{"id":44310,"date":"2025-01-02T05:40:33","date_gmt":"2025-01-02T00:10:33","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=44310"},"modified":"2025-05-06T10:14:54","modified_gmt":"2025-05-06T04:44:54","slug":"pmfby-and-rwbcis-extended-until-2025-26-with-69515-crore-boost","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/pmfby-and-rwbcis-extended-until-2025-26-with-69515-crore-boost\/","title":{"rendered":"PMFBY &#038; RWBCIS Extended Until 2025-26 with \u20b969,515 Crore Boost"},"content":{"rendered":"<h2><strong>What\u2019s in today\u2019s article?<\/strong><\/h2>\n<ul>\n<li>Why in News?<\/li>\n<li>Pradhan Mantri Fasal Bima Yojana (PMFBY)<\/li>\n<li>Key features of the PMFBY<\/li>\n<li>Restructured Weather-Based Crop Insurance Scheme<\/li>\n<li>Crop insurance scheme gets Rs 69,515 crore boost<\/li>\n<\/ul>\n<h2><strong>Why in News?<\/strong><\/h2>\n<p>The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the continuation of the Pradhan Mantri Fasal Bima Yojana (PMFBY) and the Restructured Weather-Based Crop Insurance Scheme until 2025-26.\u00a0<\/p>\n<p>The schemes have been allocated an enhanced outlay of \u20b969,515.71 crore for the period 2021-22 to 2025-26.<\/p>\n<h2><strong>Pradhan Mantri Fasal Bima Yojana (PMFBY)<\/strong><\/h2>\n<ul>\n<li><strong>About:<\/strong>\n<ul>\n<li>A scheme of the Ministry of Agriculture &amp; Farmers Welfare, PMFBY is an insurance service for farmers for their yields, launched in 2016.<\/li>\n<li>The new Crop Insurance Scheme is in line with the One Nation One Scheme theme.<\/li>\n<li>The PMFBY replaced the previous two schemes: the National Agricultural Insurance Scheme (NAIS) and the Modified NAIS.\u00a0<\/li>\n<li>It has incorporated the best features of all previous schemes while eliminating all previous shortcomings.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Objectives:<\/strong>\n<ul>\n<li>To provide insurance coverage and financial support to the farmers in the event of failure of any of the notified crops as a result of natural calamities, pests and diseases.<\/li>\n<li>To stabilise the income of farmers to ensure their continuance in farming.<\/li>\n<li>To encourage farmers to adopt innovative and modern agricultural practices.<\/li>\n<li>To ensure flow of credit to the agriculture sector.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><strong>Key features of the PMFBY<\/strong><\/h2>\n<ul>\n<li><strong>Premium rates<\/strong>\n<ul>\n<li>There will be a uniform premium of only 2% to be paid by farmers for all Kharif crops and 1.5% for all Rabi crops (winter sown).\u00a0<\/li>\n<li>In case of annual commercial and horticultural crops, the premium to be paid by farmers will be only 5%.\u00a0<\/li>\n<\/ul>\n<\/li>\n<li><strong>Area based approach<\/strong>\n<ul>\n<li>The Scheme will be implemented on an &#8216;Area Approach basis,&#8217; i.e., Defined Areas for each notified crop for widespread calamities,\u00a0<\/li>\n<li>The unit of insurance shall be Village\/Village Panchayat level for major crops and for other crops it may be a unit of size above the level of Village\/Village Panchayat.<\/li>\n<li>It is assumed that all insured farmers in a unit of insurance, to be defined as a &#8220;Notified Area&#8221; for a crop, face similar risk exposures.<\/li>\n<\/ul>\n<\/li>\n<li><strong>No upper limit to subsidy<\/strong>\n<ul>\n<li>There is no upper limit on Government subsidy. This means, even if the balance premium is 90%, it will be borne by the Government.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Use of technology<\/strong>\n<ul>\n<li>The use of technology will be encouraged to a great extent. For example,\u00a0\n<ul>\n<li>Smartphones will be used to capture and upload data of crop cutting to reduce the delays in claim payment to farmers.\u00a0<\/li>\n<li>Remote sensing will be used to reduce the number of crops cutting experiments.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li><strong>Beneficiaries to be covered<\/strong>\n<ul>\n<li>All farmers growing notified crops in a notified area during the season who have insurable interest in the crop are eligible.<\/li>\n<li>To address the demand of farmers, the scheme has been made voluntary for all farmers from Kharif 2020.\n<ul>\n<li>Earlier, the enrolment was compulsory for farmers who possess a Crop Loan account or Kisan Credit Card (KCC) account, etc).<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><strong>Restructured Weather-Based Crop Insurance Scheme (RWBCIS)<\/strong><\/h2>\n<ul>\n<li>RWBCIS was introduced by the Government of India in 2016 to safeguard farmers against financial losses caused by unfavourable weather conditions.\u00a0<\/li>\n<li>These conditions encompass factors such as rainfall, temperature, wind, and humidity.<\/li>\n<li>The scheme offers coverage for a range of crops, including food crops, oilseeds, and commercial or horticultural crops.\u00a0<\/li>\n<li>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.<\/li>\n<li><strong>Eligibility <\/strong>&#8211; All farmers, including sharecroppers and tenant farmers, growing notified crops in notified areas.<\/li>\n<\/ul>\n<figure class=\"image image_resized\"><img decoding=\"async\" src=\"https:\/\/vajiram-prod.s3.ap-south-1.amazonaws.com\/Difference_between_RWBCIS_and_PMFBY_e0a89b84bd.webp\" alt=\"Difference between RWBCIS and PMFBY.webp\" \/><\/figure>\n<h2><strong>Crop insurance scheme gets Rs 69,515 crore boost<\/strong><\/h2>\n<ul>\n<li><strong>Continuation of PMFBY and RWBCIS till 2025-26<\/strong>\n<ul>\n<li>The Union Cabinet approved the continuation of the PMFBY and the RWBCIS until 2025-26, with an enhanced outlay of \u20b969,515.71 crore for the period 2021-22 to 2025-26.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Risk Coverage and Technology Infusio<\/strong>n\n<ul>\n<li>The schemes aim to provide risk coverage for crops against non-preventable natural calamities.\u00a0<\/li>\n<li>To increase transparency and efficiency in claim calculation and settlement, the Cabinet approved the creation of the <strong>Fund for Innovation and Technology (FIAT)<\/strong> with a corpus of \u20b9824.77 crore.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Technological Initiatives under FIAT<\/strong>\n<ul>\n<li><strong>Yield Estimation System using Technology (YES-TECH)<\/strong>:\n<ul>\n<li>Utilizes Remote Sensing Technology for yield estimation, with at least 30% weightage to technology-based estimates.<\/li>\n<li>Currently implemented in 9 states, with efforts to onboard others.<\/li>\n<li>Madhya Pradesh has adopted 100% technology-based yield estimation, eliminating the need for Crop Cutting Experiments.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li><strong>Weather Information and Network Data Systems (WINDS)<\/strong>:\n<ul>\n<li>Plans to establish <strong>Automatic Weather Stations (AWS)<\/strong> at the block level and <strong>Automatic Rain Gauges (ARGs)<\/strong> at the Panchayat level.<\/li>\n<li>Aims to increase network density fivefold for hyper-local weather data.<\/li>\n<li>WINDS implementation starts in 2024-25, with states like Kerala, Uttar Pradesh, and Himachal Pradesh participating.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Special Provisions for Northeastern States<\/strong>\n<ul>\n<li>The Centre will share 90% of the premium subsidy for Northeastern states.<\/li>\n<li>Flexibility is provided to reallocate funds to other development projects if required due to low gross cropped area or voluntary participation.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Key Benefits<\/strong>\n<ul>\n<li>Enhanced risk coverage for farmers across India.<\/li>\n<li>Transition to technology-based systems for increased accuracy and transparency.<\/li>\n<li>Support for Northeastern farmers with higher subsidy sharing.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<hr \/>\n<h3><strong>Q.1. What are the key features of PMFBY?<\/strong><\/h3>\n<p>PMFBY offers a uniform premium rate (2% for Kharif, 1.5% for Rabi, and 5% for horticulture crops), no upper limit on subsidies, and uses technology like remote sensing for crop yield estimation. Farmers growing notified crops in specified areas are eligible.<\/p>\n<h3><strong>Q2. What is the role of FIAT in crop insurance schemes?<\/strong><\/h3>\n<p>The \u20b9824.77 crore Fund for Innovation and Technology (FIAT) facilitates transparency in claim settlement using initiatives like YES-TECH for remote yield estimation and WINDS for hyper-local weather data, benefiting Indian farmers.<\/p>\n<p><strong>Source: <\/strong><a href=\"https:\/\/indianexpress.com\/article\/india\/union-cabinet-pm-fasal-bima-yojana-crore-9754738\/\" target=\"_blank\" rel=\"nofollow noopener\">IE<\/a> | <a href=\"https:\/\/pib.gov.in\/PressReleaseIframePage.aspx?PRID=2089410\" target=\"_blank\" rel=\"nofollow noopener\">PIB<\/a> | <a href=\"https:\/\/vikaspedia.in\/agriculture\/agri-insurance\/pradhan-mantri-fasal-bima-yojana\" target=\"_blank\" rel=\"nofollow noopener\">Vikaspedia<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Union Cabinet approved the continuation of PMFBY and RWBCIS until 2025-26, allocating \u20b969,515 crore. Key initiatives include YES-TECH, WINDS, and higher subsidies for Northeast farmers.<\/p>\n","protected":false},"author":5,"featured_media":44311,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18],"tags":[],"class_list":{"0":"post-44310","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-mains-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/44310","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=44310"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/44310\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/44311"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=44310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=44310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=44310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}