New Delhi: The Union Cabinet chaired by the Prime Minister Narendra Modi on Wednesday approved continuation 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 corpus of Rs 824.77 crore for large-scale technology infusion in the implementation of the scheme, leading 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 estimation 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.
Weather Information and Network Data Systems (WINDS) envisages setting up Automatic Weather Stations (AWS) at block level and Automatic Rain Gauges (ARGs) at panchayat level.
Under WINDS, a five-time increase in current network density is envisaged to develop hyper-local weather data.
Under the initiative, only data rental costs are payable by Central and state governments.
Nine major states are in the process of implementing WINDS (namely Kerala, Uttar Pradesh, Himachal Pradesh Puducherry, Assam, Odisha, Karnataka, Uttarakhand & Rajasthan are in progress), while other states have also expressed willingness to implement the scheme,
WINDS could not be implemented by states during 2023-24 (1st year as per EFC) due to various background preparatory and planning work required before tendering.
Accordingly, the Union Cabinet has approved 2024-25 as the first year of implementation of WINDS as compared to 2023-24 earlier to give benefit to the state governments with higher central fund sharing in 90:10 ratio.
All efforts are made and will continue to be made to saturate all farmers of the northeastern states on priority.
To this extent, the Centre shares 90 per cent of the premium subsidy with northeastern states.
However, due to the scheme being voluntary and a low gross cropped area in the northeastern states, flexibility has been given to avoid the surrender of funds and for reallocation in other development projects and schemes with fund requirements, the statement added.
IANS
Oppn, religious leaders call Waqf Bill ‘biggest attack’ on Muslims; stage set for prolonged protests
New Delhi: The All India Muslim Personal Law Board (AIMPLB) has ramped up its protest against the controversial Waqf (Amendment) Bill, 2024, with several Opposition leaders labeling it a "black...
Punjab Assembly passes resolution rejecting Centre’s draft on agricultural marketing
Chandigarh: Amidst the absence of BJP’s two legislators in the 117-member house, the Punjab Assembly on Tuesday unanimously passed a resolution against the Centre’s draft National Policy Framework on Agricultural...
Farmers in Jharkhand forced to destroy bumper vegetable crop amid plummeting prices
Ranchi: Farmers in Jharkhand are grappling with severe financial distress despite a bumper harvest as vegetable prices have plunged in markets across the state over the past week, leaving them...
RBI raises limit of collateral-free agriculture loans to Rs 2 lakh
Mumbai: The Reserve Bank of India (RBI) has decided to raise the limit for collateral-free agriculture loans from Rs 1.6 lakh to Rs 2 lakh to enhance coverage of small...
Farmers squat on railway tracks, national highways in Punjab over ‘tardy’ paddy procurement
Chandigarh: Farmers on Sunday squatted on railway tracks and national highways at several places in Punjab as part of a protest called by the Samyukta Kisan Morcha over the "tardy"...
Kharif crop sown area down by 2.5%: Report
Chennai: The overall sown area of Kharif crops in the week ended August 18 has declined by 2.5 per cent as compared to last year, according to a Bank of Baroda...
Centre approves provision of pulses to states at discounted rates
New Delhi: The Centre on Wednesday approved the disposal of chana (pulses) to states at discounted rates, for usage in various welfare schemes. This provision would be done through the stock...
Drought looms over paddy-growing UP, Bihar, Bengal
New Delhi: Over the past 12 weeks, record-breaking rainfall in India has caused unprecedented flooding in several parts, while eastern states have been reporting deficits by a big margin. The result:...
1.71 lakh farmers grow chemical-free crops in Himachal
Shimla: A total of 1.71 lakh farmers in Himachal Pradesh are growing chemical-free crops, a statement said on Sunday. An online portal for certification of 50,000 farmers doing natural farming...
Reduction in rice & pulses sown area a problem to be monitored: Bank of Baroda
Chennai: The reduction in rice and pulses sown area during the Kharif sowing season can be problematic, said the Bank of Baroda in a research report. "Sown area of Kharif crops...
Farmers protest on anniversary of Lakhimpur Kheri incident
Chandigarh: Farmers under the aegis of Kisan Mazdur Sangarash Committee (KMSC) held protest and rail roko prorgramme at 17 different places in Punjab on Monday to mark the anniversary of...
