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Rs. 65,635 Crore Loans Approved By NABARD for under PMKSY 93 Irrigation Projects

  • Delhi, September 17, 2018: As revealed by Chairman H.K. Bhanwala, the The National Bank for Agriculture and Rural Development (NABARD) has approved loans worth Rs. 65,634.93 crore so far to support 93 irrigation projects under the Pradhan Mantri Krishi Sinchayee Yojana (PMKSY).

    The NABARD is funding the central and state share of 99 prioritised irrigation projects under the PMKSY through long term irrigation fund (LTIF). It is mandated to provide Rs 70,000 crore loan to these projects to be completed by 2019.

    "All financial support will be available for the projects. There is progress. The timely completion depends on state governments’ disbursement of their share of funds and union water resources ministry's active role," Bhanwala told PTI.

    The NABARD has so far sanctioned Rs 65,634.93 crore funds for 93 prioritised irrigation projects out of 99, he said. Already, Rs 23,402.72 crore has been disbursed for 86 projects, which includes the central share of 15,242.02 crore and state share of Rs 8,160.70 crore, he added. The NABARD chief said that so far, 18 projects have been completed and about seven projects are nearing to completion.