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
Openness Tracker Open
The Ministry has provided sufficient information to determine progress.
Progress Tracker Fulfilled
The loan scheme is in place. 298 loan applications have been registered as at the end of 2017. Rs.128,442.67 has been paid as interest subsidy.
Sources of Information