Modi 3.0 Government / Modi cabinet gave a gift to farmers, allocation of PM crop scheme increased

Modi 3.0 Government: In the cabinet meeting chaired by Prime Minister Narendra Modi, many important decisions were taken with the aim of providing relief to the farmers. These decisions include expansion of crop insurance scheme, additional subsidy on fertilizers and technical improvements. These decisions have been taken to provide stability to Indian agriculture and reduce the financial burden for farmers.

Expansion of Crop Insurance Scheme

The Cabinet approved the continuation of Pradhan Mantri Fasal Bima Yojana and Restructured Weather Based Crop Insurance Scheme till 2025-26. A total budget of Rs 69,515.71 crore has been allocated for this. The objective of this scheme is to ensure crop protection of farmers from natural disasters.

Along with this, technical measures will be expanded to bring transparency in the scheme. Innovation and Technology Fund (FIAT) of Rs 824.77 crore has been created, which will be helpful in quick assessment of crop loss and claim settlement. Under this, technologies like Yes-Tech and Winds will be used.

Additional subsidy on DAP

To provide relief to farmers, special subsidy has been provided on di-ammonium phosphate (DAP). The market price of DAP is around Rs 3,000 per 50 kg bag, but it will be made available to farmers for Rs 1,350 only. The additional cost will be borne by the government.

For this, the government has approved a one-time special package of Rs 3,850 crore. Despite the volatility in fertilizer prices in the global market, this move of the government will not affect the farmers.

Key points

DAP price unchanged: Farmers will continue to get a 50 kg DAP bag for Rs 1,350.

Increase in subsidy: Fertilizer subsidy doubled between 2014-2023, which has now reached Rs 1.9 lakh crore.

No impact of international prices: Despite the volatility of the global market and the crisis on sea routes, affordable fertilizers will be available to farmers.

Government's commitment: Despite crises like the Covid pandemic and global war, the government ensured that farmers did not face market uncertainties.

Conclusion

This cabinet meeting has proved to be a milestone in empowering farmers and ensuring their economic stability under the leadership of Prime Minister Narendra Modi. The crop insurance scheme and improvement in fertilizer subsidy will not only provide relief to the farmers but will also strengthen the agriculture sector. The impact of these schemes will be seen positively on India's rural economy in the coming years.