Chandigarh, 01 January 2024: On the first day of the year, the Union Cabinet made a major announcement for farmers, approving a special one-time package of up to Rs 3,850 crore to increase the subsidy on DAP. This package will ensure that farmers continue to receive DAP at affordable prices, with a 50 kg bag priced at Rs. 1350 for the period from 01.01.2025 to 31.12.2025.
Additionally, the Cabinet has decided to extend the Pradhan Mantri Fasal Bima Yojana and the restructured Weather Based Fasal Bima Yojana through to 2025-26, with a total funding of Rs 69,515.71 crore allocated for the scheme during this period.
The Union Cabinet also approved the creation of an ₹824.77 crore fund to support technological advancements and innovation. This fund will be directed towards research and development, along with programs like YES-TECH and WINDS, aiming to improve transparency and simplify the claims process.
