Cabinet likely to give nod to Rs 7,000 cr rare earths scheme: Report
The Union Cabinet is likely to clear an incentive scheme for rare earth permanent magnets and approve an outlay of around Rs 7,000 crore, ET Now reported Wednesday citing sources.
The plan is expected to be taken up at the Cabinet meeting scheduled today.
The rare earth scheme comes amid threats of export curbs from China, which produces 60–70 % of global raw rare earths and controls 90% of global rare earth processing.
