Role Of National Bank For Agriculture And Rural Development Nabard In Economic Development Of Madhya Pradesh

Abstract

Money has, ever since the dawn of civilization, played a vital role in the progress of socio economic development of human society. National Bank for Agriculture and Rural Development is a large monetary institution established by Government of India and the Reserve Bank of India. Since the dawn of human civilization, agriculture has been the basic means of survival. Human evolution has a close and constant relation with development of newlineagriculture. Agriculture forms the backbone of the Indian Economy. newlineIn our country, about 80% population depends on agriculture for its livelihood. Every sector of the economy agriculture, industry, trade, services, etc. all need finance both for carrying newlineon day to day activities and also for growth and progress. Hence for rapid agricultural progress, the need for apex bank for financing agriculture and rural development was felt. newlineThe concept of National Bank was suggested by the Committee to Review Arrangements for Institutional Credit for Agriculture and Rural Development (CRAFICARD). The committee recommended for the formation of the National Bank for Agriculture and Rural Development. Thus, NABARD came in to existence on July 12, 1982, in place of Agricultural Refinance and Development Corporation (ARDC). newlineThe study is divided into seven chapters. First chapter is introductory in nature which outlines designed economic development, the process of liberalization, occupational structure in rural India, agriculture in India, industrial sector of rural economy, rural development and five-year plans, rural development and poverty alleviation programme, strategy and programmes, rural development plans by the panchayat, development of agriculture co-operatives in India, need for co-operatives in rural development, role of co-operatives in agriculture and rural development, The Second chapter extensively deals with thorough review of exiting literature available on role and achievements of NABARD. The basic objective behind this is to get familiar with the Role of NABARD in Economic, Agr