National Critical Mineral Mission gets cabinet nod

The mission with an outlay of ₹34,300 cr will boost supply chain, help achieve self-reliance

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The Union cabinet on Wednesday approved a National Critical Mineral Mission with an outlay of 34,300 crore to boost India's supply chain in the key sector and achieve self-reliance.

The cabinet also approved an increase in the price of ethanol procured by state-run oil marketing companies (OMCs) for blending with petrol.

Of the critical mineral mission outlay, an amount of 16,300 crore will be borne by the government and the remaining 18,000 crore raised by public sector undertakings and other entities.

The mission, proposed by finance minister Nirmala Sitharaman in the Union budget presented in July last year, aims to secure both domestic and foreign supplies of critical minerals by strengthening the value chains with better technological, regulatory, and financial ecosystems.

India will foster innovation, skill development, and global competitiveness in exploration, mining, beneficiation, processing, and recycling to ensure it can meet both current and future demands, the government said.