Cabinet Approves Samudra Manthan Scheme with Rs 84,084 Crore Outlay
UPSC / SSC current affairs note
Why in news
The Union Cabinet has approved the 'Samudra Manthan' scheme, a major initiative to boost domestic oil and gas production. This is significant as it aims to reduce India's heavy reliance on crude oil imports, thereby strengthening energy security.
Background
India is one of the largest importers of crude oil, with a significant portion of its energy needs met through imports. The government has been focusing on enhancing domestic production to reduce import dependency and improve energy self-sufficiency.
Key facts
The Union Cabinet approved 'Samudra Manthan', the National Offshore Exploration Scheme.
The scheme has a total outlay of Rs 84,084 crore.
It aims to boost domestic oil and gas production.
The scheme is designed to reduce India's massive crude oil import bill.
It is expected to strengthen India's energy security.
Prelims pointers
- Scheme name: Samudra Manthan
- Also known as: National Offshore Exploration Scheme
- Approved by: Union Cabinet
- Outlay: Rs 84,084 crore
- Objective: Boost domestic oil and gas production, reduce import bill, strengthen energy security
Mains angles
- Discuss the significance of the Samudra Manthan scheme in enhancing India's energy security.
- Critically examine the challenges in boosting domestic oil and gas production in India.