Explanation:

The Long Term Irrigation Fund (LTIF) is a fund under the National Bank for Agriculture and Rural Development (NABARD) for implementation of major and medium irrigation projects in India, with an initial corpus of 20,000 crore rupees for the purpose of funding and accelerating the implementation of incomplete major and medium irrigational projects. A mission has been initiated by the Ministries of Water Resources, River Development and Ganga Rejuvenation (MoWR, RD & GR) altogether. LTIF has been instituted in NABARD as a part of the Pradhan Mantri Krishi Sinchayee Yojana (PMKSY). 

The Ministry of Finance, GoI shall allow NABARD for cost-free funds of appropriate amount every financial year so that the lending interest rate under LTIF is maintained at around 6% as approved by the Union Cabinet.