Ministry: Ministry of Agriculture & Farmers Welfare
Objective:
The dedicated MIF will supplement efforts of Per Drop More Crop (PDMC) Component of PMKSY in an effective and timely manner. It will help to bring about 10 lakh ha of land under irrigation through innovative composite, community and cluster based micro irrigation projects with additional investment in MIF.
The MIF will facilitate states to mobilise resources for their initiatives, including additional (top up subsidy) in implementation of PMKSY-PDMC to achieve annual target of about 2 Million ha per year during remaining period of 14th Finance Commission under PDMC component of PMKSY as recommended by Group of Secretaries.
Salient Features:
The government estimates the area that can come under micro irrigation at 69.5 million hectares, compared with the current coverage of only about 10 million hectares.
The states can access this fund for incentivizing micro-irrigation, innovative integrated projects, including projects in the Public Private Partnership (PPP) mode.
The funds can be accessed by State Level Agencies/ Farmers Producers Organization (FPO)/ Cooperatives with state government guarantee or any equivalent collateral.
The fund may be accessed by the Farmers Co-operatives for innovative cluster based community irrigation projects.
Under the programme, NABARD will extend loans to state governments during this period. The loans can be paid back in 7 years, including a grace period of two years.
Read More-
- General Agriculture One Liner For Competitive Exam
- Black Soil
- Effect Of Atmosphere
- Agriculture Current Affairs 1 August 2019
- Importance of basic sciences for development of Agricultural science ( Notes For NABARD)
