New Delhi | In a bid to boost solar power and sustainable progress, Prime Minister Narendra Modi on Tuesday announced that his government is launching the 'PM Surya Ghar: Muft Bijli Yojana' which aims to light up one crore households by providing up to 300 units of free electricity every month.

Modi said the project would entail an investment of over Rs 75,000 crore.

"In order to further sustainable development and people's wellbeing, we are launching the PM Surya Ghar: Muft Bijli Yojana. This project, with an investment of over Rs 75,000 crore, aims to light up 1 crore households by providing up to 300 units of free electricity every month," the prime minister said on X.

From substantive subsidies, which will be given directly to people's bank accounts, to heavily concessional bank loans, the central government will ensure that there is no cost burden on the people, he said.

All stakeholders will be integrated to a National Online Portal, the prime minister added.

Modi said that in order to popularise this scheme at the grassroots, urban local bodies and panchayats shall be incentivised to promote rooftop solar systems in their jurisdictions.

"At the same time, the scheme will lead to more income, lesser power bills and employment generation for people," the prime minister said.

"Let's boost solar power and sustainable progress. I urge all residential consumers, especially youngsters, to strengthen the PM - Surya Ghar: Muft Bijli Yojana by applying at -- https://pmsuryaghar.gov.in," Modi said.