India-US Track II Dialogue on Climate Change and Energy
The Union Budget for 2024-25 presented on 23 July allocated Rs 19,100 crore (191 bn) to the Ministry of New and Renewable Energy, a 143% increase over the Revised Estimates for 2023-24. The increase is primarily due to the allocation of Rs 6,250 crore (62.5 bn) for the PM Suryaghar Muft Bijli Yojana, a scheme to provide free power up to 300 units monthly to 1 crore (10 mn) households through rooftop solar panels. The scheme was announced by Prime Minister Narendra Modi in January and will provide a major new impetus to the promotion of decentralized solar power in the country. The Budget has also expanded the list of exempted capital goods for use in the manufacture of solar cells and panels in the country.
