# Cabinet approves Rs 84,008 crore Samudra Manthan scheme

2026-08-06T21:45:20+00:00 | Governance | Indian Opinion Desk

Corroboration: 1 independent outlet

The Union Cabinet has approved the Rs 84,008 crore Samudra Manthan scheme for five years to support deepwater oil and gas exploration. It will fund seismic surveys, reimburse up to 50% of eligible deepwater drilling costs, support 60 exploratory wells and build shared offshore infrastructure. Mint reports that one deepwater exploratory well can cost $125 million to $150 million. The government aims to raise annual domestic hydrocarbon output from about 62 million tonnes of oil equivalent to 80 million tonnes. The Cabinet also extended PM-Kisan until FY31 with an outlay of Rs 3,15,614 crore. The scheme will continue providing Rs 6,000 a year to eligible farmer families in three instalments, covering about 11 crore beneficiaries. India produces roughly 28 million tonnes of crude oil a year and imports about 90% of its crude needs, according to Mint’s explainer.

## Coverage

- livemint.com <https://www.livemint.com/economy/samudra-manthan-scheme-india-deep-sea-oil-gas-exploration-pm-kisan-11785500391092.html>
- livemint.com <https://www.livemint.com/industry/energy/india-deepwater-oil-and-gas-exploration-samudra-manthan-scheme-energy-sector-11785836112292.html>

Tags: offshore exploration, oil and gas, PM-Kisan, Samudra Manthan, Union Cabinet
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