Important proposals related to farmers have been approved in the first cabinet meeting of the new year. The government has announced to increase the allocation of the crop insurance scheme, now this allocation has been increased to Rs 69,515 crore.
Also, the Modi cabinet has decided to create a fund for early payment of claims. Union Minister Ashwini Vaishnav, while giving information about the decisions taken in the cabinet, said that the government has approved additional subsidy for DAP fertilizer for farmers. A lump sum package of Rs 3,850 crore has been given for DAP fertilizer. He said that farmers will continue to get DAP at the rate of Rs 1350 per 50 kg. The government will bear the additional cost of this.
The Cabinet has approved a special package on DAP for the period from 01.01.2025 to 31.12.2025 to ensure continuous availability of DAP to the farmers at affordable prices. Under this, a 50 kg bag of DAP will be made available to the farmers at Rs. 1350.
How long will the Pradhan Mantri Fasal Bima Yojana continue?
Apart from this, the Cabinet has approved the continuation of Pradhan Mantri Fasal Bima Yojana and the Restructured Weather Based Fasal Bima Yojana till 2025-26. The total expenditure on this scheme from 2021-22 to 2025-26 will be Rs. 69,515.71 crore.
The central government has also approved the creation of a fund for innovation and technology. The Rs 824.77 crore profile fund will be used to finance technological initiatives under the scheme.
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