Which of the following statements is/are correct ? 1. The Government of India has discontinued the Pradhan Mantri Fasal Bima Yojana. 2. The Government of India has approved the continuation of Restructured Weather Based Crop Insurance Scheme. Select the answer using the code given below :

The Government of India has not discontinued the Pradhan Mantri Fasal Bima Yojana (PMFBY); rather, it has actively strengthened and extended it. In January 2025, the Union Cabinet approved the continuation of both PMFBY and the Restructured Weather Based Crop Insurance Scheme (RWBCIS) until the year 2025-26 [2]. This extension, aligned with the 15th Finance Commission period, involves a total budget allocation of ‡69,515.71 crore [2]. PMFBY, launched in 2016, remains a flagship scheme aimed at providing financial support to farmers against crop losses due to natural calamities [3]. RWBCIS, which operates on a weather index-based methodology, was introduced alongside PMFBY and also received approval for continuation to ensure comprehensive risk mitigation for various crops [2]. Therefore, statement 1 is incorrect, while statement 2 is correct.

Sources

1. [1] https://www.pib.gov.in/PressNoteDetails.aspx?id=155010&NoteId=155010&ModuleId=3
2. [2] https://www.pib.gov.in/PressReleasePage.aspx?PRID=2104175
3. [3] Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 10: Agriculture - Part I > 10.14 Pradhan Mantri FasalBima Yojana (PMFBY) > p. 321