Credit scheme to encourage domestic solar electricity generation
Budget Speech para. 411: "To further encourage the transfer to solar energy for households with a monthly electricity bill of over Rs. 2,000, I encourage the Banks to introduce a credit scheme to such consumers. Government will bear 50 percent interest cost on a credit limit of Rs. 150,000. For this purpose, I propose to allocate Rs. 1,500 million."
Promise Revised: The credit limit of the loan has been increased from Rs. 150,00 to Rs. 350,000.
Allocation (Rs. Mn) : 1,500
Sector : Environment
Ministry / Government Institution : Ministry of Power and Renewable Energy
Extensive information on the project was provided upon the RTI request. Details about the loan scheme is available online.
The promise is to issue 1,000,000 loans by 2020. As of 25 August 2017, a total of 122 loans have been issued.