1. Agriculture World

Government Schemes To Boost Farmer's Income

Pronami Chetia
Pronami Chetia
money
Indian currency

Farmers in India play an important role in the growth of the country's economy because it is an agrarian country where half of the population still depends on agriculture. However, half of the agricultural population is still struggling with poverty, bad weather, and water scarcity.

In response to these issues, the national government launched the PM Kusum programme (Pradhan Mantri Kisan Urja Suraksha evemUtthanMahabhiyan) to eliminate water shortages in farmlands throughout distant areas using solar pumps.

The Modi government has established this new initiative not only to address water issues, but also to enhance farmer income. This strategy has the potential to treble farmers' revenue. The PM Kusum Yojana was recently introduced by the Central Government as part of the Garib Kalyan Rojgar Abhiyan.

This program assists farmers in installing solar panels on the unused property. Farmers can generate their own electricity to irrigate their farms using solar panels. Aside from that, they can make money by selling extra electricity. Farmers are only required to charge 10% of the entire cost under this arrangement.

The remaining 90 percent subsidy will be provided by the government in the farmers' account. PM-Kusum yojana registration can be done by visiting the official website.

Let's know about this scheme in detail.

Produce electricity from solar panel

Farmers irrigate their crops with electric or diesel-powered motor pumps. Farmers' crops may be ruined if they do not use motor pumps if there is insufficient rain. Farmers can use the electricity generated by installing solar panels to power motor pumps. As a result, this will save money on electricity and diesel.

You can earn from selling electricity

Once installed, the solar panel will last for 25 years. Sunlight is used to generate electricity in this system. Farmers can utilize the power generated by the solar panels to power their motor pumps and other needs; if extra power is generated, they can sell it to the Electricity Distribution Company (DISCOM). Farmers may be able to earn a substantial amount of money as a result of this.

Loan and subsidy facility

The scheme is regulated by the Government of India's Ministry of Rural Development. The central government would pay a 30% discount on the entire cost of installing solar panels under the PM-Kusum plan, while the state government will also provide a 30% subsidy.

Banks can lend up to 30% of the total cost of installing solar panels. Farmers will just have to invest 10% of their income in this manner.

No maintenance expenses

There is no cost to maintain the solar panel once it is installed. A solar panel has a 25-year lifespan. After ten years, the battery only needs to be replaced once. The farmers may repay the bank debt in 5-6 years by selling excess solar power.

Better for the environment

Solar panels are being promoted by the government since they are environmentally friendly. There are no additional costs associated with producing electricity from natural sources. Farmers may utilize the electricity generated by this to power a variety of appliances in their houses.

Benefits of PM Kusum Yojana

The Kusum scheme of the central government is better in many ways from getting free electricity for irrigation to earn good money by selling it to the power grid. If a farmer has barren land, it can be used to install more solar panels.

(Also read: Best Government Schemes and Programs In Agriculture For Farmers

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