These initiatives aim to provide financial support and risk coverage to farmers, thereby enhancing their livelihoods and promoting agricultural development.
Here are some of the key highlights:
- Extension of Crop Insurance Schemes: The government has extended the Pradhan Mantri Fasal Bima Yojana (PMFBY) and Restructured Weather Based Crop Insurance Scheme (RWBCIS) until 2025-26 with a total outlay of Rs 69,515.71 crore. This move aims to provide continued risk coverage to farmers against crop losses due to natural calamities.
- Fund for Innovation and Technology: A new Rs 824 crore fund, called the Fund for Innovation and Technology (FIAT), has been established to support the integration of advanced technology into the implementation of crop insurance schemes. This initiative aims to improve the efficiency and effectiveness of these schemes.
- Subsidy for DAP Fertilizers: A special Rs 3,850 crore package has been approved to keep Di-Ammonium Phosphate (DAP) fertilizers affordable at Rs 1,350 per 50 kg bag. This subsidy will be calculated based on actual point-of-sale (PoS) transactions from January 1, 2025, to December 31, 2025.