Reasons for being in news
The Expenditure Finance Committee (EFC) has approved the revised cost estimate of DRIP for Rs. 3466 Crore and extended time period for conclusion of this project till June, 2020.
About Dam Rehabilitation & Improvement Project (DRIP)
DRIP is a state sector scheme with central component to improve safety and operational performance of selected dams, along with institutional strengthening with system wide management approach.
The Scheme commenced in April 2012 and was originally scheduled for six years with closure in June 2018. The total original cost of DRIP was Rs. 2100 Crore with State component of Rs. 1968 Crore and Central Component of Rs. 132 Crore.
Dam Rehabilitation and Improvement Project (DRIP) is an externally-aided project. 80% of the total project is provided by the World Bank as loan/credit and remaining 20% is borne by the States / Central Government (for CWC). Govt. of India has not sought funding from any internal agency for this project.
The Central Dam Safety Organisation of Central Water Commission, assisted by Engineering and Management Consultant, is coordinating and supervising the Project implementation.
Presently, India ranks third globally with 5254 large dams in operation and about 447 are under construction. In addition, there are several thousand smaller dams. These dams are vital for ensuring the water security of the Country; and these also constitute a major responsibility in terms of asset management and safety.
Objectives of DRIP
1. To improve the safety and operational performance of selected existing dams and associated appurtenances in a sustainable manner.
2. To strengthen the dam safety institutional setup of participating States / Implementing Agencies.