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The Maharashtra government will seek a Rs 15,000 crore loan from National Bank for Agriculture and Rural Development (NABARD) to complete 75 irrigation projects and construction of canals and distributaries of 155 other irrigation projects. The state cabinet on Monday cleared the proposal to seek Rs 7,500 crore of it in the first phase.
At present, the state has a total of 259 irrigation projects under construction for which the government makes available around Rs 11,000 to 15,000 crore annually. “However, only Rs 13,000 crore became available for actual construction of the project after spending the fund on land acquisition, rehabilitation etc. This cost is increasing and therefore the allocation is insufficient,” said an official from the state’s irrigation department.
The state government in August 2019 decided to avail a loan from financial institutions and based on that, a Rs 7,500 crore loan will be taken in the first phase from NABARD.
In the first phase, 37 irrigation projects will be covered out of which 14 will be from Konkan Irrigation Development Corporation, five from Tapi Irrigation Development Corporation (north Maharashtra), eight from Krishna basin irrigation development corporation (western Maharashtra), three from Godavari Marathwada Irrigation Development Corporation (Marathwada) and seven from Vidarbha Irrigation Development Corporation.
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