KUSUM Scheme Solar Pump Loan Subsidy Yojana (Full Form, Kisan Urja Suraksha Utthaan Maha Abhiyan).
The Union Finance Minister Arun Jaitley introduced a number of beneficial scheme for the farmers of the country. The main aim of the present government and Finance Ministry is to try and boost the farming sector of the country. With this aim in mind the government has announced to launch the KUSUM scheme in the benefit of the farmers.
Under this new scheme the farmers of the country can avail easy financial assistance from the center. The scheme will be available for farmers who want to use it for purchasing solar powered water pumps for their farm lands. The FM has also ensured that the government and Union Cabinet approve and fix a allocated amount for implementation of the scheme.
The FM has already stated that the new scheme has been announced by the government for 2018-19 fiscal year. The announcement was officially made by the committee addressing the financial budget for this fiscal year in the house of commons on 2nd February 2018.l. the FM has also announced the set budget for approval under the scheme.
The government has stated that the process for implementation of the solar powered pumps will be done within stages. So the allocation of the budget has also been done accordingly. The first stage for disbursement of solar powered pumps (17.5 lakhs – QTY) will be allocated with Rs 22,000 crore. The disbursement will be done for mounting (10,000 Mega Watt Capacity) for budget of Rs 4875 crore. The government has also allocated the amount of Rs 15,750 crore for the solarising the pump that is presently being used by the farmers. Lastly an additional amount of Rs 5000 crore has been set by the government for providing grid connection to each of the farm lands.
Key features of the KUSUM scheme
- Objective – The main aim of the government for implementing the scheme for distributing Solar powered pumps under subsidy is to try and help farmers of the nation to generate much better income from their farm lands. The pumps will offer farmers with an option to generate electricity for irrigation at a very cheap price. In case farmers generate more electricity then they can sell it back to the electricity board and generate additional income.
- Benefit – The scheme was also initially initiated by the government with most rural parts of the country as Pilot project. The farmers were also offered with a 30 percent subsidy by the state government under the scheme. As the implementation of the process is now being offered under much wider platform so the government has announced to offer with 60 percent subsidy under the KUSUM scheme. The subsidy will be offered to the farmers by central and state government. The Discom that purchases power from the farmer will also be provided with incentive offer under the scheme.
- Capacity – With an aim to help implement the scheme the central government will be investing Rs 48000 crore for production of over 28250 MW solar powered pumps in the period of 10 years.
- Specifications – The scheme will be implemented with in four stages. The first stage is the procedure of distribution of the pumps manufactured 17.5 lakhs in number within nation. The next stage will be regarding the setting up of grid plants 10,000 MW capacity within various farm lands across the nation. In the next stage eh government will try and set up tube well of 8250 MW capacity while in the last stage the government will solarize other pumps that are used being used by the farmers for7250 MW capacity.
The above mentioned scheme has been implemented by the central government for benefit of the farmer. With the above mentioned scheme the farmer is expected to generate much better income for their farm lands.
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