The National Bank for Agriculture and Rural Development (NABARD) today said it has sanctioned Rural Infrastructure Development Fund (RIDF) loan of Rs 50 crore for rehabilitation of 'Bist Doab' canal system in SBS Nagar, Hoshiarpur, Jalandhar and Kapurthala districts of Punjab.
The project envisages lining of Bist Doab Canal system with an objective to sustain carrying capacity of the channels, said Naresh Gupta, Chief General Manager, Punjab Regional Office of NABARD.
The project would provide better irrigation facilities to the area and would ensure socio economic benefits to poor farmers of the state by increasing their agriculture income. It would also reduce electricity bills and cost of diesel for running tubewells, he said.
Once completed, the project is expected to benefit 1.73 lakh hectares of farm land in 847 villages spread across four districts of the Punjab state, he added.
With the sanction of this project, cumulative sanction to the state of Punjab during 2013-14 under RIDF has reached at Rs 649.35 crore for improving infrastructure in rural areas.
