Cabinet nod for Rs 2,814 cr plan to support critical mineral processing

NEW DELHI: Cabinet Wednesday approved a Rs 2,814 crore scheme to boost domestic processing of lithium and nickel, reducing dependence on imports of critical minerals.PM Narendra Modi said India cannot afford to depend on other countries for processing such materials.

The scheme would encourage domestic investment and secure future supplies, he wrote on X.Union ministry of mines said processing of critical minerals was concentrated in a few global locations. The scheme aims to develop domestic processing capabilities, promote value addition and reduce import dependence by supporting processing facilities.It targets processing lithium and nickel ores or intermediary products into high-purity compounds.

Cobalt is expected to be recovered as a by-product of nickel production. To be implemented until FY31, the scheme will provide a capital subsidy of 30% of eligible investment for four plants: two lithium processing plants with minimum capacity of 30,000 tonnes each and two nickel plants with minimum capacity of 50,000 tonnes each.The support will be capped at Rs 500 crore per lithium beneficiary and Rs 900 crore per nickel beneficiary.

Govt approves VISTAR scheme for stats overhaul

Viksit Bharat Initiative for Statistical Transformation, analytics and research (VISTAR) scheme the The scheme with an outlay of Rs 4,371 crore will be spread over five years from 2026-27 to 2030-31.