NABARD Sanctions Rs 770 Crore For Two Irrigation Projects In Jharkhand

The National Bank for Agriculture and Rural Development on Saturday said it has sanctioned Rs 770 crore financial assistance for the construction of two irrigation projects in Jharkhand.

These projects were approved under the Rural Infrastructure Development Fund for the fiscal year 2025.

"NABARD has sanctioned financial assistance of Rs 769.58 crore for construction of two irrigation projects in Palamu and Giridih districts under Rural Infrastructure Development Fund during fiscal 2025," SK Jahagirdar, Chief General Manager, NABARD Jharkhand Regional Office, said.

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

The megalift irrigation project in Giridih will cover 165 of the 197 villages in Pirtand block, leading to the development of 10,158 hectares of cultivable command area.

Both projects are expected to significantly enhance agricultural activities in these districts, according to NABARD.

The routine announcement by NABARD came as the state is gearing up for assembly elections, expected to be held this year.

The tenure of the current Jharkhand assembly of 81 members is due to expire on January 5, 2025.

"With this sanction, NABARD's support to Jharkhand under RIDF during financial 2025 has reached Rs 1,017 crore. The support provided to Jharkhand since the inception of the Rural Infrastructure Development Fund now stands at around Rs 24,300 crore," the bank said in a statement.