In Union Budget 2018, Central Government allocates Rs 48,000 crore for KUSUM scheme
The Central Government has announced a Rs 1.4 lakh-crore KUSUM Scheme to promote decentralised solar power production of up to 28,250 MW to help farmers. The acronym KUSUM stands for “Kisan Urja Suraksha Utthaan Maha Abhiyaan”. In the Union Budget 2018-19, the Centre has allocated Rs 48,000 crore on the 10-year KUSUM scheme. The scheme would provide an extra income to farmers by giving them an option to sell additional power to the grid through solar power projects set up on their barren lands. It would help in de-dieselising the sector as also the DISCOMS. Under the scheme, the Central Government will provide subsidy to farmers on setting up of solar power plants on their barren land. The 60% subsidy on the solar pumps provided to farmers will be shared between the Centre and the States while 30% would be provided through bank loans. The balance cost has to be borne by the farmers. As a result, Kusum Scheme will solarize agricultural pump sets to double the income of farmers by 2022.
Category: Government Schemes Current Affairs