India runs various types of schemes for the economically weaker people of its country, which aim to help these people and improve their lifestyle. One such scheme is To promote renewable energy and reduce dependence on traditional fuel sources, the central and state governments have launched several initiatives. One of the most impressive schemes launched by the Government of India is the Pradhan Mantri Kusum Yojana, which is specially designed to benefit farmers across the country, let's know the complete details about it

Need for solar pump

Many farmers in India depend on diesel engines to pump water for irrigation, which costs a lot on fuel. The Pradhan Mantri Kusum Yojana aims to reduce this burden by encouraging the installation of solar pumps in agricultural fields, which will significantly reduce the need for diesel and the cost associated with it.

Main Benefits of Kusum Yojana

60% Subsidy: The government provides a generous subsidy of 60% on the cost of installing solar pumps. This makes it quite affordable for farmers to adopt solar-powered irrigation systems.

30% Loan Facility: Apart from the subsidy, the government also provides a 30% loan to farmers, which further reduces their financial burden.

Minimum Down Payment: With the loan facility, farmers have to pay only 10% of the total cost upfront. The combination of subsidy and loan makes it very easy for farmers to install solar pumps.

Extra Income Opportunity

Apart from the immediate benefit of reduction in irrigation costs, farmers can also earn additional income. The government will purchase this electricity at the rate of Rs 3.7 per unit, giving farmers an additional source of income.

Disclaimer: This content has been sourced and edited from [samacharnama].