On Wednesday, the Union Cabinet of India approved a significant set of projects worth ₹1.74 lakh crore (approximately $21 billion USD), aimed at enhancing the country's industrial capacity and growth. A major highlight is the approval of a refinery project by Hindustan Petroleum Corporation Limited (HPCL) in Pachpadra, Balotra district, Rajasthan, costing ₹79,459 crore (around $9.5 billion USD). This refinery is expected to increase India's refining capacity by 9 million metric tonnes per annum (MMTPA), with commercial operations set to begin in July 2026. Additionally, the Cabinet greenlit two hydroelectric projects—the Kamala Hydro Electric Project (1,720 MW) and the Kalai-II Hydro Electric Project (1,200 MW)—with a total investment of about ₹40,000 crore (roughly $4.8 billion USD). Urban infrastructure saw a boost with the approval of Phase 2 of the Jaipur Metro project, which involves an investment of ₹13,038 crore (about $1.6 billion USD). Furthermore, the Cabinet approved a subsidy outlay of ₹41,533.81 crore (approximately $5 billion USD) for phosphatic and potassic fertilisers for the Kharif 2026 season, reflecting the impact of elevated global fertiliser prices due to geopolitical tensions.