Union Minister Announces Major Subsidy Boost for Farmers

by The_unmuteenglish

Chandigarh, 01 January 2024: The Union Cabinet has approved a significant subsidy increase for farmers, including a special package of up to Rs 3,850 crore to enhance the availability of DAP.

Union Minister Ashwini Vaishnav announced the decision on the first day of the new year, revealing that a 50 kg bag of DAP will be provided to farmers at Rs. 1350 for the period from 01.01.2025 to 31.12.2025.

Read More: SC Awaits Action on Farmer Leader’s Hunger Strike

In addition, the Cabinet has sanctioned the continuation of the Pradhan Mantri Fasal Bima Yojana and the restructured Weather Based Fasal Bima Yojana until 2025-26, with Rs 69,515.71 crore allocated for the scheme from 2021-22 to 2025-26.

The Cabinet also approved the creation of a ₹824.77 crore fund to support innovation and technology, aimed at enhancing research, development, and transparency in claim processing.

The fund will finance initiatives such as YES-TECH and WINDS.

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