Union Minister Shivraj Singh Chouhan said that the damages incurred by farmers would be compensated under the ‘Crop Insurance Scheme’.
Speaking to ANI during his visit to Trimbak in Maharashtra’s Nashik district, Chouhan, who serves as the Union Minister for Agriculture, Farmers’ Welfare, and Rural Development, stated, “I have visited here every New Year with my family to seek blessings. This year, however, is dedicated to the farmers. I want to assure them that the losses to their crops will be covered under the ‘Crop Insurance Scheme.'”
Chouhan also highlighted the government’s recent “historic” decisions for farmers, which were taken during a cabinet meeting in Delhi led by Prime Minister Narendra Modi.
Earlier in the day, Chouhan offered prayers at the Trimbakeshwar Jyotirlinga temple in Trimbak, Maharashtra.
In related developments, the Union Cabinet approved the extension of the One-time Special Package for Di-Ammonium Phosphate (DAP). This extension, which goes beyond the National Basic Subsidy (NBS) scheme, will ensure the continued availability of DAP to farmers at affordable prices from January 1, 2025, until further notice. The estimated budget for this extension is approximately Rs 3,850 crore.
Furthermore, the Cabinet approved the continuation of two significant schemes—the Pradhan Mantri Fasal Bima Yojana and the Restructured Weather Based Crop Insurance Scheme—until 2025-26. The overall budget for these schemes will be Rs 69,515.71 crore from 2021-22 to 2025-26, providing risk coverage for farmers affected by natural calamities.
In a move to enhance transparency and improve the claims process under these schemes, the Cabinet also approved the creation of the Fund for Innovation and Technology (FIAT). With a corpus of Rs 824.77 crore, FIAT will fund technological advancements, including initiatives like YES-TECH and WINDS, as well as research and development projects.
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