NABARD Sanctions ₹770 Crore for Major Irrigation Projects in Jharkhand

Team FS

    12/Oct/2024

What's covered under the Article:

1. NABARD has sanctioned ₹769.58 crore for irrigation projects in Palamu and Giridih districts to improve agricultural productivity.

2. The projects aim to provide irrigation to over 21,000 hectares of land, benefiting thousands of farmers in Jharkhand.

3. This funding reflects NABARD's continued commitment to rural infrastructure development in the state, totaling ₹1,017 crore this fiscal year.

The project in Palamu is set to irrigate an additional 11,000 hectares of farmland through a network of pipelines spread across eight blocks. This enhancement in irrigation is expected to significantly boost agricultural activities, ensuring better crop yields and sustainability in farming practices.

Similarly, the megalift irrigation project in Giridih will target 165 out of 197 villages in the Pirtand block. This initiative will lead to the development of an expansive 10,158 hectares of cultivable command area, thereby promoting agricultural growth and providing more resources for farmers. The successful completion of these projects is expected to have a transformative impact on the agricultural output of these districts, leading to improved food security and economic stability for the region.

Implications for Farmers

The importance of these irrigation projects cannot be overstated. They promise to bring life-changing benefits to local farmers by ensuring that water supply is consistent and reliable, especially in the face of climatic challenges. The infrastructure improvements will allow farmers to cultivate their lands more effectively, leading to increased productivity and better quality of produce. This aligns perfectly with the objectives of NABARD to enhance rural infrastructure and support agricultural initiatives across India.

Political Context

This routine announcement by NABARD comes at a politically significant time, as Jharkhand is preparing for upcoming assembly elections, anticipated to be held later this year. The current assembly, consisting of 81 members, will see its tenure expire on January 5, 2025. The financial backing provided by NABARD may serve to bolster the agricultural sector, a vital concern for voters in the state, making it an important factor in the forthcoming elections.

Historical Support from NABARD

With this latest sanction, NABARD’s support to Jharkhand under the RIDF during the 2024-25 fiscal year has reached ₹1,017 crore. Since the inception of the Rural Infrastructure Development Fund, NABARD’s cumulative support to the state stands at around ₹24,300 crore. This extensive financial backing underscores NABARD's commitment to facilitating agricultural development and improving the rural economy in India.

Looking Forward

As these irrigation projects progress, the potential for increased agricultural productivity becomes a focal point for NABARD and the government of Jharkhand. The anticipation surrounding these developments is palpable, with stakeholders keenly observing how these initiatives will reshape the agricultural landscape of the region. The success of these projects could pave the way for similar future investments, ultimately contributing to sustainable development in rural India.

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