CONTEXT
Release of interest sub-vented loan from Micro-Irrigation Fund (MIF) under PMKSY.
MAIN POINTS:
- Micro Irrigation Fund with a corpus of Rs. 5000 crore created with NABARD was operationalised in 2019-20
- The objective of the Fund is to facilitate the states in availing an interest sub-vented loan for expanding coverage of micro-irrigation by taking up special and innovative projects and also for incentivising micro-irrigation beyond the provisions available under PMKSY-Per Drop More Crop to encourage farmers to install micro-irrigation systems.
Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) :
PMKSY is a Centrally Sponsored Scheme (Core Scheme) launched in 2015. Centre- States will be 75:25 per cent. In the case of the north-eastern region and hilly states, it will be 90:10.
Objectives:
- Convergence of investments in irrigation at the field level,
- To expand the cultivable area under assured irrigation
- To improve on-farm water use efficiency to reduce wastage of water,
- To enhance the adoption of precision-irrigation and other water saving technologies (More crop per drop),
- To enhance recharge of aquifers and introduce sustainable water conservation practices by exploring the feasibility of reusing treated municipal based water for peri-urban agriculture and attract greater private investment in a precision irrigation system
SOURCE: PIB