Continuation of Pradhan Mantri Fasal Bima Yojana (PMFBY) & RWBCIS till 2025-26
Key Points: - Objective: Provide crop insurance coverage against non-preventable natural calamities for farmers across India - Cabinet Approval: January 1, 2025 by Union Cabinet chaired by PM Modi - Budget: Overall outlay of ₹69,515.71 crore for 2021-22 to 2025-26 - FIAT Fund: Fund for Innovation and Technology (FIAT) created with corpus of ₹824.77 crore - Technology Components: YES-TECH (Yield Estimation System using remote sensing) and WINDS (Weather Information Network with automatic weather stations at block level) - Beneficiaries: All farmers across India growing notified crops in notified areas - Premium: 2% for Kharif crops, 1.5% for Rabi crops, 5% for commercial/horticulture crops (balance paid by Centre and State) - North Eastern States receive enhanced 90% central subsidy share - Voluntary participation allows fund reallocation in lower-participation regions
- Continuation of PMFBY and RWBCIS approved on 1 January 2025 with overall outlay of ₹69,515.71 crore for 2021-22 to 2025-26
- Fund for Innovation and Technology (FIAT) created with corpus of ₹824.77 crore for technology adoption
- Technology: YES-TECH (Yield Estimation using remote sensing) and WINDS (Weather Information Network with automatic weather stations at block level)
- Premium: 2% for Kharif crops, 1.5% for Rabi crops, 5% for commercial/horticulture crops with balance paid by Centre and State
- North Eastern States receive enhanced 90% central subsidy share; voluntary participation allows fund reallocation
- Beneficiaries: All farmers growing notified crops in notified areas across India
When did the Cabinet approve continuation of PMFBY and RWBCIS?
The Union Cabinet, chaired by PM Modi, approved continuation of PMFBY and RWBCIS on 1 January 2025, extending crop insurance coverage across India for farmers against non-preventable natural calamities.
What is the total budget outlay for PMFBY continuation?
The overall outlay is ₹69,515.71 crore for the period 2021-22 to 2025-26, covering premium subsidy, administrative costs, and the Fund for Innovation and Technology.
What premium rates do farmers pay under PMFBY?
Farmers pay 2% for Kharif crops, 1.5% for Rabi crops, and 5% for commercial or horticulture crops. The balance premium is shared between the Centre and the State.
What is the FIAT fund under PMFBY?
The Fund for Innovation and Technology (FIAT) has a corpus of ₹824.77 crore. It supports technology interventions like YES-TECH for yield estimation and WINDS weather network.
Do North Eastern States receive special support?
Yes, North Eastern States receive an enhanced 90% central subsidy share on premium costs, making the scheme more affordable and boosting farmer participation in the region.
What technologies support PMFBY claim assessment?
YES-TECH uses remote sensing for yield estimation, while WINDS sets up automatic weather stations at the block level to provide granular weather data for insurance decisions.
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