PM SURYA GHAR MUFT BIJLI YOJANA (Syllabus: GS Paper 3 – Economy)

Context: The Prime Minister of India recently announced the launch of PM Surya Ghar Muft Bijli Yojana, a rooftop solar scheme for free electricity.

PM Surya Ghar: Muft Bijli Yojana 

• Announced: It is a free electricity scheme that was earlier announced by the Finance Minister in her interim budget speech on February 1.
• Launched: To promote sustainable development designed to alleviate the financial burden on citizens, will offer substantial subsidies directly deposited into the beneficiaries' bank accounts.
• Funding: This initiative, backed by an investment exceeding Rs. 75,000 crores, 
• Aim: To illuminate one crore households by providing up to 300 units of free electricity monthly.
• Direct Subsidies and Concessional Bank Loans: To ensure financial ease for citizens, the Central Government plans to offer substantive subsidies directly to individuals' bank accounts. 

oAdditionally, heavily concessional bank loans will be provided, ensuring no undue financial burden on the people. The integration of all stakeholders into a National Online Portal will further enhance convenience.

• Grassroots Promotion through Incentives: To popularize the scheme at the grassroots level, Urban Local Bodies and Panchayats will be incentivized to promote rooftop solar systems within their jurisdictions. Simultaneously, the initiative is expected to result in increased income, reduced power bills, and the generation of employment opportunities for the population.