Budget 2024-25 allocates funds for key power projects

The Budget 2024-25 has allocated funds for various power projects, including thermal, transmission, and hydro.

Rs 2.51 billion is set for the Power Sector Reform Program (Subprogram 1). The Kudankulam Nuclear Power Plant has received Rs 10.19 billion and Rs 8.77 billion for Units 3 and 4, and Rs 19.69 billion and Rs 26.28 billion for Units 5 and 6.

Distribution and transmission projects include Rs 3.25 billion for Meghalaya, Tripura, and Assam, Rs 7.39 billion for Uttar Pradesh, and Rs 4.78 billion for West Bengal. The Tamil Nadu Green Energy Corridor III (GEC-III) Project and energy efficiency initiatives have received Rs 1.58 billion and Rs 1.11 billion, respectively.

Hydropower allocations include Rs 1.86 billion for the Deothal Chanju and Chanju-III projects, Rs 1.4 billion for the Umiam Umtru Stage-III renovation, and Rs 3 billion for Himachal Pradesh’s power sector development.

The Government of India has also set a 100,000 MW nuclear power target by 2047 and launched a Nuclear Energy Mission with Rs 200 billion for Small Modular Reactors (SMRs), aiming for at least five indigenous SMRs by 2033 in partnership with the private sector.