Cabinet Approves 84,000 Cr for Samudra Manthan, Extends PM-Kisan
The Union Cabinet has approved a major deep-sea exploration program and extended a key farmer welfare scheme, aiming to boost energy security and rural incomes.
Source: Livemint EconomyThe Union Cabinet recently approved an 84,008-crore program named 'Samudra Manthan' to accelerate deep-sea oil and gas exploration across India. This initiative aims to strengthen India's energy security by increasing domestic hydrocarbon production. In a separate decision, the Cabinet also extended the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme for another five years. The extension of PM-Kisan is intended to continue boosting rural incomes and agricultural investment, providing financial support directly to eligible farmer families. Both decisions were made on Friday, reflecting the government's focus on both economic growth and social welfare. The Samudra Manthan program is a significant step towards reducing India's reliance on imported oil and gas, while the PM-Kisan extension ensures continued support for the agricultural sector.
This news is important for competitive exams, especially for UPSC GS Paper III (Economy) and SSC General Awareness. It covers government policy on energy security and agricultural welfare. Aspirants should understand the financial outlay for 'Samudra Manthan' and the implications of extending PM-Kisan, including its impact on rural economy and energy independence. These topics frequently appear in questions related to government schemes, economic development, and energy policy.
- Union Cabinet approved 84,008 crore for deep-sea oil and gas exploration.
- The deep-sea exploration program is named 'Samudra Manthan'.
- PM-Kisan scheme has been extended for another five years.
- The Samudra Manthan program aims to strengthen India's energy security.
- PM-Kisan extension targets boosting rural incomes and agricultural investment.
- Both approvals were made by the Union Cabinet on a Friday.
This is the name given to the 84,008-crore program approved by the Union Cabinet for accelerating deep-sea oil and gas exploration in India. The initiative aims to discover and extract hydrocarbon resources from India's exclusive economic zone, thereby enhancing the nation's energy security and reducing dependence on imports.
Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) is a central sector scheme launched in 2019. It provides income support to all eligible landholding farmer families across the country. Under the scheme, 6,000 per year is transferred in three equal installments of 2,000 directly into the bank accounts of farmers. It aims to supplement the financial needs of farmers.
Energy security refers to the uninterrupted availability of energy sources at an affordable price. For a nation, it means having reliable access to sufficient energy supplies to meet its economic and national security needs. India aims to achieve energy security by increasing domestic production of oil and gas and diversifying its energy mix.
Exams often ask about the objectives and financial outlays of major government schemes and initiatives. For UPSC, focus on the policy implications and linkages to economic development. For SSC/Banking, remember the specific amounts, scheme names, and their primary beneficiaries.
Remember 'Samudra Manthan' (churning of the ocean) for deep-sea exploration, like searching for treasures. 'PM-Kisan' sounds like 'PM for Farmers', reminding you of farmer welfare.
Frequently Asked Questions
What is the main objective of the Samudra Manthan program?
The main objective of the Samudra Manthan program is to accelerate deep-sea oil and gas exploration in India. This initiative aims to discover new hydrocarbon reserves and increase domestic production, thereby strengthening India's energy security and reducing its reliance on imported oil and gas.
How much financial outlay has been approved for Samudra Manthan?
The Union Cabinet has approved a financial outlay of 84,008 crore for the Samudra Manthan program. This significant investment will fund various activities related to deep-sea oil and gas exploration, including surveys, drilling, and infrastructure development.
What is the benefit of extending the PM-Kisan scheme?
Extending the PM-Kisan scheme for another five years ensures continued financial support for eligible farmer families. This direct income support helps boost rural incomes, encourages agricultural investment, and contributes to the overall welfare of the farming community in India.