Telangana Govt signs MoU with NABARD for Rs 874 crore loan

nabard 874 croreThe Telangana Government today signed an MoU with NABARD here for a loan of Rs 874 crore to the Horticulture Development Corporation to cover 3.15 lakh acres under Micro Irrigation scheme for 2016-17 and 2017-18. A Government release quoted Agriculture Secretary Parthasarathi as saying agriculture in the state is rain-fed and about 42.82 lakh acres depend on borewells for irrigation.

For judicious utilisation of groundwater, it is essential to have drip and sprinkler cultivation. The MoU with Nabard further boost the drip irrigation system in the State,” said Parthasaradhi. He said according to the directions of Chief Minister the drip irrigation facility would be extended to 3.15 lakh acres during the period of 2016-18 with the financial support of NABARD.

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