Solar push in Budget 2024: 1 crore households to get 300 units of free power

New Delhi: Finance Minister Nirmala Sitharaman on Tuesday announced the launch of PM Surya Ghar Muft Bijli Yojana, aiming to instal solar panels in 1 crore households for providing 300 units of free electricity every month.

Presenting Union Budget 2024-25, Sitharaman said the scheme has generated remarkable response with more than 1.28 crore registrations and 14 lakh applications, and we will further encourage it.

"In the interim budget, I had announced our strategy to sustain high and more resource-efficient economic growth, along with energy security in terms of availability, accessibility and affordability," she added.

The 2023-24 Budget allocated Rs 7,327 crore to solar projects. The Pradhan Mantri Suryodaya Yojana, announced in January, complements the 2014 Rooftop Solar Programme aimed at 40 GW by 2022.

Sitharaman has also proposed to expand the list of exempted capital goods used in manufacturing solar cells and panels.

Projecting nuclear energy as a significant part of the energy mix for Viksit Bharat, the FM said, "Towards that pursuit, our government will partner with the private sector for setting up Bharat Small Reactors, research & development of Bharat Small Modular Reactor, and research & development of newer technologies for nuclear energy.”

"The R&D funding announced in the interim budget will be made available for this sector," she added.

The Finance Minister informed that the development of indigenous technology for Advanced Ultra Super Critical (AUSC) thermal power plants with much higher efficiency has been completed.

A joint venture between NTPC and BHEL will set up a full scale 800 MW commercial plant using AUSC technology, she added.