Agroinsurance

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India - Union Cabinet approves continuation of PM Fasal Bima Yojana, weather-based crop insurance scheme

01.01.2025 650 views

Union Cabinet has approved the continuation of PM Fasal Bima Yojana and Restructured Weather Based Crop Insurance Scheme till 2025-26.

Briefing media after the Cabinet meeting in New Delhi today, Information and Broadcasting Minister Ashwini Vaishnaw said that the overall outlay of the scheme has been increased to 69 thousand 515 crore rupees. He said, under the scheme 88 per cent of insured farmers are small and marginal farmers.

Mr Vaishnaw added that 57 per cent of insured farmers are from OBC, SC, and ST. The Minister said that in the last eight years, claims of one lakh 70 thousand crore rupees have been given to farmers. Mr Vaishnaw said, the first Cabinet meeting of 2025 was dedicated to farmers.

Union Cabinet has approved the extension of One-time Special Package on Di-Ammonium Phosphate (DAP) fertilizers beyond the Nutrient Based Subsidy at three thousand 500 rupees per Metric tonnes. It has approved the proposal of the Department of Fertilizers for the extension of the Special Package from today till further orders to ensure sustainable availability of DAP at affordable prices to the farmers. Briefing media after the Cabinet meeting in New Delhi today, Information and Broadcasting Minister Ashwini Vaishnaw said the farmers will continue to get DAP at one thousand 350 rupees per bag of 50 Kilogram. The tentative budgetary requirement for it will be approximately upto three thousand 850 crore rupees.

He said, the extra burden will be borne by the Union Government. The move will ensure the availability of DAP to farmers at subsidized, affordable and reasonable prices.

Source - https://orissadiary.com

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