♦ The Union Cabinet on 1 January 2025 approved the continuation of the Pradhan Mantri Fasal Bima Yojana (PMFBY) and the Restructured Weather-Based Crop Insurance Scheme (RWBCIS) until 2025-26, with an overall outlay of Rs. 69,515 crore for the period 2021-22 to 2025-26. 

♦ The Cabinet has also approved the establishment of the Fund for Innovation and Technology (FIAT) with a corpus of Rs. 824 crore. This fund will support large-scale technological infusion, ensuring greater transparency and improved claim calculation and settlement under the scheme.

♦ The Union Cabinet has approved an extension of the One-time Special Package on Di-Ammonium Phosphate (DAP). This package, providing an additional subsidy of ₹3,500 per metric tonne over the existing Nutrient-Based Subsidy (NBS), will now continue beyond January 1, 2025, until further notice. The decision aims to ensure the continued availability of DAP at affordable prices for farmers.