Thursday, March 2, 2017

NWDA gets funding

National Bank for Agriculture and Rural Development (NABARD) sanctioned Rs 19,702 crore loan to National Water Development Agency (NWDA) for 50 irrigation projects from 11 states which was announced during the Budget 2016-17 under Long Term Irrigation Fund (LTIF).
The loan funds for these irrigation projects will help to create additional irrigation potential of 39.14 lakh hectares in 11 States. Thus, it will support government’s vision to double the farmers’ income by 2022 as providing assured irrigation to farmers is one of the important prerequisites to achieve that target.
This loan will be part of the Central share of assistance to State Governments.
It will ensure front loading of resources so that the identified incomplete irrigation projects under Pradhan Mandtri Krishi Sinchai Yojna (PMKSY) are executed in time.
Loan released by NABARD to NWDA would be disbursed to the respective State Governments as Central Share in the projects sanctioned.

Worth reading