Indian Government Pledges Support for Farmers with Extended Insurance and Subsidy Schemes

The Indian government, led by Prime Minister Narendra Modi, reaffirms its dedication to supporting farmers through the continuation of key agricultural insurance schemes and the extension of subsidies on crucial fertilizers, ensuring affordable resources and promoting the welfare of the agricultural community until 2025-26.

In a significant move, Prime Minister Narendra Modi reiterated his administration's commitment to the welfare of farmers, following the Union Cabinet's recent decisions. The Cabinet approved the continuation of the Pradhan Mantri Fasal Bima Yojana and the Restructured Weather Based Crop Insurance Scheme till the fiscal year 2025-26.

This strategic extension comes with an overall expenditure of Rs 69,515.71 crore, emphasizing the government's dedication to safeguarding the interests of the farming community. Additionally, a one-time special package on Di-Ammonium Phosphate (DAP) will extend beyond the existing subsidy of Rs 3,500 per tonne, ensuring its affordability and availability for farmers.

Prime Minister Modi expressed pride in the hard work of farmers, signaling that the first Cabinet of 2025 aims to enhance rural prosperity. The approximate budget for the DAP subsidy is projected at Rs 3,850 crore, affirming Modi's vision of sustainable agricultural growth and economic support for the nation's farmers.

(With inputs from agencies.)