The Union Cupboard authorized the continuation of two applications on January 1 – PM Fasal Bima Yojana and Restructured Climate Primarily based Crop Insurance coverage Scheme with an general outlay of Rs 69,515.71 crore from 2021-22 to 2025-26. The Cupboard mentioned this could assist in danger protection of crops from non-preventable pure calamities for farmers throughout the nation until 2025-26.
The Union Cupboard has authorized the creation of the Fund for Innovation and Expertise (FIAT) with a corpus of Rs. 824.77 Crore to facilitate large-scale expertise integration within the implementation of the scheme. It will improve transparency and streamline declare calculation and settlement processes.
The fund will likely be used to help technological initiatives throughout the program, similar to YESTECH and WINDS, in addition to Analysis and Improvement research. YES-TECH, a system using Distant Sensing Expertise for yield estimation, assigns a minimal 30% weightage to technology-based yield estimates.
Presently, 9 main states are implementing YES-TECH (together with AP, Assam, Haryana, Uttar Pradesh, MP, Maharashtra, Odisha, Tamil Nadu, and Karnataka), with different states being onboarded swiftly. The broader implementation of YES-TECH goals to part out Crop Slicing Experiments and associated points progressively.
Claims calculation and settlement for 2023-24 have been accomplished below YESTECH, with Madhya Pradesh adopting 100% technology-based yield estimation.
The Climate Data and Community Knowledge Methods (WINDS) challenge plans to ascertain Computerized Climate Stations (AWS) on the block stage and Computerized Rain Gauges (ARGs) on the panchayat stage. The aim of WINDS is to considerably improve the present community density as a way to collect hyper-local climate information. As a part of this initiative, solely information rental prices will likely be incurred by the Central and State Governments.
9 states, together with Kerala, Uttar Pradesh, Himachal Pradesh, Puducherry, Assam, Odisha, Karnataka, Uttarakhand, and Rajasthan, are at the moment within the means of implementing WINDS, whereas different states have additionally proven curiosity in becoming a member of the initiative.
Pradhan Mantri Fasal Bima Yojana (PMFBY) is a government-sponsored crop insurance coverage scheme that brings a number of stakeholders collectively on a single platform.
PMFBY goals to help sustainable manufacturing within the agriculture sector by offering monetary help to farmers dealing with crop loss or harm resulting from unexpected occasions. The scheme additionally goals to stabilize farmers’ revenue, encourage the adoption of revolutionary agricultural practices, and make sure the circulation of credit score to the agriculture sector for meals safety and crop diversification.
The Restructured Climate Primarily based Crop Insurance coverage Scheme (RWBCIS) was launched by the Authorities of India in 2016 to safeguard farmers towards monetary losses brought on by unfavorable climate circumstances. These circumstances embody elements similar to rainfall, temperature, wind, and humidity.
The scheme presents protection for a variety of crops, together with meals crops, oilseeds, and business or horticultural crops. Its major goal is to supply complete insurance coverage safety for varied perils like drought, flood, cyclone, and hailstorm, thereby mitigating the influence of crop harm on farmers.
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