The Union Cabinet has approved the continuation of Pradhan Mantri Fasal Bima Yojana and Restructured Weather Based Crop Insurance Scheme till 2025-26 with a total budget of ₹69,515.71 crore: Shri Shivraj Singh Chouhan.
- Key initiatives
- Yield Estimation System using Technology (YES-TECH) and Weather Information and Network Data System (WINDS).
- This yield estimation system based on technology, YES-TECH, uses remote sensing technology such that at least 30 percent cubic meters in total for yield estimates is technology based.
- The Weather Information and Network Data System (WINDS) is a program launched by the Ministry of Agriculture and Farmers’ Welfare (MoA&FW) in July 2023 to improve weather data infrastructure and provide weather data for decision-making.
- Extension of one-time special package on diammonium phosphate (DAP) till December 31, 2025 to ensure affordability for farmers.
- Yield Estimation System using Technology (YES-TECH) and Weather Information and Network Data System (WINDS).
Restructured Weather Based Crop Insurance Scheme
- Objective
- Reducing the hardships of insured farmers against the likelihood of financial loss due to unexpected crop loss owing to adverse weather calamities such as rainfall, temperatures, wind, humidity, etc.
- Features
- RWBCIS uses weather parameters as “proxies” for crop yields for compensating farmers for imagined crop losses. Payout structures are determined to the level of losses deemed to have been incurred using the weather triggers.
