Cabinet on Friday clears PM Kusum scheme under which solar powered irrigation pumps will be provided to farmers.
Sources informed that as many as 10,000 farmers in Karnataka will get the benefit of PM Kusum yojana the for agricultural works. Furthermore, the solar panels will be set up in the fields of cultivators to help them generate power for their IP sets.
The centre and the state would bear the 30% cost of these solar powered IP sets while the farmers would pay the 40% of the cost in form of bank loans.
Sources said that the total cost of the project will be around Rs. 30,723 crore, the State would contribute Rs, 10,697 crore and the remaining cost would be borne by the Centre.
The solar power would be given to only the new IP sets and not to those who have already energized their IP sets, told the sources.
The beneficiaries under PM Kusum scheme would be selected through online mode by the Karnataka Renewable Energy Development Corporation Ltd. (KPCL).
The programe is being seen as a win-win plan for both the farmers as well as Escoms. While the farmers can run their IP sets without depending on the supply from Escoms that have staggered the supply to farm sector, the Escoms will be relieved of the power load and the expense incurred on extending its power network till farmers’ fields. It will also save the costs being incurred on subsidy for the government.
Besides this the State Cabinet also agreed to give a guarantee for the KPCL to borrow Rs. 2,500 crore from banks or financial institutions.
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