FM: Investment in irrigation projects essential to double the farmers income by 2022; NABARD sanctions loan worth Rs. 19,702 crore to National Water Development Agency (NWDA) for 50 irrigation projects from 11 States under Long Term Irrigation Fund (LTIF)]
The Union Finance and Corporate Affairs Minister Shri Arun Jaitley said that investment in irrigation projects essential to double the farmers income by 2022. He said that loan of Rs 19,702 crore to National Water Development Agency (NWDA) for irrigation projects by NABARD, is a part of the vision of the Prime Minister Shri Narendra Modi to double the farmers’ income by 2022. Shri Jaitley said that providing assured irrigation to farmers is one of the important prerequisites to achieve that target. TheFinance Minister said that this loan would be part of the Central share of assistance to State Governments and will ensure front loading of resources so that the identified incomplete irrigation projects under Pradhan Mandtri Krishi Sinchai Yojna (PMKSY) are executed in time. He further said that this unique initiative would help complete not only the irrigation projects but also the Command Area Development works which are central to ensure full utilisation of irrigation potential so created. He highlighted that the initiative would bring additional 76 lakh hectare area under irrigation and to a great extent, mitigate water scarcity, dependence on rain and drought situations in project areas. He appreciated the initiatives of the Ministry of Water Resources, River Development & Ganga Rejuvenation and National Bank for Agriculture and Rural Development (NABARD) He said that the Ministry of Financeis committed to support such endeavours. He advised the agencies to undertake very close monitoring of the progress of work to ensure timely completion of all the projects.
Speaking on the occasion, the Minister of Water Resources, River Development and Ganga Rejuvenation Sushree Uma Bharati, said that her Ministry is committed to ensure that the project works are completed by the State Governments as per schedule and exhorted them to complete the required formalities in time. She shared the vision of the Prime Minister to ensure ‘Har Khet ko Paani’ and “Per drop more crop” which the Ministry is trying to translate into reality. She emphasised that the irrigation potential would be enhanced through participation of farmers. She also highlighted a strong monitoring mechanism put in place to ensure that the money is effectively and optimally utilised.
Earlier, NABARD has set-up a Long Term Irrigation Fund (LTIF) as a sequel to the path breaking initiative announced by the Union Finance Minister Shri Arun Jaitley in this regard in his Budget Speech 2016-17. NABARD has sanctioned a loan of Rs. 19,702 crore to National Water Development Agency (NWDA), the agency of the Union Ministry of Water Resources, RD & GR, towards Central Government share in 50 identified irrigation projects from 11 States. This would help create additional irrigation potential of 39.14 lakh hectares under these projects in 11 States. Loan released by NABARD to NWDA would be disbursed to the respective State Governments as Central Share in the projects sanctioned.
NABARD today handed over the sanction letter of loan amounting to Rs 19,702 crore and a cheque for Rs 1,500 croretowards the First Instalment of loan disbursement to NWDA in the august presence of the Union Finance Minister Shri Arun Jaitley and Sushri Uma Bharati, Minister of Water Resources, River Development and Ganga Rejuvenation, (MoWR, RD & GR), at a function organised by NABARD in North Block, in national capital today to mark operationalisation of the LTIF. Dr. Sanjiv Balyan, Minister of State, Water Resources, River Development and Ganga Rejuvenation, Shri Brij Mohan Agrawal, Minister for Water Resources, Agriculture and Animal Husbandry, Government of Chhattisgarh and Shri Girish Mahajan, Minister, Water Resources,Government of Maharashtra also graced the occasion. The event was attended among others by the Senior officials of various Ministries of the Government of India and NABARD.
