Telangana Govt signs MoU with NABARD for Rs 874 crore loan

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The Telangana Government 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.

Due to change in climatic conditions, the ground water level is decreasing and it is the need of the hour for the farmer to use micro irrigation, he said.

Parthasarathi said the target for the year 2016-17 under the NABARD project is to cover 2.23 lakh acres allotted to all districts in the state.