Union Budget 2024-25: 1 crore homes to get free electricity up to 300 units under Surya Ghar Muft Bijli Yojana, announces Finance Minister

In line with the Interim Budget announcement in February this year, Union Finance Minister Nirmala Sitharaman on Tuesday announced the launch of Pradhan Mantri-Surya Ghar Muft Bijli Yojana  (PM Free Electricity scheme), to promote rooftop solar (RTS) installations in India by providing one crore households with free electricity for up to 300 units every month. Announced a slew of measures for the promotion of green growth and renewable energy, the Finance Minister said in her Budget 2024 speech, “The rooftop solar scheme has generated remarkable response with over 1.28 crore registrations and 14 lakh applications.”

A ₹75,021-crore package for the scheme was approved by the previous government in February this year. An official press release stated that the Centre wiould fund 60% of the cost for installing for 2 kW (kilowatt) systems and 40% of the cost for systems from 2-3 kW capacity.

Finance Minister Nirmala Sitharaman created history as she presented her seventh straight Budget and the first Budget by the BJP-led NDA government since it was re-elected last month. Ms. Sitharaman tabled the Economic Survey of the financial year 2024 in the Lok Sabha on Monday. The Survey projected India’s financial year 2025 Gross Domestic Product (GDP) growth to range between 6.5% and 7%. The growth projected for 2024-25 is lower than the economic growth rate of 8.2% estimated for the previous financial year.