Govt Announces New Subsidy and Insurance Initiatives for Farmers
The Union Cabinet of India has announced key measures to aid farmers, including a ₹3,500/metric tonne subsidy on Diammonium Phosphate (DAP) fertiliser, effective January 1, 2025, with ₹3,850 crore allocated. The Pradhan Mantri Fasal Bima Yojana (PMFBY) and Restructured Weather Based Crop Insurance Scheme (RWBCIS) will continue until 2025-26, with ₹69,515.71 crore allocated for PMFBY. A Fund for Innovation and Technology (FIAT) worth ₹824.77 crore will modernize agricultural insurance, while the WINDS initiative will enhance weather predictions. A Memorandum of Understanding (MoU) with Indonesia allows annual trade of 1 million metric to
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