Cabinet continues PMFBY and RWBCIS till 2025-26; creates ₹824.77 crore technology fund
The overall outlay is ₹69,515.71 crore for 2021-22 to 2025-26.
Summary
The Union Cabinet chaired by Prime Minister Narendra Modi on 1 January 2025 approved continuation of the Pradhan Mantri Fasal Bima Yojana (PMFBY) and the Restructured Weather Based Crop Insurance Scheme (RWBCIS) till 2025-26, with an overall outlay of ₹69,515.71 crore from 2021-22 to 2025-26. The Cabinet also created a Fund for Innovation and Technology (FIAT) with a corpus of ₹824.77 crore to fund technology initiatives under PMFBY such as YES-TECH and WINDS, and research studies. YES-TECH uses remote sensing with at least 30% weightage to technology-based yield estimates, while WINDS envisages automatic weather stations at block level and rain gauges at panchayat level, with 2024-25 approved as its first year of implementation.
Key facts
- Decision
- 1 January 2025, Union Cabinet
- Schemes
- PMFBY and RWBCIS continued till 2025-26
- Outlay
- ₹69,515.71 crore (2021-22 to 2025-26)
- FIAT
- Fund for Innovation and Technology, corpus ₹824.77 crore
- YES-TECH
- Remote-sensing yield estimation, minimum 30% weightage; Madhya Pradesh has adopted 100% technology-based yield estimation
- WINDS
- Automatic Weather Stations at block level, Automatic Rain Gauges at panchayat level; 2024-25 first year; 90:10 central share
- North-East
- Centre shares 90% of premium subsidy
Practice MCQs 3 questions
What corpus did the Union Cabinet approve on 1 January 2025 for the Fund for Innovation and Technology (FIAT) under the crop insurance schemes?
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Correct answer: D — ₹824.77 crore
PIB (Cabinet): the Cabinet approved creation of the Fund for Innovation and Technology (FIAT) with a corpus of ₹824.77 crore.
Under YES-TECH in PMFBY, what minimum weightage is given to technology-based yield estimates?
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Correct answer: A — 30%
PIB (Cabinet): YES-TECH uses remote sensing technology for yield estimation with minimum 30% weightage to technology-based yield estimates.
Consider the following statements about the crop insurance decisions of 1 January 2025: 1. WINDS envisages Automatic Weather Stations at block level and Automatic Rain Gauges at panchayat level. 2. 2024-25 was approved as the first year of WINDS implementation, with central fund sharing of 90:10. 3. Madhya Pradesh has adopted 100% technology-based yield estimation. Which of the statements given above are correct?
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Correct answer: B — 1, 2 and 3
PIB (Cabinet): all three are stated — AWS at block and ARGs at panchayat level; 2024-25 approved as WINDS' first year with 90:10 central sharing; MP has adopted 100% technology-based yield estimation.