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Crop insurance schemes for farmers extended
Cabinet okays extension of subsidy on DAP fertilizer for farmers
New Delhi: The Union Cabinet chaired by the Prime Minister Narendra Modi on Wednesday approved continua-tion of the Pradhan Mantri Fasal Bima Yojana and Restructured Weather Based Crop Insurance Scheme till 2025-26 with an overall outlay of Rs 69,515.71 crore from 2021-22 to 2025-26.
The decision will help with risk coverage of crops from non-preventable natural calamities for farmers across the country till 2025-26, according to an official statement issued after the Cabinet meeting.
The Cabinet has also approved the creation of a Fund for Innovation and Technology (FIAT) with a cor-pus of Rs 824.77 crore for large-scale technology infusion in the implementation of the scheme, lead-ing to increasing transparency and claim calculation and settlement, the statement said.
The fund will be utilised towards funding technological initiatives under the scheme, namely, YES-TECH, WINDS, etc., as well as Research and Development studies.
Yield Estimation System using Technology (YES-TECH) uses Remote Sensing Technology for yield esti-mation with minimum 30 per cent weightage to Technology-based yield estimates.
As many as nine major states, including AP, Assam, Haryana, Uttar Pradesh, MP, Maharashtra, Odisha, Tamil Nadu and Karnataka are implementing the scheme.
Other states are also being on-boarded expeditiously.
With wider implementation of YES-TECH, Crop Cutting Experiments and related issues will be gradually phased out. Under YES-TECH, claim calculation and settlement has been done for 2023-24.
Madhya Pradesh has adopted 100 per cent technology-based yield estimation.
It also approved the proposal of the Department of Fertilizers for the extension of a one-time Special Package on Di-Ammonium Phosphate (DAP) beyond the NBS subsidy at Rs 3,500 per metric tonne (MT) for the period from January 1, 2025, till further orders to ensure sustainable availability of DAP at affordable prices to the farmers, according to an official statement issued on Wednesday.
The decision will ensure greater availability of DAP to farmers at subsidized, affordable and reasonable prices, the statement said.
The Special package on DAP at Rs 3,500 per MT will be provided for the period from January 1, 2025, till further orders over and above the approved NBS subsidy to ensure smooth availability of DAP fertiliz-er to the farmers at an affordable price, the statement added.
