Union Cabinet Key Decisions: The Union Cabinet, chaired by Prime Minister Narendra Modi, approved several proposals worth ₹77,101 crore on Wednesday. The decisions aim to provide relief to farmers and small businesses through fertiliser subsidies and credit support, while also allocating funds for a national museum in Delhi.
Amid rising global fertiliser prices linked to the West Asia crisis, the Cabinet approved ₹62,370 crore in subsidies for phosphatic and potassic fertilisers for the 2026–27 rabi season. This is 64 per cent higher than the previous rabi season’s allocation. The subsidy will remain effective until March 31, 2027, ensuring that a 50-kg bag of DAP continues to be available to farmers at ₹1,350. The measure is expected to benefit wheat, pulses and oilseed growers.
To improve access to finance for small businesses and micro enterprises, the Cabinet also approved a ₹5,000-crore credit guarantee fund under the Pradhan Mantri Mudra Yojana. The support framework will continue until March 2031.
In another major decision, ₹3,230 crore was sanctioned to convert Delhi’s historic North and South Block buildings into the Yuge Yugeen Bharat National Museum. Spread across approximately 1.79 lakh square metres, the museum will showcase India’s civilisational heritage. Its first gallery is expected to open in late 2027, with the project being developed in phases to accommodate around 30,000 visitors daily.