Tech Budget 2024: FM Nirmala Sitharaman announces 300 units of free electricity with rooftop solarization

Tech Budget 2024: Today, Finance Minister Nirmala Sitharaman announced the interim budget for 2024-25 with the aim of fostering and speeding up the greater development of India. As part of the announcement, Sitharaman highlighted the installation of rooftop solarization in 1 crore households which will help obtain up to 300 units of free electricity every month. FM further said, “This scheme follows the resolve of the Prime Minister on the historic day of the consecration of Shri Ram Mandir in Ayodhya.” This move will improve India’s sustainability goals.

Tech Budget 2024

The Finance Minister while presenting the interim budget 2024 announcement talked about the rooftop scheme following the resolve of the Prime Minister. The new scheme will empower 1 crore households with a rooftop solar energy system which will enable them to generate up to 300 units of free electricity every month.  Sitharaman added, “Savings up to Rs. 15000 - Rs18,000 to households from free solar electricity and selling surplus to discoms” Live Mint quoted. 

Earlier Prime Minister Narendra Modi made a similar announcement under the Pradhanmantri Surodaya Yojna. This move will help low and middle-income households to save a huge amount on electricity bills. This may also result in enhanced investment for the Ministry of New & Renewable Energy.  Under the Pradhanmantri Surodaya Yojna, it will also aid in charging of electric vehicles entrepreneurship opportunities in manufacturing, installation, and maintenance, PTI reported. “Viability gap funding will be provided for harnessing offshore wind energy potential for initial capacity of 1 GW” said Finance Minister. 

Note the interim budget for 2024 will first be approved by the Parliament and the final budget for 2024-25 will be announced after the new administration takes charge which is after the final result of the upcoming election. This is expected to happen in June, 2024. While presenting the interim budget 2024, FM also announced increased investments in the electric vehicle (EV) ecosystem, new schemes for deep tech for defence purposes under the Aatmanirbhar Bharat infrastructure. Now, the final budget will reveal more about the tech investments and steps to improve Indian startups and artificial intelligence technology.