Cabinet approves raising ₹9,020 cr for Long Term Irrigation Fund
16th August, 2017Category:
The Cabinet on Wednesday gave its approval for raising Extra-Budgetary Resources of up to ₹9,020 crore during the financial year 2017-18. An official statement said that the funds will be raised by the National Bank for Agriculture and Rural Development (NABARD) through the issuance of Bonds at 6 percent per annum as per requirement. These funds will be for the implementation of Accelerated Irrigation Benefits Programme (AIBP) works of 99 ongoing prioritized irrigation projects along with their command area development (CAD) works under the Prime Minister Krishi Sinchayee Yojana (PMKSY).
The Cabinet also approved the completion of remaining work at the North Koel Reservoir Project. The project in Jharkhand and Bihar will be completed at an estimated expenditure of ₹1,622.27 crore that will be incurred during three financial years from the start of the project.
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