India Unveils New Schemes and Policies Across Key Sectors
The Indian government has introduced a series of new schemes and policy updates aimed at bolstering various sectors of the economy, enhancing social welfare, and promoting sustainable development. These initiatives reflect a concerted effort to drive growth, improve infrastructure, and address critical national priorities.
Critical Mineral Recycling Gets ₹1,500 Crore Boost
The Union Cabinet has approved a substantial ₹1,500 crore Incentive Scheme for critical mineral recycling, a crucial component of the National Critical Mineral Mission. This scheme is designed to ensure supply chain sustainability for critical minerals, which are vital for advanced technologies and national security. The application process for this incentive scheme commenced on October 2, 2025, indicating a swift rollout post-approval. Eligible feedstock under the scheme includes e-waste, spent lithium-ion batteries (LIBs), and other scrap like catalytic converters from end-of-life vehicles. The initiative is expected to augment recycling capacity through advanced processes like hydrometallurgy and leverage indigenous capabilities developed by premier institutes.
Upcoming Pradhan Mantri Kaushal Mudra Yojana to Fund Workforce Skilling
India is preparing to launch the Pradhan Mantri Kaushal Mudra Yojana (PMKMY), a new skill financing scheme slated for announcement in the upcoming Budget 2026-27. This five-year program will focus on funding the skilling of India's growing workforce, providing broader access to high-end training, particularly in emerging sectors. A key objective of PMKMY is to ensure that resources reach all segments of the population, including women, rural youth, and persons with disabilities, thereby making financing a central part of the skills ecosystem.
Deep-Sea Fishing Sector to Receive Modernized Vessels
In a move to strengthen the Blue Economy and modernize India's marine fisheries, Union Home Minister Amit Shah is set to inaugurate and distribute state-of-the-art Deep-Sea Fishing Vessels at Mazagon Dock in Mumbai on October 27. This initiative underscores the government's commitment to self-reliance (Aatmanirbhar Bharat) and aims to enhance deep-sea fishing capacity while promoting cooperative-led growth in coastal regions. The program seeks to unlock new opportunities in high-value fisheries, such as tuna, and boost India's seafood exports.
NPS Investment Options Expanded for Central Government Employees
The Government of India approved the extension of Life Cycle 75 (LC75) and Balanced Life Cycle (BLC) investment options to central government employees under the National Pension System (NPS) and the Unified Pension Scheme (UPS) on October 24, 2025. This policy change, announced by the Ministry of Finance, aims to provide greater flexibility for employees to plan their retirement and manage savings according to their individual risk appetites. Employees can now choose from various options, including higher equity exposure (up to 75% under LC75) with gradual tapering.
Odisha Approves ₹4,182 Crore Scheme for Aviation Sector
The Odisha government has approved the Building and Management of Aviation Assets and Network (B-MAAN) scheme, committing ₹4,182 crore over five years (2025–2030) to boost the state's aviation sector. This comprehensive scheme, designed to position Odisha as a leading aviation hub in eastern India, integrates infrastructure development, modernization, and maintenance of airports and heliports. It includes provisions for Viability Gap Funding (VGF) and other incentives to enhance regional air connectivity and establish world-class Maintenance, Repair, and Overhaul (MRO) facilities.
RBI Introduces New Rules for Old Currency Notes
The Reserve Bank of India (RBI) has issued new rules regarding the exchange and usage of old currency notes. This policy offers citizens a final opportunity to exchange demonetized notes, albeit with clear guidelines and strict documentation requirements. The RBI emphasized that this decision is part of a broader strategy to streamline currency circulation, reduce unaccounted money, and enhance the transparency of the banking system.
Defence Procurement Manual 2025 Released
The Defence Minister of India released the Defence Procurement Manual (DPM) 2025, which will govern revenue procurements for the day-to-day functioning, maintenance, and operational readiness of the Armed Forces. This new manual, distinct from the Defence Acquisition Procedure (DAP) for capital procurements, replaces the 2009 manual and incorporates lessons from defence reforms under the 'Atmanirbhar Bharat' initiative. It is set to become effective from November 1, 2025, and is expected to govern revenue procurements worth approximately ₹1 lakh crore.