The Union Cabinet has approved a massive package of four flagship schemes worth ₹4.41 lakh crore, marking one of the government’s largest multi-sector investment decisions aimed at strengthening agriculture, renewable energy, sports development and energy security. The decisions, announced during the Cabinet briefing on July 31, 2026, include the launch of the Pradhan Mantri Surya Sarovar Yojana (PM-SSY), continuation of the PM-KISAN scheme for another five years, expanded funding for the Khelo India and National Sports Federation Schemes, and the introduction of Samudra Manthan, a national offshore exploration programme.
The combined investment reflects the government’s strategy of simultaneously addressing rural welfare, clean energy, sporting excellence and long-term energy independence. While each scheme targets a different sector, together they represent a comprehensive policy approach intended to support economic growth, infrastructure creation and employment generation over the coming years.
PM Surya Sarovar Yojana to Boost Floating Solar Capacity
Among the most significant announcements is the approval of the Pradhan Mantri Surya Sarovar Yojana (PM-SSY) with a financial outlay of ₹5,070 crore over five years. The scheme aims to establish 5,000 MW of Floating Solar Photovoltaic (FSPV) capacity, representing a more than seven-fold increase from India’s existing installed floating solar capacity of around 700 MW.
Unlike conventional solar parks, floating solar plants will be installed on reservoirs, canals and industrial water bodies, eliminating the need for additional land acquisition. Every project under the scheme will include a minimum two-hour Energy Storage System (ESS) with a combined storage capacity of 10,000 MWh, enabling states to manage electricity demand during peak hours.
The projects will be selected through tariff-based competitive bidding, while government assistance of up to ₹1 crore per MW will be provided.
Environmental and Economic Benefits Expected
According to the Cabinet briefing, floating solar projects are expected to deliver several environmental benefits beyond electricity generation. By covering water surfaces, the installations can reduce evaporation, conserve water resources, lower dust accumulation on solar panels and improve energy generation efficiency.
The government estimates that the programme could reduce nearly 10 million tonnes of carbon dioxide emissions annually, generate approximately 16,000 to 17,000 full-time employment opportunities, and encourage domestic manufacturing of floating structures, anchoring systems and energy storage technologies.
PM-KISAN Extended for Five More Years
The Cabinet has also approved the continuation of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme from FY 2026-27 to FY 2030-31, with a total allocation of ₹3,15,614 crore.
Under the programme, eligible landholding farmer families will continue receiving ₹6,000 annually, transferred directly into their bank accounts through Direct Benefit Transfer (DBT) in three equal instalments of ₹2,000.
The payment schedule remains aligned with India’s agricultural calendar, ensuring farmers receive financial assistance during crucial sowing and harvesting periods for both Kharif and Rabi crops.
The continuation of PM-KISAN is expected to provide predictable income support, reduce farmers’ dependence on informal credit sources and improve liquidity for purchasing seeds, fertilisers and other agricultural inputs.
Support for Small Farmers Continues
The Cabinet noted that over ₹4.47 lakh crore has already been transferred under PM-KISAN through 23 instalments. The programme has particularly benefited small and marginal farmers, who constitute nearly 85 per cent of its beneficiaries.
The government believes extending the scheme will strengthen household financial stability, reduce borrowing costs and contribute to inclusive rural economic growth by ensuring direct income support continues without interruption.
Major Funding Boost for Khelo India
The sports sector also received unprecedented financial support as the Cabinet approved ₹36,441 crore for the Khelo India Scheme and Assistance to National Sports Federation Scheme over the next five years.
Out of this allocation, ₹29,054 crore has been earmarked for Khelo India, while ₹7,387 crore will strengthen National Sports Federations. The government stated that funding for Khelo India represents an eight-fold increase compared to the previous allocation.
The investment aims to build a structured sports ecosystem by integrating sports with education, expanding sports science support, improving infrastructure and creating systematic pathways from grassroots talent to elite international competition.
Preparing India for Global Sporting Excellence
Officials said the enhanced programme aligns with Khelo Bharat Niti 2025 and the National Education Policy 2020, while supporting India’s long-term ambitions of hosting major international sporting events, including the 2030 Commonwealth Games and a future Olympic bid.
The expanded scheme will increase athlete participation, improve coaching standards, strengthen talent identification, establish high-performance centres and promote university leagues, women’s sports, para-sports and indigenous games.
The National Sports Federation Scheme will further support international exposure, coaching camps, foreign experts and hosting global sporting events in India.
Samudra Manthan Targets India’s Energy Security
The Cabinet’s fourth major decision is the approval of Samudra Manthan, the National Offshore Exploration Scheme, with a total investment of ₹84,084 crore.
The initiative aims to significantly increase India’s domestic oil and gas reserves through advanced offshore exploration and improved production infrastructure.
The scheme includes two primary components—large-scale seismic data acquisition using advanced technologies and artificial intelligence, and accelerated offshore drilling supported by common infrastructure and manufacturing incentives.
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Government support will help undertake 60 deepwater and ultra-deepwater exploration wells, with participation open to both public and private exploration companies.
Reducing Import Dependence
The government expects Samudra Manthan to unlock more than 600 million tonnes of oil equivalent (MTOE) in hydrocarbon reserves while increasing annual production by 10–15 MTOE, with peak production potential reaching 20 MTOE.
The programme also seeks to reduce India’s dependence on imported energy by improving domestic production, generating foreign exchange savings, encouraging investment across exploration and manufacturing sectors, and creating employment opportunities in oil and gas-related industries.
A Multi-Sector Development Strategy
The four Cabinet approvals collectively represent one of the government’s most comprehensive development packages in recent years. Rather than focusing on a single sector, the decisions combine social welfare, renewable energy, sports development and strategic energy exploration into one coordinated investment strategy.
From ensuring continued income support for millions of farmers to expanding India’s renewable energy capacity, nurturing future Olympic athletes and strengthening long-term energy security, the initiatives aim to create both immediate economic benefits and sustained national growth.
According to the Cabinet briefing, the approvals form part of a broader infrastructure and development vision under which projects worth more than ₹28 lakh crore have been approved during the current NDA government’s tenure.
