Current Affairs - Economy - Discussion

As part of the drive to double the income of farmers by 2022, the government has raised the authorized capital of NABARD by six times from 50 billion to Rs 300 billion to help it increase its lending to the rural economy. A bill in this regard was approved by Parliament earlier this year. The increase in authorized capital will enable Nabard to respond to commitments it has undertaken particularly in respect of the Long Term Irrigation Fund and on-lending to cooperative banks.