PIB News Update: Micro Irrigation Fund with a corpus of Rs. 5000 crore created with NABARD was operationalised in 2019-20. The objective of the Fund is to facilitate the States in availing an interest subvented loan for expanding coverage of Micro Irrigation by taking up special and innovative projects and also for incentivising micro irrigation beyond the provisions available under PMKSY-Per Drop More Crop to encourage farmers to install micro irrigation systems.
Steering Committee of MIF has approved projects for loan of Rs. 3971.31 crore comprising Rs. 764.13 crore for Gujarat, Rs. 1357.93 crore for Tamil Nadu, Rs. 616.13 crore for Andhra Pradesh, Rs. 276.55 crore for West Bengal, Rs.790.94 crore for Haryana Rs. 150.00 crore for Punjab and Rs. 15.63 crore for Uttarakhand.
NABARD released loan of Rs 659.70 crore to Haryana, Tamil Nadu and Gujarat. Thereby a total amount of Rs. 1754.60 crore has been released so far, comprising Rs. 616.13 crore to Andhra Pradesh, Rs. 937.47 crore to Tamil Nadu, Rs. 21.57 crore to Haryana and Rs. 179.43 crore to Gujarat.