The Union Cabinet approved five major development projects with a total financial outlay of Rs 4.50 lakh crore on Friday. Announcing the decisions during a media briefing, Union Minister Ashwini Vaishnaw stated that the high-impact projects span critical sectors including agricultural income support, renewable energy generation, maritime exploration, sports infrastructure, and transportation connectivity. The comprehensive approvals aim to drive national economic growth, accelerate clean energy transition, and enhance global competitiveness across multiple key sectors.
Five Year Extension for PM Kisan Samman Nidhi
Among the key approvals, the Cabinet granted a five year extension to the PM Kisan Samman Nidhi scheme, extending its implementation from financial year 2026-27 to 2030-31. The government has earmarked a massive budget of Rs 3.15 lakh crore to fund the scheme over this upcoming five year period. Under this initiative, eligible agricultural households receive direct income support of Rs 6,000 every year, transferred directly into their bank accounts via Direct Benefit Transfer in three equal installments of Rs 2,000 each.
This regular financial assistance is designed to support farmers during crucial crop sowing and harvesting cycles, reducing their dependence on high interest informal loans. Since its inception, the program has distributed Rs 4.47 lakh crore across 23 separate installments. The continued funding ensures direct, uninterrupted financial safety nets for small and marginal farmers across the nation.
PM Surya Sarovar Scheme to Scale Floating Solar Capacity
To accelerate India's renewable energy transition, the Cabinet sanctioned the PM Surya Sarovar Scheme with an allocated budget of Rs 5,070 crore. The initiative sets an ambitious target to build 5,000 MW of floating solar power capacity over the next five years. By deploying solar photovoltaic panels on existing water surfaces, the scheme completely eliminates the need for land acquisition, resolving a major bottleneck in renewable energy deployment.
In addition to power generation, placing solar panels on water reservoirs significantly minimizes water evaporation loss, ensuring greater availability of conserved water for agricultural irrigation. The initiative will also boost domestic manufacturing of floating solar equipment, create approximately 17,000 new employment opportunities, and substantially cut greenhouse gas carbon emissions.
Major Funding for Infrastructure, Ocean Research, and Sports
The Cabinet also greenlit substantial financial allocations across infrastructure, ocean exploration, and sports development. To promote sports across the country and empower athletes, the government allocated Rs 36,441 crore toward the Khelo India initiative and the National Sports Federation scheme. For marine research and ocean development, the Samudra Manthan Project received a significant approval of Rs 84,084 crore.
Furthermore, to strengthen national infrastructure and improve regional connectivity, the Cabinet approved Rs 9,779 crore for the construction of a Twin Tube Tunnel project. Union Minister Ashwini Vaishnaw emphasized that these multi-sectoral investments aim to accelerate economic momentum, build resilient infrastructure, and elevate Indian industries to global competitive standards.
