Launched in March 2019 by the Ministry of New and Renewable Energy (MNRE), the PM-KUSUM Scheme is also called Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan Yojana.
In this way, more sustainable and eco-friendly agriculture could be achieved by subsidising farmers to install solar irrigation pumps. The solar pumps are designed with a total cost scheme in which the government provides a 60% subsidy and a 30% loan, while farmers cater for only 10%.
Read the article to learn more about the PM KUSUM Solar Pump, ranging from its meaning and benefits to eligibility criteria and application process.
PM KUSUM Yojana: Overview
The table below summarises some key details about the Kusum Yojana that one should know.
| Name of the scheme | PM-KUSUM Scheme |
|---|
| Full form | Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan Yojana |
| Launched in | 2019 |
| Ministry | Ministry of New and Renewable Energy (MNRE) |
| Objective | To promote solar energy among farmers and increase their incomes |
| Target group | Farmers across India |
| Mode of application | Online through the PM-KUSUM Portal |
| Benefits | Switch to solar energy, reduce irrigation costs, etc. |
What Is The PM-KUSUM Scheme?
The Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan Yojana, also known as the PM-KUSUM scheme, was launched in 2019 by the Indian government under the Ministry of New and Renewable Energy (MNRE). The Kusum Yojana aims to encourage farmers to opt for renewable sources of energy now rather than traditional sources, which damage the planet’s health.
This government scheme is an effort by the government of India to shift the working of various sectors from non-renewable sources of energy to renewable sources of energy, such as solar energy, as they are not only sustainable but beneficial in the long run.
Read More: Future Of Indian Agriculture With The Agricultural Infrastructure Scheme
Objectives Of The PM-KUSUM Scheme
As the main objective, the PM KUSUM Solar Pump introduces advanced technology to farmers, reducing their dependence on diesel and improving irrigation through sustainable methods. Its goals are:
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Solar-powered irrigation: Solar pumps generate cleaner energy, making them environmentally friendly.
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Improved farmers’ income: By allowing farmers to sell excess power generated by solar plants back to the government, their income is supplemented.
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Increased agricultural productivity: Technology-based farming enhances farm productivity and sustainability.
Components Of The PM-KUSUM Scheme
The following components that make up the PM KUSUM Solar Pump Scheme are mentioned below in brief for one’s better understanding:
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Component A: Installation of grid-connected stilt-mounted decentralised solar plants as well as other renewable-energy-based power plants that have a capacity range between 500 kW to 2 MW, totalling about 10 GW.
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Component B: Stand-alone systems with capacities up to 7.5 HP benefitting individual farmers.
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Component C: Financing ten lakh grid-connected MS/HP for installation, each with a capacity of up to 7.5 HP.
Read More: Krishi Yantra Subsidy Scheme: Agriculture With Innovative Farming Tools
Benefits Of The PM-KUSUM Solar Yojana
Farmers stand at an advantage under the PM Kusum Yojana due to several reasons. Some of the major benefits of the Utthaan Mahabhiyan Yojana are:
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Substantial Subsidy: Government funding, constituting a 60% subsidy and a loan amounting to 30% reduces the financial burden for farmers, leaving only about 10%.
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Increased Energy Production: This results from greater potential energy yield by solar pumps/plants compared to diesel pumps, thereby promoting a greener environment.
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Income Generating: The farmers can sell excess power to the government, and this is another source of revenue for them.
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Utilisation of Barren Land: Under the Kusum Yojana, farmers can use barren or uncultivated land for setting up solar plants, ensuring a stable income for up to 25 years.
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Continued Cultivation: It allows farmers to keep growing crops underneath solar plants as long as there is are minimum height
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Pollution Mitigation: Under the PM Kusum Yojana, farming pollution can be reduced by using more renewable energy sources.
Comparison Of Business Loan Interest Rates Offered By Top Banks/NBFCs
We have compiled a list of business loan interest rates provided by various top banks/NBFCs for your ease. This will help you in making informed decisions:
| Bank/NBFCs | Rate of Interest |
|---|
| Axis | 10.75% p.a. |
| Flexiloans | 1% p.a. |
| HDB Financial Services Ltd. | 8% - 26% p.a. |
| HDFC | 10.75% - 25% p.a. |
| Indifi | 1.50% p.a. |
| Kotak Mahindra | 16% - 26% p.a. |
| Lendingkart | 12% - 27% p.a. |
| Mcapital | 2% p.a. |
| Neogrowth finance | 15% - 40% p.a. |
| Tata Capital | 12% p.a. |
| UGRO Capital | 9% - 36% p.a. |
Eligibility Criteria For The PM-KUSUM Solar Yojana
Interested individuals first need to ensure whether they fit into the eligibility criteria of the PM Solar Pump Yojana or not. The eligibility criteria are as follows:
Application Process For The PM-KUSUM Solar Yojana
To apply for the Pradhan Mantri Kisan Urja Suraksha Evam Utthan Mahabhiyan scheme, follow these steps:
Step 1: Go to the PM KUSUM Yojana official website and visit the PM KUSUM Yojana Registration section.
Step 2: After the PM KUSUM Yojana login, fill in the required information in the registration form provided.
Step 3: Read and accept the declaration and then submit it.
Step 4: Log in to the Solar Agricultural Pumpset Subsidy Scheme 2021 portal.
Step 5: Therefore, fill in the correct details on the online application form, attach all necessary documents, and click submit. One can also check the PM-KUSUM yojana status through the same portal
What Are The Documents Required For The PM-KUSUM Solar Yojana?
Applicants need to provide the following necessary documents to apply for the PM Solar Pump Yojana:
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Aadhaar card
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Land records, which include Khasra Khatauni.
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Bank account passbook.
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The format of the declaration form must be filled in.
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The mobile phone number.
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While filling out the form, make sure you attach a passport-size photo.
List Of State-Wise Implementing Agencies
The table below explicitly mentions the state-wise implementing agencies of the PM Solar Pump Yojana:
| State | Implementing Agency |
|---|
| Assam | Assam Power Distribution Company Limited |
| Chhattisgarh | Chhattisgarh State Power Distribution Company Limited |
| Delhi | Concerned electricity distribution company |
| Haryana | Dakshin Haryana Bijli Vitran Nigam (DHBVN) & Uttar Haryana Bijli Vitran Nigam (UHBVN) |
| Goa | Goa Energy Development Agency |
| Gujarat | Gujarat Energy Development Agency |
| Himachal Pradesh | HIMURJA |
| Jammu & Kashmir | Jammu And Kashmir Energy Development Agency (JAKEDA) |
| Jharkhand | Jharkhand Bijli Vitran Nigam Limited (JBVNL) |
| Kerala | Kerala State Electricity Board (KSEB) |
| Madhya Pradesh | Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL) |
| Meghalaya | Meghalaya Energy Corporation Limited (MeECL) |
| Odisha | Orissa Renewable Energy Development Agency (OREDA) |
| Puducherry | Puducherry Electricity Department |
| Punjab | Punjab Energy Development Agency (PEDA) |
| Rajasthan | Rajasthan Renewable Energy Corporation Limited (RRECL) |
| Tamil Nadu | Tamil Nadu Generation & Distribution Corporation Ltd. (TANGEDCO) |
| Telangana | Telangana State Renewable Energy Development Corporation Ltd. (TSREDCO) |
| Tripura | Tripura State Electricity Corporation Ltd. (TSECL) |
| Uttar Pradesh | Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) |
Conclusion
The PM-KUSUM Scheme is a revolutionary innovation that encourages sustainable farming practices and motivates farmers to use renewable energy. By giving massive subsidies and financial aid, the government aims to make green technology accessible to all farmers, whether big or small, and aims to improve the conditions of farmers, along with achieving national environmental goals. It is high time to adopt greener measures to save the planet Earth and this government scheme by the Indian government is a step in the right direction.
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