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Cabinet approves Modification in Pradhan Mantri Fasal Bima Yojana and RWBCIS Scheme

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi recently approved continuation of the Pradhan Mantri Fasal Bima Yojana and Restructured Weather Based Crop Insurance Scheme till 2025-26 with an overall outlay of Rs.69,515.71 Crore from 2021-22 to 2025-26. The decision will help in risk coverage of crops from non-preventable natural calamities for farmers across the country till 2025-26.

Creation of Fund for Innovation and Technology (FIAT) :

The Union Cabinet has also approved creation of Fund for Innovation and Technology (FIAT) with a corpus of Rs.824.77 Crore for large scale technology infusion in implementation of the scheme leading to increasing transparency and claim calculation and settlement. The fund will be utilised towards funding technological initiatives under the scheme namely, YES-TECH, WINDS, etc as well as Research and Development studies.

YES-TECH and WINDS Scheme:

Yield Estimation System using Technology (YES-TECH) uses Remote Sensing Technology for yield estimation with minimum 30% weightage to Technology based yield estimates. With wider implementation of YES-TECH, Crop Cutting Experiments and related issues will be gradually phased out. Under YES-TECH Claim calculation and settlement has been done for 2023-24. Madhya Pradesh has adopted 100% technology based yield estimation. 9 Major States are currently implementing (namely AP, Assam, Haryana, Uttar Pradesh, MP, Maharashtra, Odisha, Tamil Nadu & Karnataka).

What is WINDS scheme :

9 Major States are in the process of implementing WINDS (namely Kerala, Uttar Pradesh, Himachal Pradesh Puducherry, Assam, Odisha, Karnataka, Uttarakhand & Rajasthan are in progress), while other States have also expressed willingness to implement. Weather Information and Network Data Systems (WINDS) scheme envisages setting up Automatic Weather Stations (AWS) at block level and Automatic Rain Gauges (ARGs) at panchayat level . Under WINDS, 5 times increase in current network density is envisaged to develop hyper local weather data . Under the initiative, only data rental costs are payable by Central and State Governments.

What is Restructured Weather Based Crop Insurance Scheme (RWBCIS) :

The Restructured Weather Based Crop Insurance Scheme (RWBCIS) was introduced by the Government of India in 2016 to safeguard farmers against financial losses caused by unfavorable weather conditions. These conditions encompass factors such as rainfall, temperature, wind, and humidity.

The scheme offers coverage for a range of crops, including food crops, oilseeds, and commercial or horticultural crops. Its primary objective is to provide comprehensive insurance protection for various perils like drought, flood, cyclone, and hailstorm, thereby mitigating the impact of crop damage on farmers.

About Pradhan Mantri Fasal Bima Yojana (PMFBY) :

PMFBY is a government-sponsored crop insurance scheme that brings multiple stakeholders together on a single platform. PMFBY aims to support sustainable production in the agriculture sector by providing financial assistance to farmers facing crop loss or damage due to unforeseen events. The scheme also aims to stabilize farmers’ income, encourage the adoption of innovative agricultural practices, and ensure the flow of credit to the agriculture sector for food security and crop diversification.

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