Loans – Authorities okays subsidised loans worth Rs 3,971.31 crore for micro-irrigation projects- The New Indian Express
NEW DELHI: The Union Agriculture Ministry on Friday stated it has given nod for subsidised loans worth Rs 3,971.31 crore for implementing micro-irrigation initiatives, and most loan has been authorized for Tamil Nadu.
The curiosity subvented loans are being provided beneath Micro Irrigation Fund (MIF) created with Nationwide Bank for Agriculture and Rural Growth (NA(BA)RD) for implementing micro-irrigation initiatives.
This fund with a corpus of Rs 5,000 crore was operationalised within the 2019-20 fiscal with an goal to facilitate states in availing subsidised loans for increasing protection of micro irrigation.
In a press release, the ministry stated the steering committee of MIF has authorized initiatives for loan worth Rs 3,971.31 crore.
Out of this, most loan of Rs 1,357.93 crore has been authorized for Tamil Nadu, adopted by Rs 790.94 crore for Haryana, Rs 764.13 crore for Gujarat, Rs 616.13 crore for Andhra Pradesh, Rs 276.55 crore for West Bengal, Rs 150 crore for Punjab and Rs 15.63 crore for Uttarakhand, it stated.
Nonetheless, NA(BA)RD has up to now launched a complete loan quantity of Rs 1,754.60 crore to the states. Of this, about Rs 659.70 crore has been launched to Haryana, Tamil Nadu and Gujarat. About Rs 616.13 crore loan has been launched to Andhra Pradesh, Rs 937.47 crore to Tamil Nadu, Rs 21.57 crore to Haryana and Rs 179.43 crore to Gujarat up to now, it added.
Underneath the MIF, subsidised loans are supplied for not solely taking over particular and modern initiatives but in addition for incentivising micro irrigation past the provisions obtainable beneath Pradhan Mantri Krishi Sinchai Yojana (Per Drop Extra Crop) to encourage farmers to put in micro irrigation methods.