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Union Government, NABARD and NWDA sign revised MoA for funding of 99 projects under PMKSY

Aug 7, 2018 21:17 IST
Union Government, NABARD and NWDA sign revised MoA for funding of 99 projects under PMKSY

The Union Ministry of Water Resources, the NABARD and the National Water Development Agency (NWDA) on August 6, 2018 signed a revised Memorandum of Agreement (MoA) for funding of central share of 99 prioritised irrigation projects under Pradhan Mantri Krishi Sinchayee Yojana (PMKSY).

The funding will be done through the Long Term Irrigation Fund (LTIF). The Department of Economic Affairs has modified certain existing means of funding of 99 irrigation projects under the LTIF with reference to source of funds, repayment pattern of loan, and rate of interest on loan, etc.

The revised MoA will enable the Ministry of Water Resources to release Central Assistance to prioritised projects under PMKSY as per the requirements from time to time.

Funding of projects under Pradhan Mantri Krishi Sinchayee Yojana (PMKSY)

• During 2016-17 and 2017-18, a cumulative loan amount of Rs 7863.60 crore has been availed from LTIF for funding these projects.

• During 2015-16, the PMKSY was launched by the Union Government with a vision to ensure access to some means of protective irrigation for all agricultural farms in the country and to produce ‘per drop more crop’.

• Under PMKSY, 99 ongoing irrigation projects were identified for completion in mission mode by December 2019.

• The total requirement of funds for completion of these projects was estimated at Rs 77,595 crore (Rs 48,546 crore for project works and Rs 29,049 crore for Command Area Development works) with Central Assistance of Rs 31,342 crore.

• Subsequently, a tripartite MoA was signed in September 2016 among the Union Ministry of Water Resources, NABARD and NWDA for funding of Central Assistance.

 About Prime Minister Krishi Sinchayee Yojana

• The Prime Minister Krishi Sinchayee Yojana was approved by the Union Cabinet in July 2015 with an outlay of Rs 50000 crore with implementation period of over five-year till April 2020.

• It aims to provide convergence to existing schemes of water management, thus bringing efficiency to the use of water.

• It also aims to expand cultivable area under assured irrigation, improve on-farm water use efficiency to reduce wastage of water and enhance the adoption of precision-irrigation and other water saving technologies (More crop per drop).

• The scheme was launched in addition to existing farmer friendly initiatives undertaken by the NDA government such as Soil Health Card to farmers, setting up soil and fertilizer laboratories for Soil Health Management, launch of Pramparagat Krishi Vikas Yojana, etc.

 

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