Government Extends Fertiliser Subsidies and Crop Insurance Schemes to Support Farmers

The Union Cabinet approved a subsidy extension for fertiliser DAP and crop insurance schemes PMFBY and RWBCIS. Aimed at farmer welfare, these measures ensure affordable fertiliser prices and enhanced crop insurance. The technology infusion fund aims to improve crop loss assessment and insurance efficiency.

The Indian government's Union Cabinet has approved significant measures intended to support farmers, including extending subsidies on Di-Ammonium Phosphate (DAP) fertiliser and crop insurance schemes. This approach aims to ease financial pressures on farmers by maintaining fertiliser affordability and extending essential insurance cover.

Chaired by Prime Minister Narendra Modi, the Cabinet has extended the Pradhan Mantri Fasal Bima Yojana (PMFBY) and the Restructured Weather-Based Crop Insurance Scheme (RWBCIS) until 2025-26, aligning these with the 15th Finance Commission period. This move is aimed at providing greater security to farmers across India.

Moreover, a separate fund for technology infusion—valued at Rs 824.77 crore—was established to aid in better implementation of these schemes. This fund is expected to leverage digital technology for faster claim settlements and broader insurance coverage, ultimately leading to improved farmer satisfaction and problem resolution.

(With inputs from agencies.)