A separate fund of Rs 824.77 crore was created for the use of technology in the implementation of major schemes.
The government on Wednesday extended the period of a one-time package of up to Rs 3,850 crore to subsidize key fertilizer DAP. The Union Cabinet approved extension of two crop insurance schemes by one year. According to PTI news, in this regard, Prime Minister Narendra Modi said that these decisions are dedicated to the farmers. The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister, extended two crop insurance schemes – PMFBY and RWBCIS – for another year till 2025-26, PTI reported. Also, a separate fund of Rs 824.77 crore was created for the use of technology in the implementation of major schemes.
Talk of making it according to the period of 15th Finance Commission
Pradhan Mantri Fasal Bima Yojana (PMFBY) and Restructured Weather Based Crop Insurance Scheme (RWBCIS) have been extended to align with the 15th Finance Commission period. The total outlay for PMFBY and RWBCI has been increased to Rs 69,515. Rs 71 crore for the year 2021-22 to 2025-26, which is more than Rs 66,550 crore for 2020-21 to 2024-25.
additional subsidy passed forward
In another major Cabinet decision, the Union Cabinet extended additional subsidy on Di-Ammonium Phosphate (DAP) beyond December 31, 2024, to help maintain the retail prices of this key fertilizer at Rs 1,350 per 50 kg bag. Can get help. Last year, the Center had announced a one-time special package of Rs 3,500 per tonne on DAP, valid from April 1, 2024, to December 31, 2024, with a financial implication of Rs 2,625 crore to keep prices under control.
crops will get more protection
The Cabinet also approved the proposal for extension of one-time special package on DAP at the rate of Rs 3,500 per tonne for the period from January 1, 2025, till further orders. On the social media platform X, the Prime Minister said that (the government’s) first decision of the new year is dedicated to the crores of farmer brothers and sisters of our country. We have approved increasing the allotment for the crop insurance scheme. This will provide more protection to farmers’ crops and will also reduce their worries about any loss. He said the Cabinet’s decision to extend the one-time special package on Di-Ammonium Phosphate (DAP) will help farmers ensure the fertilizer at affordable prices.
Farmers will continue to get DAP at the rate of Rs 1,350 per bag
Information and Broadcasting (I&B) Minister Ashwini Vaishnav said that farmers will continue to get DAP at the rate of Rs 1,350 per bag and the additional burden will be borne by the Central government. A one-time special package of up to Rs 3,850 crore has been approved for DAP fertilizer. When asked about the ongoing farmers’ agitation in Punjab and why the government is unable to convince them, Vaishnav said that if you had gone around during the Haryana elections, farmers would have focused on ‘movement’ versus real welfare versus ‘good for farmers’. A very good response was given, you must have seen it yourself. Despite geopolitical constraints and volatility of global market conditions, the government said it has ensured availability of DAP at affordable prices to farmers for Kharif and Rabi 2024-25.
Latest Business News
