Long Term Irrigation Fund Current Affairs

Pradhan Mantri Krishi Sinchayee Yojana: Government, NABARD and NWDA ink revised MoA for 99 projects

Union Government, NABARD and National Water Development Agency (NWDA) have signed revised Memorandum of Agreement (MoA) for funding of central share of 99 prioritized irrigation projects under Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) through Long Term Irrigation Fund (LTIF).

Key Facts

The revised MoA will enable Ministry of Water Resources to release Central Assistance to prioritized projects under PMKSY as per requirements from time to time. For this, Department of Economic Affairs, Ministry of Finance has modified certain existing mechanism of funding of these 99 projects under LTIF, with reference to source of funds, liability towards servicing of coupon on bonds, repayment pattern of loan and rate of interest on loan, etc.

Pradhan Mantri Krishi Sinchayee Yojana (PMKSY)

PMKSY was launched in July 2015 with overarching vision to ensure access to some means of protective irrigation for all agricultural farms in the country and to produce ‘per drop more crop’, thus bringing much desired rural prosperity. It was formulated by amalgamating earlier schemes viz. AIBP, Integrated Watershed Management Programme (IWMP) and On Farm Water Management (OFWM) component of National Mission on Sustainable Agriculture (NMSA). It is implemented by Ministries of Agriculture, Water Resources and Rural Development. It has outlay of Rs 50000 crore with implementation period of over five-year till April 2020.

Objectives of PMKSY

  • Achieve convergence of investments in irrigation at the field level.
  • Expand cultivable area under assured irrigation (har khet ko pani).
  • Enhance adoption of precision-irrigation and other water saving technologies (More crop per drop).
  • Improve on-farm water use efficiency to reduce wastage of water.
  • Enhance recharge of aquifers.
  • Introduce sustainable water conservation practices.

Month: Categories: India Current Affairs 2018

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North Koel Reservoir Project: Water Resources Ministry ink MoU with Bihar and Jharkhand

The Union Ministry of Water Resources, River Development and Ganga Rejuvenation has inked Memorandum of Understanding (MoU) with Bihar and Jharkhand for completion of balance works of North Koel reservoir project.

Moreover, supplementary Memorandum of Agreement (MoA) was signed between Ministry of Water Resources, National Water Development Agency, NABARD with both states for funding under Long Term Irrigation Fund (LTIF) for the project.

Funding

The project is scheduled to be completed in 30 months at the estimated cost of Rs. 1622.27 crores. Of this Rs. 1013.11 crores will be borne by Union Government as grant from LTIF under Pradhan Mantri Krishi Sinchai Yojana (PMKSY). I60% will be financed by Central Government from LTIF and remaining 40% of cost will be borne by the States through loan financed by NABARD.

North Koel Reservoir Project

The project is situated on North Koel river, tributary on Sone River. It aims to provide irrigation to 111,521 hectares of land annually in most backward and drought prone areas in Jharkhand and Bihar.

The construction of the projected originally had started in 1972 and continued till 1993 when it was stopped by the Bihar forest department over environmental concerns.

The Mandal dam as part of the project had threatened to submerge portions of the Palamau Tiger Reserve and Betla National Park. The National Wildlife Board (NWB) had cleared the project in June 2017 with certain conditions.

North Koel River

North Koel River rises on Ranchi plateau in Jharkhand. It joins the Sone River (only right bank tributary of Ganga River) a few miles north-west of Haidarnagar. Its principal tributaries are the Auranga and the Amanat. It meanders through the northern part of Betla National Park.

Month: Categories: India Current Affairs 2018

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