GoI Sanctioned Rs 3,971 Crores for Micro-Irrigation Projects
The Government of India has sanctioned a loan worth Rs 3,971 crores of rupees for micro irrigation projects in Tamil Nadu on November 20, 2020. This sanctioned loan amount is biggest loan ever in the state.
The loan has been sanctioned under the micro irrigation fund at the subsidized interest rate. This micro irrigation fund was created within the National bank for Agriculture and Rural Development (NABARD). This fund will be used only to implement micro irrigation projects. So far Rupees 1,357 crores has been sanctioned to Tamil Nadu.
The micro irrigation project fund was created in the year 2019-2020. It was created to provide subsidized loan to the states in order to expand the coverage of micro irrigation. The fund was created with a Corpus of Rupees 5,000 crores.
Other States getting Fund
Apart from Tamil Nadu, other states that have received the funds include:
- Haryana has been sanctioned with Rupees 790 crores
- Gujarat – Rupees 764 crores
- Andhra Pradesh- Rupees 616 crores
- West Bengal – Rupees 276 crores.
- Punjab and Uttarakhand have also received financial support.
Other Support Under the Funds
Under the micro irrigation funds, financial assistance has also been extended to Pradhan Mantri Krishi Sinchai Yojana ( per drop more crop scheme). This scheme encourages farmers to adopt micro irrigation systems.
Micro irrigation System in India
India have a set target of bringing 100 lakh hectares of land under the micro irrigation system within 5 years. The Government of India (GoI) presently focusing on drip irrigation and sprinkler irrigation systems. Around 11 lakh farmers were benefited from drip and sprinkler irrigation systems.