Central Government, NABARD Bank and National Water Development Agency signed the amended agreement for 99 irrigation projects. These projects have to be funded by the long-term irrigation fund (LTIF).
After this amended agreement, the Central Water Resources Ministry can issue timely funds for the priority irrigation projects. For this, the Department of Economic Affairs and the Ministry of Finance have made some changes in the mechanism of the long term irrigation fund. The funding mechanism includes the source of the fund, pattern of loan withdrawal and interest on loans, etc.
Prime Minister Krishi Irrigation Scheme was launched in July 2015. The objective of this scheme is to provide irrigation facility to the agriculture sector of the country. With the help of this scheme, the maximum possible increase in production through irrigation is to "per drop more crop ". This scheme is very important for the prosperity in rural areas. In this plan, schemes like AIBP, Integrated Watershed Management Program and OFWM have been included. This scheme is being implemented by Ministry of Agriculture, Ministry of Water Resources and Ministry of Rural Development. An arrangement of Rs. 50,000 crore has been made for this scheme. This plan will be implemented by April 2020.
Aim of Prime Minister Krishi Irrigation Scheme:
Providing irrigation facility to arable land.
Integrating Investment for Irrigation.
Efficiently using water (but drop, more crop).
Promote water conservation.
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