Union Cabinet approves Sovereign Maritime Fund with proposed 13,000cr corpus
India
Big news from the Union Cabinet: it has approved the creation of a Sovereign Maritime Fund; a report said its proposed corpus could be around ₹13,000 crore to provide insurance cover for Indian ships (and those coming to or from India), even when things get uncertain globally.
The goal? To keep India's maritime trade moving smoothly without having to rely so much on foreign insurers.
Cabinet extends PMGSY until 2028
The Cabinet also extended the Pradhan Mantri Gram Sadak Yojana (PMGSY) until 2028, adding ₹3,000 crore more to improve rural roads and connectivity.
Both moves show the government is doubling down on making trade safer and life in villages a bit easier.