Cabinet Approves ₹84,084 Crore Deep-Sea Oil And Gas Exploration Scheme

The Union Cabinet has approved a major deep-sea oil and gas exploration scheme with an outlay of ₹84,084 crore, running through FY 2030-31, as part of a push to boost India’s domestic energy production.

The scheme, fully funded by the central government, covers seismic surveys, deepwater drilling, and shared offshore production infrastructure — areas that have traditionally needed heavy upfront investment, which has kept India reliant on imports for the bulk of its crude oil needs. Reducing that import dependence has been a long-standing policy goal, particularly relevant given how sensitive fuel prices are to global crude swings.

Separately, the Cabinet also approved a revamped Khelo India scheme under the Ministry of Youth Affairs and Sports, aimed at building a clearer pathway from school-level sport all the way to international competition. Together, the two approvals reflect a broader push on both energy security and sporting infrastructure.