On the other hand, the historical experience of countries like Italy, where monetary policy and banking supervision were concentrated in a single institution – the central bank – shows that the independence attributed to the two functions by law and by social norms tends to be mutually reinforcing when the two are put under the same roof.
Punjab has an irrigation index of 98 per cent while only 6 per cent of the agricultural land in Jharkhand is irrigated (Chart 5). Further, large scale delays, huge cost escalation, implementation delays, etc. have contributed to slow down in expansion of areas under irrigation.