Current Affairs · Government Policies and Incentives

In November 2025, the Government of India proposed expanding its incentive program for rare earth magnet manufacturing to over ₹7,000 crore. Consider the following statements regarding this development: 1. The allocation marks a nearly three-fold increase from the previously planned $290 million outlay. 2. Currently, India processes about 90% of global rare earth output, fulfilling its total annual domestic demand. 3. The expanded incentive program aims to support around five domestic firms through a mix of production-linked and capital subsidies. Which of the statements given above are correct?