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as engines of economic development. They endeavor to accelerate the pace of economic growth in conformity with national objectives, plans and priorities. Scarce resources, demand for funds for all types of projects, need for judicious and rational allocation of resources; implies selectivity in financing projects. Appraisal helps in achieving this end. THERE ARE FIVE BROAD ASPECTS OF APPRAISAL 1. FINANCIAL FEASIBILITY 2. TECHNICAL FEASIBILITY 3. ECONOMIC FEASIBILITY 4. MANAGEMENT COMPETENCE 5. MARKET APPRAISAL