The Department of Agriculture, Cooperation & Farmers Welfare (DAC&FW) has doubled the initial corpus of Micro Irrigation Fund (MIF) by Rs 5000 crore.
It is to further strengthen the adoption of Micro Irrigation systems by the farmers in the country for enhancing water use efficiency at farm level.
While, MIF with a corpus of Rs. 5000 Crore was created with NABARD during 2018-19 under ‘Pradhan Mantri Krishi Sinchayee Yojana (PMKSY-PDMC).
As per the ongoing MIF fund, projects for Rs 3970.17 crore has been approved for loan under MIF to the States of Andhra Pradesh, Gujarat, Tamil Nadu, Haryana, West Bengal, Punjab & Uttarakhand which would be facilitating bringing of 12.83 lakh hectare of area under Micro Irrigation.
Further, states may also access MIF exclusively for innovative integrated projects (like high water duty crops like sugarcane/solar linked systems/Micro irrigation in command area etc.) including projects in PPP mode depending on State specific requirements. The Government provides 3 percent interest on loans extended to State Government under MIF.