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Prime Minister Narendra Modi said on Wednesday that the new Hydroelectric Projects scheme approved by the Cabinet will boost infrastructure development in remote areas of the country.
Taking to the social media platform X, the PM 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 a large number of direct employment to the local people along with indirect employment / entrepreneurial opportunities through transportation, tourism, small-scale business. It would encourage fresh investments into the hydropower sector and incentivise the timely completion of new projects. (ANI)
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