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With reference to the agriculture sector of India, consider the following statements
1. Rural infrastructure Development Fund disperses loans to the states to complete the minor irrigation projects.
2. Rural infrastructure Development Fund is managed by the public sector Commercial Banks.
Which of the statements given above is/are correct?
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- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2.
Correct Option: A
Rural Infrastructure Development Fund (RIDF) was instituted in the NABARD with an announcement in the Union Budget 1956-96 with the sole objective of giving low cost fund support to State governments and state owned corporations for quick completion of ongoing projects relating to medium and minor irrigation, soil conservation, watershed management and other forms of rural infrastructure.
