Government's New Year Gift: Boost in Crop Insurance and Fertilizer Subsidy

Prime Minister Narendra Modi announced an increase in allocation for the crop insurance scheme and a subsidy raise for the Di-Ammonium Phosphate (DAP) fertilizer, as approved by the Union Cabinet. This decision aims to provide farmers with more security for their crops and ensure affordable fertilizer pricing.

The Union Cabinet led by Prime Minister Narendra Modi has prioritized farmers in its first decision of the New Year. The government has announced an enhanced allocation for the crop insurance scheme, ensuring more protection for farmers' crops.

Furthermore, the decision incorporates an increase in the subsidy on Di-Ammonium Phosphate (DAP) fertilizer, which aims to relieve financial burdens on farmers by maintaining affordable prices. This extension is crucial for providing continued support to the agricultural sector.

The Cabinet's approval of the continuation of the 'Pradhan Mantri Fasal Bima Yojana' and Restructured Weather Based Crop Insurance Scheme until 2025-26 means robust risk coverage for crops against natural calamities. The proposed budget for the fertilizer subsidy also underscores the government's commitment to agricultural sustainability.

(With inputs from agencies.)