CURRENT AFFAIRS

Detailed explanation-1: -Micro Irrigation Fund with a corpus of Rs. 5000 crore was operationalized in NABARD from 2019-20. Ministry of Agriculture and Farmers Welfare (MoA&FW), Government of India is the Nodal Ministry. The objective of the fund is to facilitate State Govts.

Detailed explanation-2: -Micro Irrigation Fund Scheme In 2005-06, the Department of Agriculture, Cooperation & Farmers Welfare launched a centrally sponsored scheme on Micro Irrigation which was subsequently converted to National Mission on Micro Irrigation in 2010-11.

Detailed explanation-3: -Micro Irrigation Fund will help to disperse Rs. 5000 crore among states for promoting micro irrigation. States can avail the fund in form of loan from NABARD (National Bank for Agriculture and Rural Development) at 3% below the cost of funds and the 3% being compensated by central government.

Detailed explanation-4: -under MIF. Under the ongoing MIF fund, projects for Rs. 3970.17 crore has been approved for loan under MIF to the States of Andhra Pradesh, Gujarat, Tamil Nadu, Haryana, West Bengal, Punjab & Uttarakhand which would be facilitating bringing of 12.83 lakh ha of area under Micro Irrigation.