Maharashtra Government to acquire loan to finish on-going irrigation projects
WATER & WASTE

Maharashtra Government to acquire loan to finish on-going irrigation projects

The proposal to acquire a long-term loan of Rs 150 billion has been approved by the Maharashtra Cabinet towards the completion of on-going irrigation projects in the state.

The step is a move in the direction of increasing irrigational capacity by approximately 0.29 million hectares, in the span of three years facilitated by the additional funding. Subsequently, 891 million cubic meters of water storage will also become available, thereby, cultivating a more efficient irrigation mechanism. 

Currently, the under-construction projects amount to 313 with a total cost of Rs. 935.7 billion.

Annually, the Water Resources Department is allotted Rs 100 billion by the State Government, with a focus on garnering additional funds by pursuing various sources- which is inclusive of seeking assistance from the Central Government and taking loans through NABARD. 

The projects to benefit from the loan are spread over Vidarbha, Marathwada and run along the rest of Maharashtra. Apart from these, reportedly, 26 projects have been shortlisted under the Prime Minister's Irrigation Scheme. NABARD has warranted Rs 192.51 billion as a long-term loan for the selected ventures at an interest rate of 6 per cent. The Central Government has also put in an extra funding of Rs 31.47 billion. 

Additionally, Maharashtra Government’s special scheme - Baliraja Sanjivani, umbrellas over 91 projects that belong to farmer suicide affected areas as well as drought stricken lands as a means of providing relief to farmers.

The proposal to acquire a long-term loan of Rs 150 billion has been approved by the Maharashtra Cabinet towards the completion of on-going irrigation projects in the state.The step is a move in the direction of increasing irrigational capacity by approximately 0.29 million hectares, in the span of three years facilitated by the additional funding. Subsequently, 891 million cubic meters of water storage will also become available, thereby, cultivating a more efficient irrigation mechanism. Currently, the under-construction projects amount to 313 with a total cost of Rs. 935.7 billion.Annually, the Water Resources Department is allotted Rs 100 billion by the State Government, with a focus on garnering additional funds by pursuing various sources- which is inclusive of seeking assistance from the Central Government and taking loans through NABARD. The projects to benefit from the loan are spread over Vidarbha, Marathwada and run along the rest of Maharashtra. Apart from these, reportedly, 26 projects have been shortlisted under the Prime Minister's Irrigation Scheme. NABARD has warranted Rs 192.51 billion as a long-term loan for the selected ventures at an interest rate of 6 per cent. The Central Government has also put in an extra funding of Rs 31.47 billion. Additionally, Maharashtra Government’s special scheme - Baliraja Sanjivani, umbrellas over 91 projects that belong to farmer suicide affected areas as well as drought stricken lands as a means of providing relief to farmers.

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000