Key Highlights
We will get to see some variations in the key highlights of the schemes, which have already been mentioned before including expansion of budget, technology adoption, and special incentives for select geo. Taking this into account, these are the highlights.
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The schemes of PMFBY and RWBCIS have been extended for FY 2025-26.
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Allocation rose to ₹69,515.71 crore for the period of 2021-22 to 2025-26.
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A fund of ₹824.77 crores was set for tech advancements like YES-TECH and WINDS.
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Subsidies of premium 90% in northeastern states.
Technological Advancements
The government is using modern technology to make government schemes for farmers more effective and easier to use. These technologies have helped improve data understanding, speed up processes, and increase transparency. Below are the key technologies being introduced:
- YES-TECH (Yield Estimation System using Technology):
- Weather Information and Network Data Systems (WINDS):
Challenges and Regional Priorities
The schemes face some challenges, especially in certain regions like the Northeast and among insurers. Low participation and declining premium income are key concerns. Here are the main issues and steps being taken:
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Low Participation in the Northeast: Despite 90% premium subsidies, low enrolment and limited cropped areas hinder the schemes' success.
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Declining Insurer Participation:
To counter these challenges, the government introduced flexible fund allocation, allowing states to redirect unused funds to other agricultural projects.
Expanding Coverage For Non-Loanee Farmers
Farmers who are not availing loans can now also be insured through the app called AIDE which was launched in 2023 and acts as a solution gap for the farmers who don’t take loans. Some of its notable attributes are:
In the future, the government envisions increasing crop insurance usage by hiring around 12 lakh personnel on the ground and encouraging new farming methods.
Significance Of The Extension
Extending these govt schemes is important for protecting farmers and supporting agriculture. It helps reduce risks, promotes innovation, and shows the government’s strong commitment to farmers. Here are the key benefits of the extension:
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Risk Mitigation: PMFBY and RWBCIS help insure against losses of crops due to yield risks and weather damages.
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Enhanced Investment in Farmer: A bigger budget allocation exemplifies the willingness of the government to aid the farmers.
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Fostering Innovation: The utilisation of technology promotes effective implementation guaranteeing that farmer confidence is increased.
Conclusion
The expansion of PMFBY and RWBCIS underlines the Indian government’s commitment to enhancing existing crop insurance systems. The farmer schemes offer innovative technology and seek to reduce differences between regions with the objectives of protecting farmers’ income security and promoting performance sustainability in agriculture.
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