In a boost to the agricultural sector in the country, the government of India has approved several policy decisions including the extension of the major crop insurance scheme- Restructured Weather Based Crop Insurance Scheme and Pradhan Mantri Fasal Bima Yojana.

The government has also approved the creation of FIAT to fund research and development projects in the agricultural sector like YES-TECH, and WINDS.

The decision was taken in a meeting of the Union cabinet chaired by Prime Minister Narendra Modi on 1 January 2025.

Extension of the Crop Insurance Scheme

The central government has extended the central sector crop insurance scheme -Pradhan Mantri Fasal Bima Yojana and Restructured Weather Based Crop Insurance Scheme by one year till 2025-26.

The total allocation for both the schemes from 2021-22 to 2025-26 is now Rs.69,515.71 Crore.
Both schemes are a crop insurance scheme in which the insured farmers are compensated in case of crop failure under certain terms and conditions.
The only difference is that in the Pradhan Mantri Fasal Bima Yojana, the farmer is compensated for the crop loss due to unforeseen conditions.
In the Restructured Weather Based Crop Insurance Scheme the farmer is insured against the loss of crops due to the incidence of adverse conditions of weather parameters like rainfall, temperature, frost, humidity, etc.

Creation of Fund for Innovation and Technology (FIAT)

The Union Cabinet also approved the establishment of the Fund for Innovation and Technology (FIAT).

The total corpus of the FIAT is Rs.824.77 crore.
The fund will be used to promote research and development and provide funding for YES-TECH, WINDS, etc

Yield Estimation System using Technology (YES-TECH)

The Yield Estimation System using Technology (YES-TECH) uses remote sensing technology to assess the yield of the standing crops. The government uses the General Crop Estimation Survey (GCES) to estimate the yield of standing cops.
The weightage of the YES-TECH in the GCSE will be a minimum of 30 percent.
At present, the YES-TECH project is being implemented in 9 states -Madhya Pradesh, Odisha, Haryana, Andhra Pradesh, Karnataka, Assam, Uttar Pradesh, Maharashtra, and Tamil Nadu & Karnataka
Madhya Pradesh is the only state in India that has adopted 100 % technology-based estimation.

About Weather Information and Network Data Systems (WINDS)

Under the Weather Information and Network Data Systems (WINDS), Automatic Weather Stations (AWS) will be set up at the block level and Automatic Rain Gauges (ARGs) at the panchayat level to collect data.
WINDS is being implemented in Uttar Pradesh, Kerala, Assam, Himachal Pradesh, Karnataka, Puducherry, Odisha, Rajasthan and Uttarakhand.
For the first year, the funding pattern of the WINDS will be - the central government will bear 90 % of the cost while the state will bear 10% cost.