Explanation: The National Bank for Agriculture and Rural Development (NABARD) is a financial institution in India that plays a crucial role in providing and facilitating credit for the promotion and development of agriculture, rural industry, cottage and village industries, and other rural sectors. In the aftermath of natural disasters, NABARD often provides financial aid to help affected regions recover and rebuild.
Cyclone Amphan, which struck West Bengal in May 2020, caused extensive damage to infrastructure, homes, and agricultural land. The cyclone was one of the most powerful to hit the region in decades, leading to significant economic and social disruption. In response to the devastation, NABARD sanctioned a substantial fund to aid in the reconstruction efforts.
The specific amount sanctioned by NABARD for the reconstruction of infrastructure damaged by Cyclone Amphan in West Bengal was Rs 795 crore. This financial aid was crucial in supporting the rebuilding of homes, roads, bridges, and other critical infrastructure that was damaged or destroyed by the cyclone. The funds were allocated to ensure that the affected communities could recover and resume their normal lives as quickly as possible.
It is important to note that the amount of Rs 795 crore was specifically designated for infrastructure reconstruction. This includes the rebuilding of public buildings, roads, bridges, and other essential facilities that were damaged by the cyclone. The funds were not intended for other forms of aid, such as immediate relief or compensation for personal losses.
Understanding the role of NABARD in providing financial aid for disaster recovery is essential for students studying West Bengal General Knowledge (GK). This knowledge helps in comprehending the mechanisms through which the state and national governments support affected regions in the aftermath of natural disasters. It also highlights the importance of financial institutions like NABARD in facilitating the recovery and development of rural and agricultural sectors, which are often the most vulnerable to the impacts of natural disasters.
In conclusion, the correct amount sanctioned by NABARD for the reconstruction of infrastructure damaged by Cyclone Amphan in West Bengal is Rs 795 crore. This financial aid was a critical component of the overall recovery efforts and underscores the role of financial institutions in supporting disaster-stricken regions.