Summary:

The Union Cabinet has extended the Pradhan Mantri Fasal Bima Yojana (PMFBY) and the Restructured Weather-Based Crop Insurance Scheme (RWBCIS) until 2025-26, allocating Rs. 69,515 crore to support nearly four crore farmers in managing risks from natural disasters. Additionally, Rs. 824.77 crore has been earmarked to enhance claim transparency through technological initiatives like YES-TECH for remote sensing and WINDS for hyper-local weather monitoring, thereby increasing efficiency and agricultural risk coverage.

The Cabinet also approved a one-time Rs. 3,850 crore package to subsidize DAP fertilizers, ensuring price stability amid global volatility. Farmers in the North-Eastern states benefit from 90% premium subsidies under PMFBY, with flexible fund allocation to address regional needs. These initiatives reflect the government's commitment to leveraging technology, ensuring financial security, and boosting agricultural productivity, providing essential support to farmers nationwide.

Source: IBEF

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