India's Cabinet Approves Major Oil and Gas Exploration Scheme Amid Global Energy Concerns
India's Union Cabinet, led by Prime Minister Narendra Modi, has approved a significant scheme named 'Samudra Manthan' for oil and gas exploration, with a budget of Rs 84,084 crore. The initiative aims to enhance India's domestic oil and gas reserves and production, targeting an addition of over 600 million metric tons of oil equivalent to the country's reserves. The scheme is part of India's strategy to secure its energy supply amid global uncertainties, particularly concerning potential blockades in key maritime routes. It includes components such as seismic data acquisition and offshore exploration acceleration, and is expected to generate substantial economic benefits, including job creation and investment in the exploration and manufacturing sectors. 
