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Revised MoA signed for Funding of Central Share of 99 Prioritized Irrigation Projects

in Business August 7, 2018 Comments Off on Revised MoA signed for Funding of Central Share of 99 Prioritized Irrigation Projects 1,108 Views

Newdelhi:7/8/18;A revised Memorandum of Agreement (MoA) has been signed yesterday amongst Govt. of India (through MoWR, RD & GR), NABARD and National Water Development Agency (NWDA) for funding of central share of 99 prioritized irrigation projects under Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) through Long Term Irrigation Fund (LTIF).

It will enable this Ministry to release Central Assistance to prioritized projects under PMKSY as per the requirements from time to time.During 2015-16 PMKSY was launched by the Central Government with an overarching vision to ensure access to some means of protective irrigation for all agricultural farms in the country, and to produce ‘per drop more crop’, thus bringing much desired rural prosperity.

Under PMKSY, 99 ongoing irrigation projects were identified for completion in mission mode by December, 2019. Total requirement of funds for completion of these projects was estimated at Rs. 77,595 crore (Rs. 48,546 crore for project works and Rs. 29,049 crore for Command Area Development works) with Central Assistance of Rs. 31,342 crore.

Subsequently, a tripartite Memorandum of Agreement (MoA) was signed on 06 September 2016, amongst Govt. of India (through MoWR, RD & GR), NABARD and NWDA for funding of Central Assistance in respect of these 99 irrigation projects through LTIF.

During 2016-17 and 2017-18, cumulative loan amount of Rs. 7863.60 crore has been availed from LTIF for funding these projects.Now, Department of Economic Affairs, Ministry of Finance has modified certain existing mechanism of funding of these 99 projects under LTIF, with reference to source of funds, liability towards servicing of coupon on bonds, repayment pattern of loan and rate of interest on loan, etc. which has necessitated some revision in the earlier signed MoA.

 

 

 

 

 

 

 

 

 

 

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Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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