The Budget has announced Rs 1,40,000 crore scheme to solarise agricultural pumps and encourage use of barren land for setting up solar power plants, power and renewable energy minister R K Singh said on Friday.
The government will spend Rs 48,000crore over 10 years for the Kisan Urja Suraksha evam Utthaan Mahabhiyan (Kusum) scheme, Singh told reporters here. The scheme will be sent to Cabinet for approval.
The scheme will have four components including setting up 10,000-mw solar plants on barren lands and incentivising discoms to buy produced electricity, distributing 17.5 lakh solar pumps, solarising exisiting pumps of 7250-mw and government tube wells of 8250-mw capacity.
The farmers will be given 60% subsidy on the solar pumps, while 30% will be provided through bank loans. Farmers will have to bear 10% upfront cost.
This is an unedited Agency Feed