Shakti Pumps plans growth, pins hopes on PM-KUSUM scheme

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NEW DELHI: (India) on Sunday mentioned it’s planning enterprise growth subsequent 12 months as the corporate eyes an even bigger share within the Centre‘s PM-KUSUM scheme of photo voltaic water pumps.

Underneath the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM), launched in February 2019, each Centre and states present subsidy to farmers for set up of photo voltaic pumps. It’s being carried out via tendering in phases.

Talking to PTI, Shakti Pumps Chairman and Managing Director Dinesh Patidar mentioned: “The scheme has nice potential as diesel pumps are unviable for farmers and electrical pumps have limitations. We anticipate to provide extra pumps beneath the scheme. We’re increasing our capability subsequent 12 months.”

The funding will probably be made on working capital and capacity expansion. The funding quantity, nonetheless, will probably be determined subsequent 12 months, he added.

Patidar additional mentioned the PM-KUSUM scheme is doing properly as within the first 12 months of the implementation, 50,000 photo voltaic agricultural pumps have been put in throughout the nation in opposition to a goal of 1 lakh set for the 2020-21 fiscal.

“We put in 15,000 photo voltaic pumps beneath the scheme. We predict extra demand within the coming years as consciousness concerning the scheme grows.”

For the second 12 months, the federal government goal is 4 lakh agriculture photo voltaic pumps.

Shakti Pumps is a producer and exporter of stainless-steel water pumps, motors and photo voltaic pumps.

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