The Indian cabinet today approved the funding and implementation of the country's first project interlinking rivers.

The approval came at a meeting of the cabinet, presided over by Prime Minister Narendra Modi, reports our New Delhi correspondent.

The total cost of the project that will link rivers Ken and Betwa has been assessed at Rs 44,605 crore at 2020-21 price levels.

The project will pave the way for more interlinking river projects across India and "also showcase to the world our ingenuity and vision," an official statement said.

This project involves transfer of water from Ken to Betwa rivers through the construction of a dam and a canal linking the two rivers. It will provide an annual irrigation of 10.62 lakh hectares, drinking water supply to a population of about 62 lakhs and also generate 103 MW of hydropower and 27 MW solar power.

The project is proposed to be implemented in eight years.

The project will be of immense benefit to the water-starved Bundelkhand region, spread across the states of Madhya Pradesh and adjacent Uttar Pradesh, according to the statement.

"The project is expected to boost socio-economic prosperity in the backward Bundelkhand region on account of increased agricultural activities and employment generation. It would also help in arresting distress migration from this region," it added.

The project also comprehensively provides for environment management and safeguards, it said, adding that for this purpose a comprehensive landscape management plan is under finalisation by Wildlife Institute of India.