NABARD Sanctions Rs 770 Crore for Key Irrigation Projects in Jharkhand

ENA Sectors 2024-10-14 17:31:55 Ranchi, Oct 14 (KNN) The National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs 770 crore for two major irrigation projects in Jharkhand under the Rural Infrastructure Development Fund (RIDF) for the fiscal year 2024-25. The initiative is expected to provide a significant boost to the states agricultural sector by expanding irrigation infrastructure and enhancing water access for farmers in the Palamu and Giridih districts. S K Jahagirdar, Chief General Manager of NABARDs Jharkhand Regional Office, confirmed the financial assistance and highlighted the transformative potential of these projects for local communities. The Palamu project aims to irrigate an additional 11,000 hectares of farmland through pipelines that will connect across eight blocks within the district. Meanwhile, in Giridih, a megalift irrigation project will cover 165 out of 197 villages in the Pirtand block, bringing much-needed irrigation to 10,158 hectares of cultivable land. These projects will play a vital role in improving agricultural productivity and supporting farmers with better water access, Jahagirdar said. He emphasized the importance of such infrastructure for rural development, particularly in districts where rain-fed agriculture dominates. The timing of NABARDs announcement is noteworthy, as it comes amid preparations for the states upcoming assembly elections. The current legislative assembly's tenure will end on January 5, 2025, making rural development projects like these central to political discourse in the election season. With this latest approval, NABARDs total financial assistance to Jharkhand under the RIDF for the current fiscal year now stands at Rs 1,017 crore. Since the funds establishment, Jharkhand has received approximately Rs 24,300 crore in cumulative support for various rural infrastructure projects, including irrigation, roads, and rural markets. These projects align with NABARDs broader goal of promoting sustainable agriculture and rural prosperity by improving infrastructure in underserved regions. The improved irrigation facilities are expected to reduce farmers dependence on monsoon rainfall, enabling better cropping patterns and increased agricultural yields. The state government and local communities have welcomed the development, expressing optimism about the long-term economic benefits the projects will bring to the regions farming sector. The implementation of these projects will be closely monitored, as they are expected to create a lasting impact on the livelihoods of thousands of farmers across Jharkhand. (KNN Bureau) 39593 https://knnindia.co.in/news/newsdetails/sectors/nabard-sanctions-rs-770-crore-for-key-irrigation-projects-in-jharkhand 2024-10-14 17:31:55 knnindia.co.in NABARD Sanctions Rs 770 Crore for Key Irrigation Projects in Jharkhand