Centre increases outlay for crop insurance schemes to Rs 69,515 cr

The Union Cabinet on Wednesday approved continuation of the Pradhan Mantri Fasal Bima Yojana and Restructured Weather Based Crop Insurance Scheme till 2025-26 with an enhanced overall outlay of the total scheme to Rs 69,515.71 crore from 2021-22 to 2025-26.

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The decision will help in risk coverage of crops from non-preventable natural calamities for farmers across the country till 2025-26.

The biggest decision taken today was the enhancement of the ‘Pradhan Mantri Fasal Bima Yojana’, which has made a significant difference in the lives of farmers. Its allocation has been increased to Rs 69,515 crore. Given the positive experience so far, the utilisation of the scheme, the response received, and the real changes seen in farmers' lives due to this scheme, the allocation has been increased,” Union Minister for Information and Broadcasting Ashwini Vaishnaw told mediapersons.

Minister skirts Punjab farmers' stir issue

When asked why Punjab farmers are agitating despite the Centre announcing welfare measures, Union Minister Ashwini Vaishnaw said Haryana farmers had given a positive feedback on welfare measures of the government. Referring to the recently held Haryana Assembly polls, the minister said, "You saw during the Haryana elections, what great feedback the farmers of the state had given on agitation versus welfare measures."

He further said the Cabinet also cleared a Rs 800 crore fund for innovation and technology, which would ensure faster assessment of crop damage and faster claim settlement. This will also help in greater coverage and reduction in disputes through technological measurements.

The coverage of this scheme has increased by manifold in the last 10 years and to further enhance it, this fund will be of great help, Vaishnaw explained, adding that greater enrolment of farmers will also be done after enhancement of the scheme's outlay.