Economy
Cabinet Approves ₹84,084 Crore Samudra Manthan Offshore Scheme
The Times of India11h
THE BRIEF
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The Union Cabinet has officially approved the 'Samudra Manthan' National Offshore Exploration Scheme, allocating a total budget of ₹84,084 crore for the project.
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This initiative is designed to significantly boost India's domestic oil and gas exploration capabilities in offshore regions to enhance energy security.
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The scheme aims to streamline exploration activities, with the government expecting the investment to accelerate the discovery and production of hydrocarbon resources across the country's maritime zones.