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Cabinet approves raising Rs 9,020 crore for Long Term Irrigation Fund
August 18 , 2017
2656 days
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- The National Bank for Agriculture and Rural Development (Nabard) has got the central government’s approval to raise extra budgetary resources of up to Rs 9,020 crore in FY18 through bonds. The additional funds will be used to fund 99 ongoing irrigation projects under the Pradhan Mantri Krishi Sinchayee Yojana.
- The Cabinet meeting, in which the decision was taken, was chaired by Prime Minister.
- A large number of major and medium irrigation projects taken up under the Accelerated Irrigation Benefits Programme will get this fund.
- The major objective of PMKSY is to achieve convergence of investments in irrigation at the field level, expand cultivable area under assured irrigation, improve on-farm water use efficiency to reduce wastage of water, enhance the adoption of precision-irrigation and other water saving technologies (More crop per drop), enhance recharge of aquifers and introduce sustainable water conservation practices by exploring the feasibility of reusing treated municipal waste water for peri-urban agriculture and attract greater private investment in precision irrigation system.
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