Daily Current Affairs : 4-January-2025
The Indian government has recently approved several significant measures to provide financial and technical support to farmers. These initiatives aim to ensure that farmers have access to affordable inputs, crop insurance, and advanced technologies that can improve their productivity. These steps are crucial as agriculture remains a vital sector for India’s economy, providing employment to millions of people.
Key Measures to Support Farmers
- Crop Insurance Scheme
- The Pradhan Mantri Fasal Bima Yojana (PMFBY) and the Restructured Weather Based Crop Insurance Scheme (RWBCIS) will continue until 2025-26. These schemes protect farmers from unexpected losses due to adverse weather conditions like drought, excessive rainfall, or floods.
- PMFBY is a comprehensive insurance plan covering all stages of crop growth—from pre-sowing to post-harvest. It is available for food crops like cereals, pulses, oilseeds, and even commercial horticultural crops.
- The schemes will help safeguard farmers’ incomes, especially in the face of unpredictable weather patterns.
- Extension of Special Subsidy for DAP Fertilizers
- The Diammonium Phosphate (DAP) fertilizer subsidy has been extended until further notice, ensuring that farmers continue to have access to affordable fertilizers.
- This measure is especially crucial for the Kharif and Rabi crops of 2024-25, as global market volatility has caused fluctuations in fertilizer prices. By continuing the subsidy, the government is providing a cushion against price hikes and supporting farmers in maintaining crop yields.
- Fund for Innovation and Technology (FIAT)
- The government has approved the creation of the Fund for Innovation and Technology (FIAT) with a corpus of ₹824.77 crore. This fund will support technological initiatives designed to improve farming practices and increase transparency in insurance claims.
- Two key projects under this fund include:
- YES-TECH: A system that uses remote sensing technology to estimate crop yields, providing more accurate data for insurance purposes.
- WINDS (Weather Information and Network Data Systems): This initiative aims to enhance weather data collection by installing automatic weather stations at the block level and rain gauges at the panchayat level. This will improve localized weather predictions and help farmers make better-informed decisions.
Benefits of These Initiatives
- Affordability of Inputs: The extended subsidies on DAP fertilizers ensure that farmers do not face financial stress in securing necessary inputs for their crops.
- Risk Mitigation: The continuation of crop insurance schemes will protect farmers from crop failures, offering financial security in times of crisis.
- Technological Support: By introducing new technologies like YES-TECH and WINDS, the government is helping farmers manage risks and improve yield estimation, leading to better planning and productivity.
Important Points:
- Extension of Crop Insurance Schemes:
- Continuation of Pradhan Mantri Fasal Bima Yojana (PMFBY) and Restructured Weather Based Crop Insurance Scheme (RWBCIS) until 2025-26.
- Aims to protect farmers from financial losses due to adverse weather events like drought, floods, and temperature fluctuations.
- Support for DAP Fertilizers:
- Extension of the special subsidy on Diammonium Phosphate (DAP) fertilizers until further orders.
- Ensures affordable fertilizers for Kharif and Rabi crops in 2024-25 despite global market volatility.
- Creation of Fund for Innovation and Technology (FIAT):
- A fund of ₹824.77 crore for technological initiatives under schemes like YES-TECH and WINDS.
- Focus on improving transparency in crop insurance claims and using technology to assist farmers.
- Technological Initiatives:
- YES-TECH: Uses remote sensing for accurate yield estimation to enhance insurance coverage.
- WINDS: Aims to install automatic weather stations at block levels and rain gauges at panchayat levels, improving localized weather data.
- PMFBY Coverage:
- Provides comprehensive crop insurance for food crops, oilseeds, and annual commercial crops.
- All farmers, including sharecroppers and tenant farmers, are eligible for coverage.
- Premium Structure:
- Farmers pay a premium of 2% for Kharif crops, 1.5% for Rabi crops, and 5% for commercial horticulture crops.
Why In News
The Union Cabinet has approved critical measures to support Indian farmers, including the extension of a special subsidy for Diammonium Phosphate (DAP) fertilizers and the continuation of crop insurance schemes until 2025-26, aiming to provide financial stability and safeguard against weather-related risks. These initiatives are part of the government’s broader efforts to strengthen the agricultural sector and ensure that farmers have access to essential resources and protection in the face of evolving challenges.
MCQs about Key Measures to Strengthen and Support Indian Farmers
-
Which of the following measures has been extended by the Union Cabinet to support Indian farmers?
A. Increase in Minimum Support Price (MSP) for crops
B. Special subsidy for Diammonium Phosphate (DAP) fertilizers
C. Introduction of new farming techniques
D. Tax exemption for farmers’ income
-
What is the duration of the extension for the Pradhan Mantri Fasal Bima Yojana (PMFBY) and the Restructured Weather Based Crop Insurance Scheme (RWBCIS)?
A. Until 2023-24
B. Until 2025-26
C. Until 2030-31
D. Until 2027-28
-
What is the purpose of the Fund for Innovation and Technology (FIAT)?
A. To provide loans to farmers for purchasing land
B. To fund technological initiatives to improve agricultural practices
C. To create new insurance schemes for farmers
D. To distribute fertilizers at subsidized rates
-
Which technology is used by YES-TECH for accurate yield estimation?
A. Artificial Intelligence
B. Remote Sensing
C. Blockchain
D. Machine Learning
Boost up your confidence by appearing our Weekly Current Affairs Multiple Choice Questions
