he National Bank for Agriculture and Rural Development (NABARD) has approved Rs 770 crore in financial assistance for the construction of two irrigation projects in Jharkhand, the bank announced on Saturday.
The projects, located in Palamu and Giridih districts, were sanctioned under the Rural Infrastructure Development Fund (RIDF) for the 2024-25 financial year, NABARD said.
"NABARD has sanctioned Rs 769.58 crore for these irrigation projects, which will boost agricultural productivity in the region," S.K. Jahagirdar, Chief General Manager of NABARD's Jharkhand Regional Office, said in a statement.
The project in Palamu will irrigate an additional 11,000 hectares of land through pipelines across eight blocks, while the megalift irrigation project in Giridih is expected to cover 165 of the 197 villages in Pirtand block, benefiting 10,158 hectares of farmland.
These projects are anticipated to significantly enhance agricultural activities in both districts, according to NABARD.
The announcement comes as Jharkhand prepares for its upcoming assembly elections, with the current assembly’s tenure set to end on 5 January 2025.
With this latest sanction, NABARD's financial support to Jharkhand under the RIDF for the 2024-25 fiscal year has reached Rs 1,017 crore.
Since the Rural infrastructure development fund’s inception, the state has received around Rs 24,300 crore in total support.
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