₹2,814 Crore Critical Minerals Scheme | Lithium & Nickel | Union Cabinet Approval 2026 |

The Union Cabinet, chaired by Prime Minister Narendra Modi, approved a ₹2,814-crore Capital Expenditure (CAPEX) Support Scheme to promote domestic processing of critical minerals on 4 November 2026.

Current Affairs MCQ – Question 8

Question: In November 2026, the Union Cabinet approved a ₹2,814-crore CAPEX Support Scheme to establish four domestic processing plants and reduce import dependence for which two critical minerals?

Correct Answer: Lithium and Nickel.

Important Information:

Total Financial Outlay: ₹2,814 crore.

Scheme Duration: Five years, from FY 2026–27 to FY 2030–31.

Processing Plants: Four plants – two for lithium and two for nickel.

Capital Subsidy: 30% of eligible investment.

Lithium Plants: Minimum capacity of 30,000 tonnes each.

Nickel Plants: Minimum capacity of 50,000 tonnes each.

Cobalt Recovery: Cobalt is expected to be recovered as a by-product of nickel processing.

Benefits and Significance:

Reduces India’s dependence on imported refined critical minerals.

Strengthens domestic mineral-processing capabilities.

Promotes self-reliance under the Atmanirbhar Bharat initiative.

Supports electric vehicles, battery energy storage systems, electronics, defence and speciality steel.

Strengthens India’s critical mineral supply chain.

Static GK:

Lithium is an important component of rechargeable batteries.

Nickel is widely used in battery manufacturing and stainless steel.

Cobalt is also used in several battery technologies.

CAPEX stands for Capital Expenditure.

Exam Relevance: UPSC, SSC, Banking, RBI, Insurance, Railway and other competitive examinations.

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