🗞️ Cabinet Approves ₹84,084 Crore Offshore Exploration Mission
The Union Cabinet has approved the Samudra Manthan National Offshore Exploration Scheme with an outlay of ₹84,084 crore (US$8.81 billion) to accelerate offshore oil and gas exploration.
The mission aims to reduce India’s dependence on energy imports by expanding domestic exploration, encouraging private sector participation, and strengthening long-term energy security.
💬 Expert Take — “Energy security remains one of India’s biggest strategic priorities. Expanding domestic exploration can help reduce import dependence while supporting economic resilience over the long run.”
🗞️ PM-KISAN Extended with ₹2.8 Lakh Crore Outlay
The Cabinet has approved the continuation of the PM-KISAN scheme from 2026-27 to 2030-31 with a financial outlay of approximately US$33 billion (₹2.8 lakh crore).
The extension ensures continued direct income support to eligible farmers while strengthening rural consumption and agricultural stability.
💬 Expert Take — “PM-KISAN remains one of India’s largest direct benefit transfer programmes. Continued support for rural incomes can have positive spillover effects on consumption and the broader economy.”
🗞️ Formal Retail Credit Access Doubles in a Decade
According to IBEF, access to formal retail credit has doubled over the past decade, driven by digital lending, financial inclusion, Aadhaar, UPI, and improved banking infrastructure.
The expansion reflects India’s rapid progress in bringing more households into the formal financial system.
🗞️ India-Bhutan Approve 12 Development Projects
India and Bhutan have reviewed development cooperation under Bhutan’s 13th Five-Year Plan and approved 12 new projects worth US$34.41 million.
The initiatives span infrastructure, education, and community development, reinforcing the long-standing partnership between the two countries.
🗞️ RBI Expected to Hold Rates Despite Global Tightening
According to Reuters, the Reserve Bank of India is expected to keep interest rates unchanged, even as several global central banks move towards tighter monetary policy.
The expectation reflects India’s relatively balanced inflation outlook and focus on supporting domestic growth.
🗞️ ITC Shares Jump Despite Lower Profit
ITC shares rose more than 4% despite reporting a decline in Q1 profit, as investors welcomed stronger operational performance and management commentary.
The market reaction highlighted confidence in the company’s long-term business outlook.
🗞️ Zepto’s Unlisted Valuation Drops
According to Moneycontrol, Zepto’s unlisted shares fell 23% in five days, implying a valuation below US$3.5 billion.
The decline reflects changing sentiment in private markets ahead of the company’s expected IPO.
🗞️ SEBI Bars Zee Promoters for One Year
SEBI has barred Subhash Chandra and Punit Goenka from accessing the securities market for one year.
Following the order, Zee Entertainment shares declined sharply during trading.
📊 Market Update
📈 Sensex: 78,639.03 ▲ 544.39 (+0.70%)
📈 Nifty 50: 24,774.30 ▲ 390.70 (+1.60%)
🪙 Gold (per gram)
24K: ₹14,422
22K: ₹13,220
18K: ₹10,816
🥈 Silver: ₹2,35,000/kg