Market Mastery
Webinar by Vishal Malkan
Find the weak links
in your portfolio by Vishal Malkan
The Union Cabinet on Wednesday, November 11, approved a Rs 62,370-crore fertiliser subsidy for the rabi season, alongside a Rs 5,000-crore credit guarantee fund under the MUDRA Yojana and a Rs 3,230-crore project to develop the Yuge Yugeen Bharat Museum in New Delhi.
Union Information and Broadcasting Minister Ashwini Vaishnaw announced the decisions following the Cabinet meeting, outlining measures covering agriculture, credit access and cultural infrastructure.
Rs 62,370 crore fertiliser subsidy for rabi season
The Cabinet approved Rs 62,370 crore towards fertiliser subsidies for the rabi season, which runs from October to March.
The approval comes against the backdrop of the government's nutrient-based subsidy (NBS) framework, under which phosphatic and potassic fertilisers are supplied to farmers at subsidised prices.
Under the scheme, the Centre fixes subsidy rates for different nutrients for each cropping season, taking into account prevailing domestic and international prices of fertilisers and their inputs. The subsidy is paid to manufacturers and importers to support the availability of fertilisers at affordable prices.
For the preceding rabi season of 2025-26, the government had approved a subsidy requirement of approximately Rs 37,952 crore. The Cabinet subsequently cleared about Rs 41,534 crore for the kharif 2026 season.
The government's fertiliser subsidy programme covers key agricultural inputs used in cultivating crops, including wheat, pulses and oilseeds.
Rs 5,000 crore credit guarantee fund under MUDRA
In another decision, the Cabinet approved a Rs 5,000-crore credit guarantee fund under the Pradhan Mantri MUDRA Yojana.
Launched in April 2015, the scheme facilitates institutional credit for small businesses and microenterprises through banks, non-banking financial companies and other eligible lending institutions.
The existing Credit Guarantee Fund for Micro Units, administered by the National Credit Guarantee Trustee Company, provides protection to eligible lenders against defaults on covered microenterprise loans.
The government's credit guarantee mechanism is intended to support collateral-free lending to eligible small borrowers.
Rs 3,230 crore approved for Yuge Yugeen Bharat Museum
The Cabinet Committee on Economic Affairs also approved Rs 3,230 crore for developing the Yuge Yugeen Bharat Museum by converting the historic North and South Blocks in New Delhi.
Vaishnaw said the museum would showcase India's civilisational journey and would be larger than the Louvre in Paris. The proposed museum will cover approximately 1.79 lakh square metres and is being designed to accommodate nearly 30,000 visitors daily.
The project was first announced in May 2023. In February 2026, the Cabinet endorsed the transition of government offices from North and South Blocks to new administrative buildings, clearing the way for their conversion into a museum.
According to the Ministry of Culture, development will take place in phases between FY27 and FY31. The first gallery, focusing on adornment, is expected to open in late 2027.
The ministry has identified approximately 18 lakh objects from museums and other collections for potential display.
