Union Cabinet Grants Approval for Samudra Manthan Scheme with Rs 84,084 Crore Outlay
The program commands a financial commitment of Rs 84,084 crore and will remain active through Financial Year 2030–31.
Its principal objective is to accelerate deepwater and ultra-deepwater hydrocarbon resource exploration across India's offshore marine basins.
This initiative aligns with national energy security objectives by decreasing reliance on foreign crude imports through domestic discovery.
Key Facts / Static GK
Program Duration: Up to FY 2030–31
Q Practice Quiz — 2 August 2026
1. What is the total financial outlay approved by the Union Cabinet for the Pradhan Mantri Surya Sarovar Yojana (PM-SSY)?
Explanation: The Pradhan Mantri Surya Sarovar Yojana (PM-SSY) was approved with a total financial outlay of Rs 5,070 crore over five years.
2. Which ministry is responsible for executing the newly approved offshore exploration scheme 'Samudra Manthan'?
Explanation: The Samudra Manthan scheme is being implemented under the supervision of the Ministry of Petroleum and Natural Gas.
3. Which national instant payment platform of Maldives was linked with India's Unified Payments Interface (UPI) for cross-border transactions?
Explanation: Maldives' instant payment network, Favara, was linked with India's UPI to facilitate real-time funds transfer.
4. Consider the following statements regarding the International Financial Services Centres Authority (IFSCA): 1. IFSCA was established under the IFSCA Act, 2019. 2. Its primary headquarters is situated in Mumbai, Maharashtra. 3. The Central Government extended K. Rajaraman's tenure as IFSCA Chairman until October 2028. Which of the statements given above are correct?
Explanation: Statements 1 and 3 are correct. Statement 2 is incorrect because IFSCA headquarters is located at GIFT City, Gandhinagar, Gujarat, not Mumbai.
5. Where is the newly inaugurated Alluri Sitarama Raju International Airport located?
Explanation: The airport was constructed at Bhogapuram in the Vizianagaram district of Andhra Pradesh.
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