‘Modifications in hydroelectric project scheme will accelerate infrastructure development in remote areas’: PM Modi

New Delhi (India), September 11 (ANI): Prime Minister Narendra Modi on Wednesday said that a new hydroelectric projects programme approved by the Cabinet will boost infrastructure development in remote areas of the country.

Taking to social media, the Prime Minister said, “The modifications in the hydroelectric projects scheme approved by the Cabinet will accelerate infrastructure development in remote areas. It will accelerate growth of hydropower, create employment and drive investment in the sector.”The Union Cabinet headed by Prime Minister Modi on Wednesday approved the Ministry of Power’s proposal to modify the budget support scheme for infrastructure cost enabling hydroelectric projects (HEP) at a total outlay of Rs 12,461 crore. The scheme will be implemented from fiscal year 2024-25 to fiscal year 2031-32.

The Government of India is taking several policy initiatives to address the challenges that are hampering hydropower development in remote and hilly locations. To promote the hydropower sector and make it more viable, the Cabinet in March 2019 approved measures, namely, declaration of large hydropower projects as renewable energy sources, Hydropower Purchase Undertakings (HPO), tariff rationalisation measures through tariff escalation, budgetary support for flood mitigation in HEP ​​storage facilities and budgetary support for supporting infrastructure costs, i.e. construction of roads and bridges.

This revised scheme would help in faster development of hydroelectric projects, improve infrastructure in remote and hilly project locations and provide a large number of direct jobs to the local population as well as indirect employment/entrepreneurship opportunities through transport, tourism and small businesses. It would encourage new investments in the hydroelectric sector and encourage timely completion of new projects. (ANI)