Cabinet approves Rs. ₹24,000 crore (US$ 2.79 billion) focus on agriculture, funding for renewable energy.

A scheme worth 24,000 crore (US$ 2.79 billion) annually is poised to revolutionize agriculture and related sectors across 100 districts beginning in FY26. The initiative aims to boost agricultural productivity, encourage crop variety and sustainable methods, and upgrade post-harvest facilities at both the panchayat and block tiers. It also seeks to broaden irrigation access and enhance farmers’ availability of both short- and long-term financing. Building on the successful framework of NITI Aayog's Aspirational Districts Programme, PMDDKY will integrate 36 current schemes into a single, cohesive structure. Districts will be chosen based on three primary criteria: low agricultural output, low crop intensity, and restricted credit distribution. Implementation is set to start in August 2025, with around 1.7 crore farmers anticipated to gain advantages over the following six years. Simultaneously, the Cabinet also sanctioned fresh investments to strengthen India’s renewable energy industry. National Thermal Power Corporation (NTPC) Ltd has received increased financial independence to invest up to Rs. 20,000 crore (US$ 2.33 billion) via its subsidiary, NTPC Green Energy Ltd. In contrast, NLC India Ltd (NLCIL) plans to invest Rs. 7,000 crore (US$ 814.6 million) through its renewable sector, NLC India Renewables Ltd. These actions seek to expedite the firms’ individual goals of 60 Gigawatt (GW) and 10 GW of renewable energy capacity by 2032 and 2030. The exemptions awarded to NLCIL provide increased operational flexibility, allowing them to circumvent the 30% net worth limit. The announcements arrive as India commemorates reaching 50% of its power generation capacity from non-fossil fuel sources, five years prior to its goal for 2030.