Whalesbook
Stable Allocation for Crop Insurance
Union Budget 2026 confirmed an allocation of ₹12,200 crore for the Pradhan Mantri Fasal Bima Yojana (PMFBY). This figure represents a marginal change from the previous year's revised estimates of ₹12,267 crore and the 2025-26 budget estimate of ₹12,242 crore. The PMFBY, a flagship government scheme since 2016, provides financial safety nets for farmers facing crop losses due to natural calamities.
Focus on Diversification and High-Value Crops
Finance Minister Nirmala Sitharaman emphasized a strategic shift towards enhancing farm outputs and farmer incomes. The budget proposes support for high-value crops, including coconut, sandalwood, cocoa, cashew, agar trees, and various nuts like almonds and walnuts. This initiative aims to diversify agricultural production and unlock new employment opportunities.
Launch of Bharat-VISTAAR AI Tool
A significant technological advancement announced is the launch of Bharat-VISTAAR. This multilingual artificial intelligence tool will integrate agricultural databases and practices from AgriStack portals and the Indian Council of Agricultural Research (ICAR). The objective is to significantly boost farm productivity, empower farmers with better decision-making capabilities, and reduce risks through tailored advisory services.
Scheme Continuations Approved
Prior to the budget presentation, the Union Cabinet in January 2025 approved the continuation of PMFBY and the Restructured Weather-Based Crop Insurance Scheme (RWBCIS) through 2025-26. This approval came with a total budgetary outlay of ₹69,515.71 crore, underscoring the government's ongoing commitment to providing risk coverage for farmers against adverse weather events and natural disasters. PMFBY covers staple crops, while RWBCIS is designated for horticulture.