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World Bank Document Document of The World Bank FILE COPY FOR OFFICIAL USE ONLY Public Disclosure Authorized Report No.2 684 PROJECT PERFORMANCE AUDIT REPORT Public Disclosure Authorized INDIA: PUNJAB AND HARYANA AGRICULTURAL CREDIT PROJECTS (Credits 203 and 249-IN) Public Disclosure Authorized October 5, 1979 Public Disclosure Authorized Operations Evaluation Department This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank authorization. CURRENCY CONVERSIONS At Appraisal: US$1 = Rs 7.50 At Completion: US$1 = Rs 9.00 ABBREVIATIONS ACP - Agricultural Credit Project AIC - Agro-Industries Corporation ARDC - Agricultural Refinance and Development Corporation GATT - General Agreement on Tariffs and Trade GOH - Government of Haryana GOI - Government of India GOP - Government of Punjab HACP - Haryana Agricultural Credit Project HAFED - Haryana State Cooperative Agricultural Marketing Federation HAIC - Haryana Agro-Industries Corporation HSCB - Haryana State Cooperative Bank HSCLDB - Haryana State Cooperative Land Development Bank (includes PLDB) HSMB - Haryana State Marketing Board HSMITC - Haryana State Minor Irrigation Tubewell Corporation PACP - Punjab Agricultural Credit Project PAIC - Punjab Agro-Industries Corporation PAU - Punjab Agricultural University PCB - Participating Commercial Bank PCR - Project Completion Report PLDB - Primary Land Development Bank PPAR - Project Performance Audit Report PSCLMB - Punjab State Cooperative Land Mortgage Bank (includes PLDB) REC - Rural Electrification Corporation SOC - Soil Conservation Organization of the Haryana Department of Agriculture SLDB - State Land Development Bank FISCAL YEAR ARDC and Cooperative Year - July 1 to June 30 GOI - April 1 to March 31 FOR OFFICIAL USE ONLY Project Performance Audit Report INDIA: PUNJAB AND HARYANA AGRICULTURAL CREDIT PROJECTS (Credits 203 and 249-IN) TABLE OF CONTENTS Page Preface i Basic Data Sheet ii Disbursements iii Highlights iv PROJECT PERFORMANCE AUDIT MEMORANDUM I. Project Summary 1 II. Main Issues 3 A. Mechanization: Procurement, Role of Agro-Industries Corporations, Benefits from Tractorization, Employment Effects, GOI Mechanization Policy, Small Farmers, Downpayment and Repayment, Tractor Power Required, Inconsistencies in Number of Units Procured, and Replacement of Tractors. B. Minor Irrigation 10 C. Credit Aspects 11 D. Conclusions 12 Appendix 1 Government of India's Comments 13 Appendix 2 ARDC's Comments 18 JOINT PROJECT COMPLETION REPORT I. Introduction 19 II. Project Implementation 24 III. Financing Institutions 31 IV. Supporting Services 33 V. Economic Impact 35 VI. Conclusions and Recommendations 39 Supplement by IDA's Regional Office ANNEXES 1. Key Implementation Data 2. The Lending Institutions 3. Supporting Services 4. Financial Costs and Benefits 5. The Economics of Tractors in the Indian Subcontinent - An Analytical Review Map This document has a restricted distribution and may be used by recipients only in the performance of their omcial duties. Its contents may not otherwise be disclosed without World Bank authorization. Project Performance Audit Report INDIA: PUNJAB AND HARYANA AGRICULTURAL CREDIT PROJECTS (Credits 203 and 249-IN) PREFACE This is a performance audit of two projects in India: the Punjab Agricultural Credit Project (PACP) for which Credit 203-IN was approved in June 1970 in the sum of US$27.5 million and the final disburse- ment made in July 1977; and the Haryana Agricultural Credit Project (HACP) for which Credit 249-IN was approved in June 1971 in the sum of US$25.0 million and the final disbursement made in January 1977. Both credits were closed in June 1977. The audit report consists of an audit memorandum prepared by the Operations Evaluation Department, and a project completion report (PCR), dated January 15, 1979. The PCR was prepared by the Agricultural Re- finance and Development Corporation (ARDC), the financial intermediary for the projects, and reviewed and supplemented by the Bank's South Asia Regional Office on the basis of a country visit in August, 1978. An OED mission visited India in February and March 1979. The mission held discusions with officials of the Government of India, the governments of the states concerned, ARDC, the state land development banks (SLDBs), the main participating commercial banks (PCBs) and other relevant state government agencies, particularly the Haryana Groundwater Cell and the agro-industries corporations in charge of tractor procure- ment in both states. The mission also visited some primary land develop- ment banks (PLDBs), machinery workshops and several participating farmers. Comments of the officials interviewed are fully reflected in the report and are gratefully acknowledged. The information obtained during that mission was used to test the validity of the conclusions of the PCR and permitted discussion of aspects not covered by the PCR. The audit memorandum is based on these discussions, on inter- views with Bank staff associated with the projects, and on a review of the PCR, the President's reports No. P-826 (May 26, 1970) and P-941 (May 17, 1971), the appraisal reports No. PA-48a (May 27, 1970) and PA-80a (May 13, 1971), the credit agreements dated June 24, 1970 and June 11, 1971, and correspondence with the Borrower and internal Bank memoranda on project issues as contained in the Bank's files. A copy of the draft report was sent to the Borrower. The comments received have been taken into account and are also reproduced in appendixes 1 and 2. The audit finds the PCR comprehensive and accurate with respect to the project's principal achievements and shortcomings. The points discussed by the audit mission have been selected because of their rele- vance to this and other projects in India. The valuable assistance provided by the Government of India, the state governments, the different institutions concerned with the projects, particularly ARDC, and the farmers visited, is gratefully acknowledged. - ii - Project Performance Audit Report INDIA: PUNJAB AND HARYANA AGRICULTURAL CREDIT PROJECTS (Credits 203 and 249-IN) BASIC DATA SHEET KEY PROJECT DATA Punjab ACP Haryana ACP Appraisal Actual or Appraisal Actual or Item Item Expectation Current Estimate Expectation Current Estimate Total Project Cost (US$ million) 40.0 42.7 44.5 53.0 Credit Amount (US$ million) Disbursed (US$ million) 27.5 27.5 25.0 25.51/ Cancelled (US$ million) 0.0 0.0 Outstanding (US$ million) 27.5 25.5 Date Physical Components Completed 12/72 12/76 12/74 7/76 Proportion of Time Overrun(%) 200 66 Economic Rate of Return C%) Tractors 14 Over 50 15 Over 50 Minor Irrigation 22-27 Over 50 OTHER PROJECT DATA Punjab ACP Haryana ACP Original Actual or Original Actual or Item Plan Revisions Current Estimate Plan Revisions Current Estimate First Mention in Files or Timetable 1968 1968 Government's Application 1969 1970 Negotiations 5/70 5/71 Board Approval 06/11/70 06/01/71 Credit Agreement Date 06/24/70 06/11/71 Credit Effectiveness Date 08/31/70 09/15/70 09/04/70 09/30/71 11/02/71 Credit Closing Date 12/31/72 12/31/73 06/30/77 03/31/75 03/31/76 06/30/77 12/31/74 01/31/77 12/31/75 Final Disbursement Date 07/77 01/77 Borrower India Executing Agency Government of India Fiscal Year of Borrower April 1 - March 31 Follow-on Projects None MISSION DATA Date Man/Weeks in Field Date Man/weeks in Field Identification (field) 11, 12/68 11, 12/68 (FAO/IBRD) Preparation (GOI) 1969 69/70 Appraisal (field) 11, 12/69 11/70 Supervision 1 10/70 3 09/71 1 Supervision 2 09/71 1 03/72 3 Supervision 3 03/72 2 10/72 5 Supervision 4 08/73 2 08/73 1 Supervision 5 10/74 1 10/74 1 Supervision 6 10/75 1 10/75 2 10 13 (PCR review: August 1978 (2m/weeks) 1/ Exchange adjustment of US$0.5 m. - iii - Project Performance Audit Report INDIA: PUNJAB AND HARYANA AGRICULTURAL CREDIT PROJECTS (Credits 203 and 249-IN) DISBURSEMENTS (Cumulative, US$ M) IDA Semester Ending Punjab ACP Haryana ACP Appraisal Actual % Appraisal Actual % Estimatel/ Estimate June 30, 1971 4.0 December 31, 1971 9.0 0.8 June 30, 1972 16.5 2.4 0.5 21 December 31, 1972 25.0 4.4 1.6 36 June 30, 1973 27.5 7.7 5.0 65 December 31, 1973 0.2 - 12.2 5.8 48 June 30, 1974 0.5 - 17.0 9.2 54 December 31, 1974 1.8 - 21.8 10.1 46 June 30, 1975 2.4 - 25.0./ 12.6 50 December 31, 1975 2.9 - 15.9 - June 30, 1976 14.1 - 20.8 - December 31, 1976 16.8 - 25.3 - June 30, 1977 25.0 - 25.51/ - December 31, 1977 27.5 - Final Disbursement Date July 77 January 1977 1/ Derived from Appraisal Report: Project Cost Estimates. 2/ At March 31 it stood at 24.3 (last figure given in Appraisal Report). 3/ Exchange adjustment of US$ 0.5 million. Project Performance Audit Report INDIA: PUNJAB AND HARYANA AGRICULTURAL CREDIT PROJECTS (Credits 203 and 249-IN) HIGHLIGHTS The projects were intended to increase agricultural production through higher cropping intensity and higher yields, through farm loans for mechanization and minor irrigation. Procurement problems in the farm mechanization components created substantial delays in the implementation of both projects; the irrigation component of the Haryana project was implemented smoothly. The number of tractors provided was 12,600, against 14,000 expected at apprai- sal; harvesters 63 against 360 expected; shallow tubewells 36,000 against 11,000 expected; and sprinkler irrigation sets 0 against 75 expected. The Agricultural Refinance and Development Corporation played a prominent role in project implementation. The loan recovery position of onlending banks, unlike in several other states in India, was very good. The economic rates of return of the projects are expected to exceed 50% against 14% to 27% expected at appraisal.
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