NEW DELHI: Prime Minister Narendra Modi on Wednesday said that his government's first decisions in the new year were dedicated to farmers, as the Union cabinet extended a technology-driven flagship farm-insurance scheme amid increasing shocks to agriculture due to the climate crisis and cleared a fresh tranche of fertiliser subsidy to cushion higher global prices due to geopolitical uncertainties.
The Union cabinet, chaired by Modi, approved an extension to the Pradhan Mantri Fasal Bima Yojana (PMFBY) and Restructured Weather Based Crop Insurance Scheme till 2025-26 with an overall outlay of ₹69,515.71 crore. It also signed off on a proposal to top up the subsidy allocation for di-ammonium phosphate (DAP), a widely used fertiliser, with an additional outlay of ₹3,850 crore, an official statement said.
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