Appreciating Nabard’s initiative to fund irrigation works, Finance Minister Arun Jaitley today said investments in such projects, including Polavaram, start showing results in a short period of time and lead to “social satisfaction”. “This is first time Nabard is financing irrigation projects… investment in agriculture through irrigation can in next season start showing results and these results lead to social satisfaction, lead to economic prosperity,” he said at an event here.
Investment in irrigation leads to social satisfaction
“Therefore, it is extremely important that a very large part of the funding comes for that purpose. Using the water resource of the country to its optimum so that the farmers can benefit is one of the prime objectives,” he said. Stressing that money invested in irrigation has great importance, the Finance Minister said if one invests in manufacturing, which is also important, returns are visible after reasonably long period. It is true for several other sectors as well, he said after handing over cheques to Maharashtra, Gujarat and Andhra Pradesh for implementing various irrigation projects.
Andhra Pradesh was handed over cheque of Rs 1,981 crore for implementing multi-purpose Polavaram project, while Maharashtra and Gujarat received Rs 756 crore and Rs 463 crore respectively as part of Rs 20,000 crore Long Term Irrigation Fund announced in the Budget this year.