The Union Cabinet has extended its flagship farmer income-support scheme for five more years and approved a new floating solar programme, alongside other major spending decisions.

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• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved continuation of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme from 2026-27 to 2030-31 with a total financial outlay of Rs 3.15 lakh crore.
• Launched in February 2019, PM-KISAN provides eligible landholding farmer families Rs 6,000 annually in three equal instalments via Direct Benefit Transfer.
• Nearly Rs 4.5 lakh crore has been disbursed under PM-KISAN so far, with women farmers receiving more than Rs 1.06 lakh crore of that total.
• A NITI Aayog evaluation found that more than 92 per cent of beneficiaries used the assistance for agricultural activities and investment.
• Between 2020-21 and 2025-26, foodgrain production grew by about 21.18 per cent, with cultivated area up 9.65 per cent and productivity up 10.53 per cent.
• The Cabinet also approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY) with a total outlay of Rs 5,070 crore to develop floating solar photovoltaic projects with energy storage.
• PM-SSY aims to develop 5,000 MW of floating solar capacity paired with energy storage systems of at least 10,000 MWh, based on potential assessed by the National Institute of Solar Energy.
• Projects under PM-SSY will be sanctioned during FY 2026-27 to FY 2030-31, with central assistance of Rs 1 crore per MW disbursed after commissioning, continuing up to FY 2032-33.
• The same Cabinet meeting cleared the Rs 84,084-crore Samudra Manthan National Offshore Exploration Scheme to boost domestic oil and gas reserves and cut import dependence.
• The Cabinet additionally approved a revamped Khelo India Scheme worth Rs 36,441 crore, split between Rs 29,054 crore for Khelo India and Rs 7,387 crore for Assistance to National Sports Federations.
• Together, the four schemes announced at the meeting represented a package worth roughly Rs 4 lakh crore spanning agriculture, sports, renewable energy and offshore exploration.