Cabinet new year initiative, three major decision for farmers welfare

Union Minister for Rural Development, Agriculture, and Farmers Welfare, Shri Shivraj Singh Chouhan, announced in a press conference that the Union Cabinet has dedicated the New Year to farmers, taking three significant decisions for their benefit. He expressed gratitude to Prime Minister Shri Narendra Modi for these initiatives aimed at ensuring prosperity for the nation's farmers.

Extension of Crop Insurance Schemes till 2025-26:

• The Cabinet has approved the continuation of the Pradhan Mantri Fasal Bima Yojana and the Restructured Weather Based Crop Insurance Scheme until 2025-26.
• A total budget allocation of ₹69,515.71 crore has been made for these schemes.
• The primary objective is to provide risk coverage to farmers against natural calamities.
• A Fund for Innovation and Technology (FIAT) has been established with a budget of ₹824.77 crore to incorporate technological improvements.

Key initiatives under these schemes include:

• YES-TECH (Yield Estimation System using Technology): Using remote sensing technology for accurate crop yield estimation.
• WINDS (Weather Information and Network Data System): Enhancing weather data collection through automated weather stations.
• The implementation of WINDS is set to begin in 2024-25.
  Shri Chouhan emphasized that earlier delays in states' share of funding created challenges, but the central government has now ensured immediate release of its contribution.

Special Package for DAP Subsidy Extended till 2025:

The Cabinet has extended the one-time special package for Diammonium Phosphate (DAP) subsidy under the Nutrient Based Subsidy (NBS) policy until December 31, 2025. This extension ensures affordable DAP prices for farmers. An estimated budget of ₹3,850 crore is allocated for the period from January 1, 2025, to December 31, 2025. Subsidy payments will be made based on Point of Sale (PoS) data during the specified period.

MoU Signed for Non-Basmati White Rice Trade with Indonesia:

The Cabinet approved a Memorandum of Understanding (MoU) between India and Indonesia for the trade of Non-Basmati White Rice (NBWR). The MoU allows for the annual trade of 1 million metric tonnes of NBWR based on production and international market conditions. The agreement will remain valid for four years, with an automatic extension for another four years. Implementation will be managed by the National Cooperative Exports Limited (NCEL), a cooperative society established under the Multi-State Cooperative Societies Act, 2002. NCEL will procure NBWR through transparent tenders and cooperative societies, ensuring no market distortion.

A Promising Start to the New Year for Farmers: Shri Chouhan expressed hope that the New Year brings happiness and prosperity to the people of India. He reiterated the government's commitment to fulfilling Prime Minister Shri Narendra Modi's vision of a developed India. The Ministry of Agriculture and Farmers Welfare has set ambitious goals for the coming month and is determined to achieve them for the betterment of farmers across the country.