Budget: Govt expands PM KUSUM for solar pumps, hopes to cover 2 mn farmers

Finance Minister Nirmala Sitharaman on Saturday announced expansion of Pradhan Mantri Kisan Urja Suraksha Utthan Mahabhiyan (PM KUSUM) Scheme under which 2 million farmers would be provided funds to set up standalone solar pumps.

While presenting the budget for 2020-21, the minister said that 1.5 million farmers would be provided funds to set up grid-connected 1.5 million solar pumps.

The previous Modi government in February last year had unveiled the PM KUSUM scheme with an outlay of Rs 34,422 crore.

Sitharaman told the Lok Sabha that the scheme has removed farmers' dependence on diesel and kerosene and linked them to solar energy. The scheme also enables the farmers to set up solar power generation capacity and sell it to the grid.

 

She stressed that farmers would be able to earn livelihood through their baron land also (by generating solar power on that).

The PM KUSUM scheme had three components -- 10,000 megawatts (MW) of decentralised ground mounted grid-connected renewable power plants (Component-A); installation of 1.75 million standalone solar powered agriculture pumps (Component-B); and solarisation of 10 lakh grid-connected solar powered agriculture pumps (Component-C).

All three components combined, the scheme had aimed to add a solar capacity of 25,750 MW by 2022.



Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel