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Key Cabinet Approvals Announced on January 1, 2025.

Goverment Scheme | Dated: 04 Jan 2025

On January 1, 2025, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved several important schemes and projects:

🎯 Key Highlights:

  • - The Union Cabinet approved the continuation of the Pradhan Mantri Fasal Bima Yojana (PMFBY) and the Restructured Weather Based Crop Insurance Scheme (RWBCIS) till 2025-26, with a total outlay of Rs. 69,515.71 crore for the period from 2021-22 to 2025-26.
  • - The Cabinet approved the creation of a Fund for Innovation and Technology (FIAT), with an outlay of Rs. 824.77 crore, aimed at integrating advanced technologies in insurance schemes.

💡 Other Important Facts:

  • (i) The Union Cabinet approved the extension of the One-time Special Package on Di-Ammonium Phosphate (DAP) beyond the Nutrient Based Subsidy (NBS) subsidy at Rs. 3,500 per metric ton (MT) for the period from January 1, 2025, until further orders, to provide affordable DAP to farmers. The tentative budget for this initiative is approximately Rs. 3,850 crore.
  • (ii) The Union Cabinet approved the signing of a Memorandum of Understanding (MoU) between the Ministry of Cooperation (MoC), Government of India (GoI), and the Ministry of Trade, Indonesia, to facilitate the trade of one million metric tons (MT) of Non-Basmati White Rice (NBWR) annually, based on production and international prices.

📚 Test Your Knowledge:

Who recently chaired the Union Cabinet meeting on January 1, 2025, approving key schemes and projects?

Correct Answer: Narendra Modi

🚀 Quick Recap: