"The Ministry of New and Renewable Energy is implementing programme for installation of 1,00,000 solar pumps for irrigation and drinking water through State Nodal Agencies and NABARD," Power, Coal and New & Renewable Energy Minister Piyush Goyal said in a written reply in the Lok Sabha.
He further said that the ministry provides 30 per cent capital subsidy to farmers for installation of solar pumps for irrigation purpose through state nodal agencies.
The state governments may also provide additional subsidy through own funds.
He further said: "The ministry has issued supplementary guidelines for 1,00,000 solar pumps during 2014-15 and Rs 353.50 crore was released to various agencies. Till now 63,436 pumps were sanctioned to various state government agencies and 30,000 solar pumps were sanctioned to NABARD."
The state governments are subsidising solar pumps so that farmers take this up in a big way. MNRE has also made provision in guidelines for injection of surplus power in the grid so that farmers can get some returns on the investment.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
