NABARD to fund for three delayed irrigation projects in UP

UNI | Published: 18th October 2018 02:46 PM
NABARD Logo. (NABARD website)

LUCKNOW: Uttar Pradesh government has identified three incomplete irrigation projects, Saryucanal, Aryun Sahayak and Madhya Ganga, requiring funding support from the Long-Term Irrigation Fund.

The projects will create irrigation potential in 16 lakh hectares in the state and NABARDhas accorded sanction for Rs 6431.34 crore to the UP government.

The fund is in addition to the support given by the Union Government.

ALSO READ | NABARD fund delay: No cash with coop banks for crop loan

Accordingly, to NABARD official statement here on Thursday, the bank has released Rs 375.20 crore to the state government as the first installment for implementing the Saryu canal and Aryun Sahayak irrigation projects.

On the completion of these three projects, a large number of farmers will be benefited and it will help in achieving the objective of doubling their income.

The Pradhan Mantri Krishi Sichai Yojana (PMKSY) was launched by the Union Government in 2015-16 with a view to ensuring protective irrigation for producing 'more crop per drop.

' Expanding the cultivable area under assured irrigation by providing 'Har khet ko pani' (water for every agricultural field) by achieving convergence of investments in irrigation at the field level is the key objective of this scheme.

As a part of the measures to achieve this objective, the Union Finance Minister announced the setting up of the Long Term Irrigation Fund (LTIF) with NABARD in the Union Budget 2016-17 which envisages to fast-track the completion of the 99 identified irrigation projects, spread across 18 states, in mission mode by December 2019.

ALSO READ | Karnataka seeks help from NABARD for fresh farm loans

Funding requirement for Rs 77,908 crore is estimated in order to complete these 99 identified projects which is to be borne both by the state and Central governments as per the agreed share and will be met out of the Long-Term Irrigation Fund (LTIF) of NABARD for augmenting the irrigation area by 79 lakh hectares.

Tags : NABARD Madhya Ganga

More from this section

Fate uncertain, socialist J-K governor Satya Pal Malik cushions as free man
ASEAN-India relationship has evolved significantly: Singapore Prime Minister
Urjit Patel met PM Modi on November 9 amid Centre vs RBI tensions: Report
'One nation, one poll' a good idea but not implementable at present: Bihar CM Nitish Kumar
Government officers gagged to reduce heat ahead of key RBI meeting