Cabinet clears ₹50,000 cr push for farm revival and green energy boost across India
New Delhi: The Union Cabinet on Wednesday approved three major initiatives with a combined annual outlay exceeding ₹50,000 crore aimed at transforming agriculture and scaling up renewable energy investments in India, reported The Economic Times.
A key highlight is the launch of the Prime Minister Dhan-Dhaanya Krishi Yojana (PMDDKY), introduced in the Union Budget 2025–26.
With an annual budget of ₹24,000 crore spread over six years, the scheme is designed to develop 100 agriculture-centric districts by integrating 36 existing schemes from 11 central ministries.
These districts have been selected based on factors such as low farm productivity, moderate crop density, and inadequate access to credit.
Union Minister Ashwini Vaishnaw confirmed that at least one district from each state will be included in the initiative.
The programme aims to benefit 1.7 crore farmers by focusing on boosting crop output, expanding irrigation, enhancing storage infrastructure, improving access to short- and long-term agricultural credit, and promoting sustainable farming practices.
Officials explained that the Aspirational Districts model inspires the programme.
To further India’s clean energy ambitions, the Cabinet also approved a ₹20,000 crore equity infusion into NTPC Green Energy Ltd (NGEL)—a subsidiary of NTPC. This move is expected to accelerate investments in solar, wind, and green hydrogen projects.
NTPC has already invested ₹7,500 crore in NGEL, whose current renewable portfolio includes 6 GW of operational capacity and 26 GW under development, with a goal of reaching 60 GW by 2032.
Vaishnaw added that NTPC and NLC have been authorised to raise the required funds.
In a third major decision, the government cleared a ₹7,000 crore investment in NLC India Renewables Ltd (NIRL), a fully owned subsidiary of Neyveli Lignite Corporation.
Under this package, renewable assets worth ₹6,263 crore will be transferred from NLC to NIRL, while an additional ₹700 crore will support ongoing clean energy projects.
NIRL currently manages seven renewable projects with a combined capacity of 1,400 MW.
“NIRL will now operate as a dedicated renewable energy subsidiary of NLC,” said Vaishnaw.
The company aims to scale its renewable capacity to 10 GW by 2030.
Highlighting India’s progress on clean energy, Vaishnaw said, "India has already crossed the 50% mark in installed green energy capacity, achieving its 2030 goals ahead of schedule."
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