New Delhi: The Union Cabinet on Friday approved several major flagship initiatives spanning agriculture, sports, renewable energy and offshore exploration, committing investments of over ₹4 lakh crore as part of the Centre’s long-term strategy to accelerate economic growth and advance the vision of Viksit Bharat 2047.
The decisions, taken at a meeting chaired by Prime Minister Narendra Modi, include the continuation of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme, expansion of the Khelo India Scheme, launch of the Pradhan Mantri Surya Sarovar Yojana (PM-SSY) for floating solar projects, and the Samudra Manthan National Offshore Exploration Scheme.
PM-KISAN Gets ₹3.15 Lakh Crore Allocation
The Cabinet approved the continuation of the PM-KISAN scheme from 2026-27 to 2030-31 with an outlay of ₹3.15 lakh crore. Introduced in February 2019, the scheme provides eligible landholding farmer families with ₹6,000 annually in three equal instalments through the Direct Benefit Transfer (DBT) mechanism.
According to the government, over ₹4.47 lakh crore has been transferred directly into farmers’ bank accounts through 23 instalments so far. The 23rd instalment alone benefited more than 9.49 crore farmers, with disbursements exceeding ₹18,984 crore, while over ₹1.71 lakh crore was released during the COVID-19 pandemic to support the farming community.
The government also highlighted that women farmers have received more than ₹1.06 lakh crore under the scheme, with nearly one in every four beneficiaries being a woman.
Citing an evaluation by NITI Aayog’s Development Monitoring and Evaluation Office (DMEO), the government said over 92 per cent of beneficiaries used the assistance for agricultural investments, while nearly 85 per cent reported higher farm incomes and reduced reliance on informal credit. It said the continued implementation of PM-KISAN would strengthen agricultural investment, improve productivity, reduce risks and enhance the financial resilience of rural households.
Khelo India Expansion with ₹36,441 Crore Outlay
The Cabinet also approved the expansion of the Khelo India Scheme and enhanced financial support to National Sports Federations (ANSFs) with a combined allocation of ₹36,441 crore for the period 2026-27 to 2030-31.
Describing it as the country’s biggest investment in sports development since Independence, the government said the allocation is nearly eight times the previous Khelo India budget.
The revamped programme seeks to establish a seamless athlete development pathway from schools and village playgrounds to international sporting arenas. It introduces Khelo India Feeder Schools, Khelo India Utkrishta Vidyalayas, and a new Emerging Khelo India Athletes (E-KIAs) category to expand the talent pool.
The scheme also strengthens National Centres of Excellence, Khelo India Centres, Sports Authority of India (SAI) Training Centres and accredited academies, while creating a structured progression route to the Target Olympic Podium Scheme (TOPS).
Other key initiatives include expanding domestic competitions, promoting women’s and para sports, supporting indigenous games, strengthening the Fit India Movement, establishing a National Coach Accreditation Board, and creating a unified digital sports platform. The government said the scheme would play a key role in preparing athletes for major international events, including the 2030 Commonwealth Games and India’s bid to host the Olympic and Paralympic Games.
₹5,070 Crore Floating Solar Programme Approved
To boost renewable energy generation, the Cabinet approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY) with an outlay of ₹5,070 crore. The scheme aims to develop 5,000 MW of floating solar photovoltaic projects integrated with Energy Storage Systems (ESS) between 2026-27 and 2030-31, with financial assistance continuing until 2032-33.
Each project will be required to include a minimum energy storage capacity of two hours, equivalent to 10,000 MWh.
Under the scheme, the Centre will provide ₹1 crore per MW as Central Financial Assistance (CFA) after successful commissioning. An additional grant of up to ₹50 lakh per project will be available for feasibility studies, including bathymetric and hydrographic surveys, environmental assessments and other preparatory work.
The scheme follows an assessment by the National Institute of Solar Energy (NISE), which estimated India’s floating solar potential at around 102.18 GWp across reservoirs and other inland water bodies. According to the government, the initiative will increase the country’s floating solar capacity from about 700 MW to 5,700 MW, reduce nearly 10 million tonnes of carbon dioxide emissions annually, and create around 16,000 to 17,000 full-time equivalent jobs. It is also expected to encourage domestic manufacturing of floating platforms, photovoltaic modules and energy storage systems under the Aatmanirbhar Bharat initiative.
₹84,084 Crore ‘Samudra Manthan’ to Boost Offshore Exploration
The Cabinet also cleared Samudra Manthan, the National Offshore Exploration Scheme, with a financial outlay of ₹84,084 crore up to FY 2030-31. The Central Sector Scheme, to be implemented by the Ministry of Petroleum and Natural Gas, is aimed at accelerating offshore oil and gas exploration while strengthening India’s long-term energy security.
The programme includes large-scale acquisition, processing and interpretation of seismic data, accelerated deepwater and ultra-deepwater exploratory drilling, scientific drilling in frontier basins, development of common offshore production and evacuation infrastructure, and the establishment of an integrated Oil and Gas Manufacturing and Services Zone.
It also provides for digital programme management, technology adoption, capacity building and international collaboration to create a comprehensive offshore exploration ecosystem.
The government said the scheme is expected to unlock more than 600 million metric tonnes of oil equivalent (MMTOE) in hydrocarbon reserves, increase domestic oil and gas production, generate employment, strengthen indigenous manufacturing and attract substantial investments across the exploration and production value chain.
Building on recent reforms such as opening nearly the entire offshore acreage for exploration, modernising the legislative framework and strengthening the National Data Repository, the government said Samudra Manthan would usher in a new phase of offshore energy development.
According to the government, the Cabinet decisions together represent a comprehensive strategy to strengthen farmer welfare, build a globally competitive sports ecosystem, accelerate India’s clean energy transition, and enhance long-term energy security, while supporting the country’s goal of becoming a developed nation by 2047.
