Loans for Small and Micro Irrigation Projects
Banks provide loans to small and micro irrigation projects. National Bank for Agriculture & Rural Development (NABARD) refinances loans for Minor Irrigation which include small and micro irrigation loans also. NABARD’s refinance for the last three years in this regard is as under:
2009-10: Rs. 125.52 crore (as on October 2009)
2008-09: Rs. 545.85 crore
2007-08: Rs. 403.68 crore
NABARD as a policy has included small and micro irrigation as one of the thrust areas for the year 2009-10. Further, consequent upon Government of India declaring 299 districts spread across 12 States as drought affected (based on the rainfall data provided by India Meteorological Department), NABARD has issued instructions dated 2 September 2009 on Drought Relief Measures by Banks, to its Regional Offices advising them, inter alia, that they may call upon State Cooperative Agriculture and Rural Development Banks (SCARDBs) to finance water saving devices and support water conservation measures (Drip, Sprinkler system of irrigation) so as to minimize the impact of drought on rural people and economy.
This information was given by Minister of State for Finance, Shri Namo Narain Meena in written reply to a question raised in Rajya Sabha today.
