Government extends two crop insurance schemes till 2025-26; creates ₹824.77 crore fund for tech infusion
The Hindu
PMFBY and RWBCIS crop insurance schemes extended till 2025-26 with ₹824.77 crore fund for technology infusion.
The Centre on Wednesday (January 1, 2024) extended two crop insurance schemes — PMFBY and RWBCIS — for one more year till 2025-26 and also created a separate ₹824.77 crore fund for technology infusion in the implementation of flagship schemes.
Pradhan Mantri Fasal Bima Yojana (PMFBY) and Restructured Weather Based Crop Insurance Scheme (RWBCIS) have been extended to align it with the 15th Finance Commission period.
A decision in this regard was taken in the meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi.
"The schemes have received positive response from the farmers and therefore, the allocation for PMFBY and RWBCIS has been enhanced," Information and Broadcasting Minister Ashwini Vaishnaw told reporters.
Asked about the ongoing farmer agitation in Punjab and why the government is unable to convince them, Mr. Vaishnaw said, "If you would have moved around during Haryana elections, farmers gave great feedback on 'Andolan' versus real welfare versus 'good to farmers', you would have yourself seen".
The total outlay for PMFBY and RWBCI has been enhanced to ₹69,515.71 crore for 2021-22 to 2025-26, higher from ₹66,550 crore for 2020-21 to 2024-25.
For the targeted infusion of technology in the implementation of the crop insurance schemes, the Minister said the Cabinet also approved the creation of a separate Fund for Innovation and Technology (FIAT) with a corpus of ₹824.77 crore.
JNPA awards contract for ₹284 crore export-import facility to boost India's agricultural logistics capabilities.
SEBI to issue fresh show cause notice to ZEEL founder Subhash Chandra & son Punit Goenka for listing norms violation.
HMT Chairman Dr. S.M. Patil claimed that the company’s competitors in the export markets are placed in an advantageous position. He wanted to know whether there could be any means by which the HMT could get its raw material at international prices.
Dollar gains against most currencies in 2024, rupee weakens, global markets expect low volumes during holidays.
ONDC empowers small businesses, revolutionizes e-commerce, and challenges Big Tech firms, endorsed by PM Modi and Commerce Minister Goyal.
India's manufacturing sector faces challenges as factory activity hits a 12-month low, impacting output, new orders, and export growth.
Fog delays flights at Kempegowda International Airport, Bengaluru, with visibility as low as 50 meters, now back to normal.
Sensex and Nifty rise in early trade on January 2, 2025, led by IT and bank stocks; global markets mixed.
Follow The Hindu’s updates on forex rates: Rupee falls to 85.75 against US dollar as dollar gains strength, global markets see low volumes.
Viacom18 Media now a direct subsidiary of Reliance Industries after conversion of 24.61 crore CCPS into equity shares.
India's GST receipts growth slows to 3.3% in December, reflecting economic slowdown, with refunds and state variances impacting collections.