridging socio-economic and cultural fissures: A case study on critical infrastructure in rural Karnataka of India
title_fullStr Bridging socio-economic and cultural fissures: A case study on critical infrastructure in rural Karnataka of India
title_full_unstemmed Bridging socio-economic and cultural fissures: A case study on critical infrastructure in rural Karnataka of India
title_sort bridging socio-economic and cultural fissures: a case study on critical infrastructure in rural karnataka of india
publisher Othman Yeop Abdullah (OYA) Graduate School of Business, Universiti Utara Malaysia
publishDate 2013
url http://repo.uum.edu.my/15825/1/7_IPBJ_Vol._5.pdf
http://repo.uum.edu.my/15825/
http://oyagsb.uum.edu.my/index.php/ipbj-list-of-issue
_version_ 1644281812233486336
score 13.211869

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