As of September 2026, more than 60.36 crore loans amounting to Rs 43.34 lakh crore have been sanctioned by lending institutions since the launch of the PM Mudra Scheme.

The scheme provides credit guarantee coverage to the lending institutions through National Credit Guarantee Trustee Company Limited (NCGTC) against default risk.

Vaishnaw said the continuation of the Credit Guarantee Fund for Micro Units has been extended for five years.

The Cabinet approved a corpus of Rs 5,000 crore facilitating Pradhan Mantri Mudra Yojana (PMMY) loans amounting to Rs 12.6 lakh crore, an official release said.

The Cabinet also approved a five-year extension of the Stand-Up India Scheme until March 31, 2031, setting a target of bringing at least 2.5 lakh additional entrepreneurs from women, Scheduled Castes (SCs) and Scheduled Tribes (STs) into the formal credit and enterprise ecosystem.

The decision is aimed at strengthening entrepreneurship among traditionally underserved sections by improving their access to institutional finance.

The Cabinet also approved the creation of a Rs 4,111 crore Credit Guarantee Corpus to strengthen the scheme's credit guarantee mechanism and encourage banks and other lending institutions to extend financial assistance to eligible entrepreneurs.

Announcing the decision after the Cabinet meeting, union Minister for Information and Broadcasting Ashwini Vaishnaw said the scheme would continue to facilitate institutional credit for aspiring entrepreneurs and promote the establishment of new enterprises.

Launched in April 2016, the Stand-Up India Scheme has so far facilitated loans to more than 2.75 lakh women and SC/ST entrepreneurs, helping them establish greenfield enterprises across various sectors. The fresh extension is expected to build on this achievement by bringing another 2.5 lakh beneficiaries under its ambit over the next five years.

Under the scheme, eligible women and SC/ST entrepreneurs can access bank loans ranging from above Rs 10 lakh to Rs 1 crore for setting up greenfield enterprises, defined as businesses being established for the first time by the borrower. The financial assistance can be structured as a composite loan covering both working capital and term-loan requirements or as a term loan, depending on the nature and requirements of the proposed venture. The loan can cover up to 85 per cent of the project cost.

The scheme extends to manufacturing, services, trading and agriculture-allied activities, offering prospective entrepreneurs opportunities to establish businesses across a wide range of economic sectors. A credit guarantee covering 85 per cent of the loan amount is available to support lending institutions, while the standard guarantee fee has been fixed at 0.50 per cent.

Meanwhile, the Government also announced a subsidy of Rs 62,370 crore on phosphatic and potassic (P&K) fertilisers for the 2026-27 rabi season, a 50 per cent increase over the kharif season that just ended, to ensure farmers get crop nutrients at affordable rates amid a sharp rise in the global market.

Chaired by Prime Minister Narendra Modi, the Union Cabinet cleared the Department of Fertilizers' proposal to fix Nutrient Based Subsidy (NBS) rates for the period from October 1, 2026 to March 31, 2027.

Under the NBS scheme, the government pays a fixed subsidy per kg of nutrient -" nitrogen (N), phosphorus (P), potash (K) and sulphur (S) -" on notified P&K fertilisers, including DAP, MOP, SSP and NPK/NPKS grades.

For this rabi season, the subsidy has been set at Rs 94.21 per kg for nitrogen, Rs 66.11 per kg for phosphorus and Rs 10.42 per kg for Sulphur, while the rate for potash has been left unchanged at Rs 2.38 per kg.

Briefing reporters after the Cabinet meeting, Union Minister for Information and Broadcasting Ashwini Vaishnaw said the tentative budgetary requirement for the rabi season is around Rs 62,370.02 crore, about Rs 24,417.73 crore more than that for rabi 2025-26.

Vaishnaw attributed the rise in fertiliser prices to the West Asia crisis and the Russia-Ukraine war. "The Modi government has provided a shield to farmers from geopolitical turmoil," he said. The retail price of DAP (di-ammonium phosphate) will remain unchanged at Rs 1,350 per 50-kg bag.

The subsidy on P&K fertilisers for 2026-27 has now reached Rs 1,03,903 crore, nearly double the Rs 54,000 crore budgeted for the NBS scheme.

The subsidy outlay for the rabi season exceeds what is left in the year's fertiliser budget.

Meanwhile, the Union Cabinet also approved the development of the Yuge Yugeen Bharat Museum through adaptive reuse of the North and South Block complex in Delhi, at an estimated total project cost of Rs 3,230 crore.

It is envisaged as a landmark museum showcasing the continuity, diversity and richness of India's rich civilisational legacy through an integrated narrative of its tangible and intangible cultural heritage, according to officials.

The museum will be developed through the adaptive reuse of the historic North and South Block complex, "preserving their architectural character and heritage significance while transforming them into a public cultural institution", the government said.

Spread over a proposed built-up area of approximately 1,78,509 sq metres, the museum will integrate contemporary museum practices, immersive technologies and visitor-centric interpretation.

Benchmarked against major international museums, the Yuge Yugeen Bharat Museum is billed to be the museum with the largest display area in the world.

"The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, today has approved the development of the Yuge Yugeen Bharat Museum (YYBM) at the North and South Block Complex, New Delhi, at an estimated total project cost of Rs 3,230 crore, as appraised by the Public Investment Board (PIB)," the Cabinet Committee on Economic Affairs (CCEA) said.

The ambitious museum project was announced by the prime minister on May 18, 2023.

The Cabinet also approved the extension of the Aqua Line Metro Rail Corridor from Noida Sector 51 to Greater Noida Sector 4 at an estimated cost of Rs 2,390 crore, with a length of 8.449 kilometres and five elevated stations.

The project, approved by the Cabinet represents a significant advancement in the city's infrastructure development, an official statement said.

Upon operationalisation of this corridor, Noida and Greater Noida will have 71.878 kilometres of active metro rail network.

In the statement, the Government said this project acts as a major expansion of the metro rail network in the city.

The corridor will introduce approximately 8.449 kilometres of new metro lines, significantly improving public transportation in Noida and Greater Noida, which currently lack efficient connectivity.

It will also provide direct connectivity with high-demand corridors, including an interchange at Noida Sector 61 on the Blue Line, the statement said. (PTI)