NABARD Sanctions ₹770 Crore for Irrigation Projects in Palamu and Giridih

14 Oct 2024 , 12:28 PM

NABARD, The National Bank for Agriculture and Rural Development has sanctioned ₹770 Crore in financial assistance for two irrigation projects in Jharkhand under the Rural Infrastructure Development Fund (RIDF) for the fiscal year 2024-25.

The funds will support the construction of irrigation projects in the Palamu and Giridih districts, as announced by S K Jahagirdar, Chief General Manager of NABARD Jharkhand Regional Office.

The project in Palamu aims to provide irrigation to an additional 11,000 hectares of land through pipelines across eight blocks in the district.

In Giridih, the megalift irrigation project will cover 165 of 197 villages in Pirtand block, boosting agricultural development over 10,158 hectares of cultivable land.

These projects are expected to significantly improve agricultural activities in both districts, enhancing water access and supporting local farmers.

This announcement coincides with preparations for Jharkhand’s assembly elections, as the current assembly’s term expires on January 5, 2025.

With this approval, NABARD’s total financial support to Jharkhand under RIDF for FY 2024-25 has reached ₹1,017 Crore, bringing the overall support under the fund to approximately ₹24,300 Crore since its inception.