PM Kusum Yojana – A Scheme To Help Farmers Grow Their Income

The PM Kusum Yojana helps the farmers to get renewable energy for irrigation and also increases their income. The scheme encourages farmers to install solar pumps to meet their irrigation needs. Each farmer will receive 60% subsidy on installing tubewells and pump sets. They will also receive a 30% loan of the overall expense from the government.

PM Kusum Yojana – An Overview

Scheme name – PM Kusum Yojana

Scheme modification date – Launch date March 2019, Guidelines got framed in July 2019

Scheme fund allocated – Rs. 34,422 Crore

Type of Government Scheme – Central Government

Website to apply – https://pmkusum.mnre.gov.in/

Helpline nos – 011-24365666

Components of the PM Kusum Yojana

The scheme has three components:

Sl. Nos	Components	Details
1	Component A	Adding 10,000 MW of solar capacity by installing small solar power plants up to 2 MW.
2	Component B	Installation of 17.50 lakh standalone Solar Powered Agriculture Pumps of individual pump capacity up to 7.5 HP.
3	Component C	Solarization of 10 lakh current Grid-connected Agriculture Pumps.

Features of the PM Kusum Yojana

Sl. Nos	Details about the PM Kusum Yojana
1	How much cost do the farmers have to pay?	The farmers need to pay only 10% of the installation cost.
2	How much loans will the bank offer?	Under the scheme, the banks will provide 30% of the income. Also, the federal government will provide a subsidy payment through a bank account.
3	How much will the government funding cover?	About 60% of the overall cost of the pumps.
4	How much space is needed for 1 MW?	It will require approximately 5 acres.
5	What is the installation type?	It is ground-mounted.

 

What are the benefits of the PM Kusum Yojana for farmers?

The advantages of the PM KUSUM Yojana for farmers are:

• It provides farmers with a risk-free income source.
• It prevents groundwater overuse.
• Farmers have a constant electricity supply.
• It brings down the carbon footprint of the agricultural sector.
• It brings down the farm power subsidy cost.

What are the drawbacks of the scheme?

Some of the drawbacks of the PM Kusum Yojana are:

• Water table depletion
• Unavailability of the solar pumps
• Marginal and small farmers aren’t able to use it

How to apply for the PM Kusum Yojana?

Farmers can apply for the scheme by taking the following steps:

Step 1 – Visit the official website and click on the registration option.

Step 2 – Fill out the registration form with the required details.

Step 3 – Check all the declaration boxes and submit them.

Step 4 – Once the registration is complete, log in to Solar Agricultural Pumpset Subsidy Scheme 2021.

Step 5 – Share all the required data correctly in the application form, attach the necessary documents and submit.

What documents do you need?

• Aadhar card
• A bank account passbook
• A land document with Khasra Khatauni
• Mobile number
• A declaration form
• Passport size photo

The PM Kusum Yojana creates employment opportunities for farmers and other workers. The studies show that close to 25.50 job gets created every MW small solar installation capacity. The other advantages that farmers can witness include water security, water conservation, and energy efficiency.

Note: The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial or legal advice. Pesticides are a considerable risk of loss in crops and viewers are advised to do their own research before making any decisions.