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Tuesday, January 18, 2022

Pradhan Mantri Krishi Sinchayee Yojana: Cabinet approves implementation of PMKSY for 2021-26 | Personal Finance News

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New Delhi: The Union Cabinet on Wednesday approved the implementation of Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) for 2021-26 with an outlay of Rs.93,068 crore that aims to benefit about 22 lakh farmers including 2.5 lakh SC and 2 lakh ST farmers in the country. 

Addressing the media, Union Minister Gajendra Singh Shekhawat said, “Pradhan Mantri Krishi Sinchayee Yojana was implemented in the country in 2015-16 under Prime Minister Narendra Modi. In 2015-16, a total of 99 projects were identified which were completed more than 50 per cent but had been pending for years. Of the 99 projects that were identified, 46 have been completed. The rest of the projects will be completed by 2024-25.”

According to the statement by the Cabinet Committee on Economic Affairs (CCEA), it approved central support of Rs.37,454 crore to States and Rs 20,434.56 crore of debt servicing for loans availed by the Government of India for irrigation development during PMKSY 2016-21. 

Accelerated Irrigation Benefit Programme (AIBP), Har Khet ko Paani (HKKP) and Watershed Development components have been approved for continuation during 2021-26. 

Accelerated Irrigation Benefit Programme – a flagship programme of the Government aims for financial support to irrigation projects. Total additional irrigation potential creation targeted during 2021-26 under AIBP is 13.88 lakh hectares. Apart from the focused completion of 60 ongoing projects including their 30.23 lakh hectare command area development, additional projects can also be taken up. The inclusion criteria have been relaxed for projects under tribal and drought-prone areas. Also Read: Markets extend losses for fourth day as Fed decision looms

Har Khet Ko Pani (HKKP) aims for the enhancement of physical access on the farm and the expansion of cultivable areas under assured irrigation. Under HKKP, surface minor irrigation and repair-renovation-restoration of water bodies component of PMKSY is targeted to provide additional 4.5 lakh hectare irrigation. Also Read: Big boost for digital payments! Cabinet approves Rs 1,300-crore scheme to promote UPI, Rupay

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