Govt's rooftop solar scheme gets a name; investment pegged at ₹75,000 cr

livemint.com:

announced in the interim budget. Named PM Surya Ghar: Muft Bijli Yojana, the scheme is projected to entail an investment of ₹75,000 crore. Prime Minister Narendra Modi, while announcing the launch of the scheme on social media platform X, reiterated the government's commitment to providing 300 units of free power to 10 million beneficiary households.

“In order to further sustainable development and people’s well-being, we are launching the PM Surya Ghar: Muft Bijli Yojana. This project, with an investment of over Rs. 75,000 crores, aims to light up 1 crore households by providing up to 300 units of free electricity every month," he said in a tweet.

The focus on free electricity is particularly relevant with the general elections around the corner. To popularize the scheme at the grassroots, urban local bodies and panchayats will be incentivized to promote rooftop solar systems in their jurisdictions, he said, claiming that the scheme will lead to more income, lower power bills and employment generation for people. In another tweet, Modi said “From substantive subsidies, which will be given directly to people’s bank accounts, to heavily concessional bank loans, the Central Government will ensure that there is no cost burden on the people.

All stakeholders will be integrated into a National Online Portal which will further convenience," he said. Presenting the interim budget for FY25 on 1 February, union finance minister Nirmala Sitharaman had said that the 10 million beneficiaries of the new scheme would be able to get 300 units of free power through the rooftop solar installations, resulting in an annual saving of ₹15,000-18,0000 per year. Union finance secretary TV Somanathan after the presentation of the budget said