The PM Kusum Yojana is going to provide favorable prospects to farmers of Bihar as banks would provide loans for setting up the solar plant on their lands. This power plant project will focus on the utilization of solar energy in farming, which clearly depicted the cooperation between both the central and state governments in adding value to the economically backward farmers as well as encouraging the use of renewable energy in the regional areas.
PM Kusum Yojana
According to the PM Kusum Yojana, farmers can install the power plants as a source of energy for farming as well as generate extra income from selling any excess power to the electricity companies. This is in line with the government’s general vision of improving food production and production efficiency through use of practices that do not harm the Environment and the reduction of the use of traditional energy sources.
PM Kusum Yojana bank loan
The scheme’s operations require working with some of the largest banks, which makes loans easily accessible to farmers who want to use solar equipment. State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Central Bank, Union Bank of India, Bank of India, Bank of Maharashtra and Indian Overseas Bank are some of the enlisted banks for disbursement of loans to meet the requirements of farmers investing in solar equipment.
These banks were included after a meeting was presided by Sanjeev Hans, Chairman and Joint Manager of Bihar State Power Holding Company Limited in Electricity Building at Patna. This has remained a strategic plan that helps the company to easily approve loans and offer financial support to farmers in Bihar.
Since the agricultural sector plays a prominent role in Bihar, PM Kusum Yojana is expected not only to increase farm yields but also support sustainable extraction, thereby lowering carbon emissions related to typical power sources. Thus, the use of solar energy allows farmers to reduce the operating costs, increase the effectiveness of irrigation infrastructure, and increase agricultural productivity to promote rural development and responsible attitude towards the environment.
Therefore, it is clear that the PM Kusum Yojana holds the potential to bring a positive change for Bihar’s farming community by providing the roadmap towards economic viability, energy security, and environmental revolution through the use of solar energy technology.
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