Projects under long-term irrigation fund get Rs 14,398 cr

New Delhi: An amount of about Rs 14,398 crore has been released for projects under the Long Term Irrigation Fund (LTIF) until December 31, out of the allocated Rs 40,000 crore. Spread across 18 states, the 99 projects are to be completed in phases by December 2019, bringing 7.9 million hectares of land under assured irrigation.

“Cumulatively, we have released Rs 14,398.48 crore under the Long Term Irrigation Fund. The resources are raised by the National Bank for Agriculture and Rural Development (Nabard) directly from the market by issuing 15-year bonds,” a Nabard official said, adding that states make provisions for their share from their budgetary resources.

During 2016-17, states spent about Rs 5,000 crore on the completion of irrigation works of prioritised projects from their own resources, an official from the water resources ministry said.