The Government of India (GoI) on January 01, 2025, issued the notification regarding the approval of Modification/addition of the features/ provisions in the ongoing Central Sector Scheme of Pradhan Mantri Fasal Bima Yojana (PMFBY) and Restructured Weather Based Crop Insurance Scheme (RWBCIS) for its implementation.
The following has been stated namely: -
• The Union Cabinet approved the continuation of the Pradhan Mantri Fasal Bima Yojana (PMFBY) and the Restructured Weather Based Crop Insurance Scheme until 2025-26 with an outlay of Rs. 69,515.71 Crore.
• A Fund for Innovation and Technology (FIAT) has been created to support technological advancements such as YES-TECH and WINDS under the schemes.
• YES-TECH uses Remote Sensing Technology for yield estimation
• WINDS will establish Automatic Weather Stations (AWS) and Automatic Rain Gauges (ARGs) at local levels to improve hyper-local weather data, with implementation set for 2024-25.
• Priority will be given to saturating crop insurance coverage in North Eastern States, with the Centre sharing 90% of premium subsidies and offering flexibility for fund reallocation due to lower cropped areas.
[Press Release: 2089249]
