Government Schemes and Initiatives

Choose the Correct Answer

Correct Answer : Option c

Explanation
Recently, the Union Cabinet approved a Rs.1,500 crore Incentive Scheme to develop recycling capacity in the country for the separation and production of critical minerals from secondary sources.

Statement 1 is correct: The Critical Minerals Recycling Incentive Scheme is a ₹1,500 crore initiative approved by the Union Cabinet and implemented by the Ministry of Mines. As a key component of the National Critical Mineral Mission (NCMM), the scheme aims to develop domestic recycling capacity and strengthen supply chain resilience for critical minerals such as lithium, cobalt, nickel, rare earth elements, and platinum group metals. It promotes recycling from secondary sources, including e-waste, lithium-ion battery (LIB) scrap, catalytic converters, and other forms of industrial scrap, thereby supporting India’s transition towards a sustainable and self-reliant critical minerals ecosystem.

Statement 2 is correct: The scheme is designed to support both large and small recyclers, including startups. As per the official guidelines, one-third of the total ₹1,500 crore outlay is earmarked specifically for Group B entities, which comprise small recyclers, startups, and entities with annual global manufacturing revenue below ₹200 crore. This provision ensures inclusive participation while promoting innovation and entrepreneurship within the recycling ecosystem, thereby fostering a balanced and competitive critical minerals industry in India.