PM Modi Announces ₹85,000 Crore for Samudra Manthan

Exam-focused facts from the 16 August 2026 current affairs briefing.

Key facts

Prime Minister Narendra Modi announced an allocation of ₹85,000 crore for the Samudra Manthan initiative to accelerate offshore exploration.
The Samudra Manthan National Offshore Exploration Scheme was approved on 31 July 2026.
The scheme has a Phase-I outlay of ₹84,084 crore up to FY 2030-31.
The initiative aims to convert India's previously no-go coastal waters into go-ahead areas for exploration and discovery of new reserves.
It seeks to boost hydrocarbon exploration and production in India's offshore basins.