Two crop insurance schemes to run till FY26
Financial Express Mumbai|January 02, 2025
Total allocations for PMFBY & RWBCIS for FY22-26 raised to ₹69,515 crore
SANDIP DAS

The Union Cabinet on Wednesday extended two crop insurance schemes—the Pradhan Mantri Fasal Bima Yojana (PMFBY) and the Restructured Weather Based Crop Insurance Scheme (RWBCIS)—by one more year till 2025-26 to align their implementation with the 15th Finance Commission period.

The total outlay for PMFBY and RWBCIS has been increased to ₹69,515 crore for 2021-22 to 2025-26, from ₹66,550 crore for FY21-25.

The cabinet committee on economic affairs also created a separate fund for innovation and technology (FIAT) of ₹824.77 crore for technology infusion in the implementation of these flagship schemes.

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