Prime Minister Narendra Modi Announces New Hydroelectric Projects to Boost Remote Areas
Prime Minister Narendra Modi announced on Wednesday that the Cabinet has approved a new scheme for hydroelectric projects. This scheme aims to boost infrastructure development in remote areas of the country.
Taking to the social media platform X, PM Modi said, “The modifications in the Hydroelectric Projects scheme approved by the Cabinet will boost infrastructure development in remote areas. It will accelerate hydropower growth, create jobs and drive investments in the sector.”
On Wednesday, the Union Cabinet chaired by PM Modi approved the proposal of the Ministry of Power for modification of the scheme of budgetary support for the cost of enabling infrastructure for hydroelectric projects (HEP) with a total outlay of Rs 12461 crore. The scheme would be implemented from FY 2024-25 to FY 2031-32.
The Government of India has been taking several policy initiatives to address the issues impeding hydropower development in remote locations and hilly areas. To promote the hydropower sector and to make it more viable, the Cabinet in March 2019 approved measures, namely declaring large hydropower projects as renewable energy sources, hydropower Power Purchase Obligations (HPOs), tariff rationalization measures through escalating tariff, budgetary support for flood moderation in storage HEP and budgetary support for the cost of enabling infrastructure, i.e., construction of roads and bridges.
This revised scheme would help in the faster development of hydroelectric projects, improve infrastructure in the remote and hilly project locations and create a large number of direct employment opportunities for local people along with indirect employment and entrepreneurial opportunities through transportation, tourism, and small-scale businesses. It would encourage fresh investments into the hydropower sector and incentivize the timely completion of new projects.
Doubts Revealed
Prime Minister Narendra Modi -: Narendra Modi is the current Prime Minister of India. He is the leader of the country and makes important decisions for the nation.
Hydroelectric Projects -: Hydroelectric projects use the energy from flowing water to generate electricity. This is a way to produce power without using fossil fuels.
Remote Areas -: Remote areas are places that are far away from cities and towns. These areas often have less access to infrastructure and services.
Cabinet -: The Cabinet is a group of senior government officials chosen by the Prime Minister. They help make important decisions and policies for the country.
Scheme -: A scheme is a plan or program created by the government to achieve a specific goal. In this case, the goal is to develop hydroelectric projects.
Rs 12461 crore -: Rs 12461 crore is a large amount of money. In India, ‘Rs’ stands for Rupees, which is the currency used in the country. A crore is equal to 10 million.
FY 2024-25 to FY 2031-32 -: FY stands for Fiscal Year, which is a one-year period used for budgeting and financial purposes. FY 2024-25 means the year starting from April 2024 to March 2025.
Hydropower -: Hydropower is electricity generated using the energy of moving water. It is a renewable source of energy, meaning it can be used again and again.
Renewable Energy Sources -: Renewable energy sources are types of energy that can be replenished naturally, like sunlight, wind, and water. They are better for the environment compared to fossil fuels.
Budgetary Support -: Budgetary support means providing money from the government’s budget to help fund projects or programs. This helps ensure that the projects can be completed successfully.
