India
Cabinet Extends Stand‑Up India, CGFMU, NBS, Noida Metro Aqua Line and Approves Yuge Yugeen Bharat Museum
On 11 November, the Union Cabinet chaired by Prime Minister Narendra Modi approved several measures. It extended the Stand‑Up India Scheme for five years until 31 March 2031, allowing loans of ₹10 lakh to ₹1 crore for greenfield enterprises in manufacturing, services, trading and agriculture‑allied activities. The Cabinet also extended the Credit Guarantee Fund for Micro Units (CGFMU) for the same period, approving a ₹4,111 crore guarantee corpus with 85 % coverage and a ₹5,000 crore fund to support PMMY loans of ₹12.6 lakh crore over five years. The guarantee fee for eligible loans was reduced from 1 % to 0.75 %. Nutrient Based Subsidy (NBS) rates for phosphatic and potassic fertilisers for the Rabi 2026‑27 season were approved, with a tentative budget of ₹62,370.02 crore, higher than the ₹37,952.29 crore allocated for Rabi 2025‑26. The Cabinet cleared the extension of the Noida Metro Aqua Line from Sector 51 to Greater Noida Sector 4, an 8.449‑km corridor costing ₹2,390 crore and adding five elevated stations. The extension will bring the combined metro network in Noida and Greater Noida to 71.878 km and provide interchanges with the Delhi Metro Blue Line. Finally, the Cabinet Committee on Economic Affairs approved the development of the Yuge Yugeen Bharat Museum at the historic North and South Block complex in New Delhi, estimated at ₹3,230 crore. The museum will occupy about 1,78,509 m², be built in phases from FY 2026‑27 to 2030‑31, and aim to accommodate up to 10 million visitors annually, showcasing India’s civilisational history and cultural heritage.