Extra budgetary resources of Rs 9,020 crore to be made available for irrigation projects
DSIJ Intelligence / 18 Aug 2017
Raising Extra Budgetary Resources (EBR) of up to Rs 9,020 crore by NABARD as per the requirement outlined during 2017-18 has been approved by the Union Cabinet.
Raising Extra Budgetary Resources (EBR) of up to Rs 9,020 crore by NABARD as per the requirement outlined during 2017-18 has been approved by the Union Cabinet.
This will done through issuance of bonds for ensuring lending rate of 6% per annum in respect of borrowings for implementation of the Accelerated Irrigation Benefits Programme (AIBP) works of 99 ongoing prioritised irrigation projects along with their Command Area Development (CAD) works under the PMKSY.
During 2016-17, 99 ongoing projects under the PMKSY-AIBP were identified for completion in phases by December 2019. To ensure that adequate funds are available for the completion of these projects, the finance minister had, during his Union Budget speech 2016-17, announced the setting up of a dedicated Long-Term Irrigation Fund (LTIF) with NABARD that would have an an initial corpus of Rs 20,000 crore for the funding of central and state projects.
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