Cabinet's Revised Hydroelectric Scheme to Boost Development in Remote Areas

Prime Minister Modi announced the Cabinet's approval of a new hydroelectric projects scheme with an outlay of Rs 12461 crore, aimed at boosting infrastructure in remote areas, creating jobs, and attracting investments. The scheme will be implemented from FY 2024-25 to FY 2031-32.

Prime Minister Narendra Modi announced on Wednesday that the Cabinet has approved a new hydroelectric projects scheme, which aims to enhance infrastructure development in the country's remote regions. In a statement on social media platform X, Modi emphasized that the scheme will stimulate hydropower growth, generate employment, and attract sectoral investments.

The Union Cabinet, chaired by Prime Minister Modi, sanctioned a proposal from the Ministry of Power to modify the budgetary support scheme for hydroelectric project infrastructure, amounting to Rs 12461 crore. This initiative will span from the fiscal year 2024-25 to 2031-32. The Indian government has undertaken various policy measures to facilitate hydropower development in isolated and mountainous areas, including recognizing large hydro projects as renewable energy sources and implementing hydropower-specific purchase obligations and tariff rationalizations.

The updated scheme is expected to expedite hydroelectric project development, enhance infrastructure in remote and hilly areas, and create multiple employment opportunities for local populations. Additionally, it will foster new investments in the hydropower sector and encourage the timely completion of ongoing projects.

(With inputs from agencies.)