Cabinet extends PM-KISAN till FY31, approves ₹5,070 crore floating solar scheme

The Union Cabinet on Friday approved a series of measures aimed at strengthening farmer welfare, expanding sports infrastructure and accelerating India’s clean energy transition.The decisions include extending the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme until FY31 with an outlay of ₹3.15 lakh crore, approving ₹36,441 crore for the revamped Khelo India Scheme, and clearing the ₹5,070-crore Pradhan Mantri Surya Sarovar Yojana (PM-SSY) to develop 5 GW of floating solar capacity backed by battery storage.PM-KISAN extended till FY31The Cabinet approved the continuation of the PM-KISAN scheme for another five years, from FY27 to FY31, with a financial outlay of ₹3.15 lakh crore.Eligible landholding farmer families will continue to receive ₹6,000 annually in three equal instalments through the Direct Benefit Transfer (DBT) mechanism.The government said the extension underscores its commitment to supporting farmers by providing timely income assistance for agricultural investments and improving rural livelihoods.Launched in February 2019, the scheme has transferred more than ₹4.47 lakh crore directly into farmers’ bank accounts through 23 instalments. More than 9.49 crore farmers received over ₹18,984 crore under the latest instalment, while over ₹1.71 lakh crore was disbursed during the COVID-19 pandemic. Women farmers have received more than ₹1.06 lakh crore under the scheme so far.Citing an evaluation by NITI Aayog’s Development Monitoring and Evaluation Office (DMEO), the government said over 92% of beneficiaries used the assistance for agricultural activities and investments, while around 85% reported higher farm incomes and reduced reliance on informal sources of credit.₹5,070 crore floating solar pushThe Cabinet also approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY), a ₹5,070-crore scheme aimed at accelerating the deployment of floating solar photovoltaic (FSPV) projects with co-located battery energy storage systems.The programme targets the development of 5,000 MW of floating solar capacity and 10,000 MWh of battery storage between FY27 and FY31, with financial support continuing until FY33.Under the scheme, the Centre will provide financial assistance of ₹1 crore per MW for eligible projects after commissioning. Developers can also receive up to ₹50 lakh per project for feasibility studies, including bathymetric, hydrographic and environmental assessments.The government said the initiative follows an assessment by the National Institute of Solar Energy (NISE), which estimated India’s floating solar potential at around 102 GW across reservoirs and inland water bodies.It expects the scheme to increase the country’s installed floating solar capacity from around 700 MW to 5.7 GW, cut nearly 10 million tonnes of carbon dioxide emissions annually, generate 16,000-17,000 full-time equivalent jobs, and support domestic manufacturing across the solar and energy storage value chain.Khelo India gets ₹36,441 croreThe Cabinet also approved an expanded Khelo India Scheme and enhanced assistance to National Sports Federations (NSFs) with a combined outlay of ₹36,441 crore for the period from 2026-27 to 2030-31.According to the government, the allocation is nearly eight times the outlay under the previous Khelo India programme. The revamped scheme aims to create a structured pathway for young athletes from grassroots competitions to the Olympic stage, while aligning with the Khelo Bharat Niti 2025 and the National Education Policy 2020.The government said the scheme also supports India’s long-term sporting ambitions, including preparations for the 2030 Commonwealth Games and the country’s bid to host the Olympic and Paralympic Games.Also Read: Unlocking 102 GW: What India’s floating solar scheme must deliver

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