Approx Rs. 50,000 crore saves in electricity bills with LED bulbs: Finance Minister

He also thanked the taxpayers saying, “Your tax pays for the electrical connections to the poor who lived in darkness for generations”.

"Interim Budget 2019-20 is historic, it's people friendly and forward-looking. It provides assistance to all sectors which need assistance at the same time maintaining fiscal prudence", said Shri RK Singh, Union Minister of State (IC) for Power and New & Renewable Energy here today. He expressed hope that the Budget would be able to bring a smile to every face.

India's electrification success found a special mention in Finance Minster's Budget speech. He said, "Till the year 2014, about 2.5 crore families were forced to live the life of 18th century without electricity. Under 'Saubhagya Yojna', we provided free electricity connection to almost every household. By March 2019, all willing families will get an electricity connection."

He also thanked the taxpayers saying, "Your tax pays for the electrical connections to the poor who lived in darkness for generations".

Commenting on UJALA scheme, the Finance Minister said that 143 crores LED bulbs have been sold with the combined efforts of the Government and private sector and this has resulted in a savings of approximately Rs. 50,000 crore per year in electricity bills for poor and middle-class families.

He also stressed upon Electric Vehicles and Renewables to make India a pollution free nation. Citing the International Solar Alliance as an example for India's commitment towards clean energy, the Finance Minister said that, "India's installed solar generation capacity has grown over ten times in last five years. This sector is now creating lakhs of new age jobs."

(With Inputs from PIB)