NABARD sanctions micro irrigation projects worth Rs 3,805 cr
The government has set a target of covering 100 lakh ha of area under micro irrigation in five years
The National Bank for Agriculture and Rural Development (NABARD) has sanctioned micro irrigation projects worth Rs 3,805.67 crore so far.
The projects have been sanctioned under the dedicated Rs 5,000 crore Micro Irrigation Fund (MIF) set up under NABARD in FY20 to facilitate states in mobilising resources for expanding coverage of micro irrigation.
The states will access MIF for incentivising micro irrigation through an additional (top up) subsidy over and above the one available under the Per Drop More Crop (PDMC) component of Pradhan Mantri Krishi Sinchayi Yojana (PMKSY) for achieving the target.
The states will also access the fund for innovative integrated projects, including projects in public private partnership (PPP) mode, depending on state specific requirements to bring additional area under micro irrigation PDMC.
The Steering Committee of MIF and NABARD have sanctioned projects of Rs 3,805.67 crore for covering 12.53 lakh ha under MIF.
The government has set a target of covering 100 lakh ha of area under micro irrigation in five years.
During the last five years, an area of 47.92 lakh ha has been covered under micro irrigation in the country which includes 11.72 lakh ha for FY20.