PM Surya Ghar, Green Corridor, PM-KUSUM Get Financial Push

Budget: PM Surya Ghar, Green Corridor, PM-KUSUM Get A Push

The latest Union Budget presented by Union Finance Minister Nirmala Sitharaman indicated a financial push to several renewable energy schemes. This includes fresh or increased allocations for programmes like PM Surya Ghar, PM-KUSUM scheme, Green Corridors, Green Hydrogen and grid-connected hydro projects.

Details from the budget’s expenditure documents revealed that the ministry allocated Rs 6,250 crore for the PM Surya Ghar scheme for 2024-25. 

“The scheme PM Suryaghar Muft Bijli Yojana has been launched by Government of India. The existing ‘Solar Power (Grid)’ scheme is proposed to be subsumed under this scheme along with the remaining financial outlay and liabilities. An amount of..`.6,250 crore is allotted in this scheme for BE 2024-2025,” the budget document read.

The scheme, announced early this year talks about installing rooftop solar systems in one crore households. The budget also increased the allocations earmarked for the PM-KUSUM scheme from Rs 1,100 crore in 2023-24 to Rs 1,496 crore in 2024-25. 

On the other hand the budget has reduced the allocations to off-grid central solar programmes from Rs 60 crore to Rs 24 crores. The budget expenditure details also revealed that the ministry reduced the allocations to the grid-connected wind programmes from Rs 916 crore to Rs 800 crore. 

Moreover, allocations for grid-connected hydro power have been increased from Rs 20 crore to Rs 50 crore. Talking about the Green Energy Corridor, the document talked about increasing the financial support from Rs 434 crore to Rs 600 crore. Similarly for Green Hydrogen Mission, the the Budget proposed increasing the net budget from Rs 100 crore to Rs 600 crore. This amount is set to be met through the Sovereign Green Fund.  The Union government’s budget also increased the budget for bio energy from Rs 75 crore to Rs 300 crore. 

Union Minister Nirmala Sitharaman presented the Union Budget before the Parliament on July 23. She talked about a slew of measures to boost the renewable industry. This included the announcement of imposing new Customs Duty on the import of solar glass in India, bringing more exempted items for the production of solar cells and solar modules in India, bringing out roadmap for boosting the growth of Pumped Storage Systems in the country among others.

(Note: During comparison, the Revised Budget for 2023-24 was taken into account)