Cabinet approves projects, schemes worth ₹4.5 lakh crore

The Union Cabinet today approved schemes and projects worth ₹4.5 lakh crore. The schemes approved by the Cabinet today included Pradhan Mantri Surya Sarovar Yojana (PM-SSY) worth ₹5,070 crore, extension of PM Krishi Samman Nidhi worth ₹3.15 lakh crore and Samudra Manthan scheme worth ₹84,000 crore, among others.

“India has highest per capita solar capacity. PM-SSY scheme has been rolled out to use water bodies for solar potential in India. Under the scheme the water bodies such as dams, lakes, will be leveraged to create solar capacity. the scheme targets to establish 5000 MW of Floating Solar PV capacity in the country – a seven-fold increase over the current capacity in the next five years,” said union minister Ashwini Vaishnaw.

Floating Solar PV system is mounted on plastic structures which floats atop the water bodies. “The approval follows the recent assessment undertaken by the National Institute of Solar Energy (NISE), which has estimated a floating solar potential of approximately 102.18 GWp across reservoirs and other suitable inland water bodies in the country,” the government said in s statement.

“Under the scheme, Central Financial Assistance (CFA) of Rs one crore per MW will be provided for eligible projects after successful commissioning.

The Union Cabinet also approved 'Samudra Manthan' – the National Offshore Exploration Scheme, a central sector scheme of the ministry of petroleum & natural Gas with an approved outlay of ₹84,084 crore for implementation up to FY 2030–31.

“It marks a landmark step towards strengthening India's energy security, accelerating domestic exploration and production, promoting technological leadership, and advancing the vision of Viksit Bharat,” a government release said.

“The Scheme encompasses a comprehensive set of interventions across the offshore exploration value chain. It provides for large-scale acquisition, processing and interpretation of high-quality seismic data, accelerated deepwater and ultra-deepwater exploratory drilling, scientific drilling in frontier basins, development of common offshore production and evacuation infrastructure, and establishment of an integrated oil & gas manufacturing and services zone,” it said.  

The cabinet also approved the extension of Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme from 2026–27 to 2030–31. “A total financial outlay of ₹3.15 lakh crore has been approved for the Scheme during this period,” the government release said. The PM-KISAN Scheme was launched in February 2019. Under the Scheme, eligible landholding farmer families receive financial assistance of Rs.6,000 per year, transferred directly into their bank accounts in three equal instalments.