NABARD Grade A Current Affairs — 24 October 2026

The PIB factsheet summarises India's agricultural transformation under recent policy: record foodgrain production exceeding 330 million tonnes, MSP hikes across 14 kharif and 6 rabi crops, PM-KISAN delivering ₹6,000 annually to over 11 crore farmers, and PM Fasal Bima Yojana covering cropped area with subsidised premiums. Allied sectors—fisheries, animal husbandry, dairying—have received dedicated missions with expanded credit flows through Kisan Credit Cards, targeting doubling farm income.

India's agricultural policy rests on four interlocking pillars: price support (MSP), income support (PM-KISAN), risk mitigation (PMFBY), and credit access (KCC). Understanding how these interact is essential for both UPSC and NABARD aspirants.

Minimum Support Price (MSP) is announced by Ccabinet on the recommendation of CACP (Commission for Agricultural Costs and Prices), covering 23 crops. The 'A2+FL' formula includes actual paid-out costs plus imputed value of family labour, while the C2 formula additionally includes imputed rent and interest on owned capital — the distinction between these two cost formulae is a frequent exam trap.

PM-KISAN (Pradhan Mantri Kisan Samman Nidhi), launched in February 2019, provides ₹6,000 per year in three equal instalments of ₹2,000 directly to landholding farmer families. The scheme excludes institutional landholders and government employees above a salary threshold.

PM Fasal Bima Yojana (PMFBY), launched 2016, replaced NAIS and MNAIS. Premium rates are capped at 2% for kharif, 1.5% for rabi food and oilseeds, and 5% for annual commercial/horticultural crops. The government pays the balance premium. It operates on an actuarial premium model unlike the flat-rate earlier schemes.

Kisan Credit Card (KCC), originally introduced in 1998, provides short-term credit for crop cultivation, post-harvest expenses, and allied activities. The scheme was extended to fishermen and animal husbandry farmers. Credit limit up to ₹3 lakh is eligible for interest subvention under the Interest Subvention Scheme.

Under the allied sector, PM Matsya Sampada Yojana (PMMSY) with an outlay of ₹20,050 crore targets doubling fish production to 22 million metric tonnes by 2024-25, while the Animal Husbandry Infrastructure Development Fund (AHIDF) of ₹15,000 crore supports private investment in dairy and meat processing infrastructure.

Atal Vayo Abhyuday Yojana (AVYAY), formerly known as the National Action Plan for Senior Citizens, is India's umbrella scheme for elderly welfare under the Ministry of Social Justice and Empowerment. It consolidates multiple sub-schemes including IGNOAPS, IGNDPS, Rashtriya Vayoshri Yojana, and Senior Care Ageing Growth Engine (SAGE). The scheme focuses on financial security, healthcare, shelter, and skill development for senior citizens, targeting those above 60 years, with special attention to BPL elderly populations.

AVYAY represents India's policy response to a demographic challenge: the elderly population (60+) is projected to reach 347 million by 2050, creating massive demand for integrated care systems. The scheme was restructured under a single umbrella to improve convergence and eliminate duplication across earlier fragmented schemes.

Key sub-components carry distinct exam-testable features. Indira Gandhi National Old Age Pension Scheme (IGNOAPS) provides ₹200/month for those aged 60-79 and ₹500/month for those 80+ from BPL households. Rashtriya Vayoshri Yojana provides physical aids and assisted-living devices to senior citizens from BPL categories, implemented through ALIMCO (Artificial Limbs Manufacturing Corporation of India). The SAGE (Senior Care Ageing Growth Engine) portal, launched in 2021, acts as a 'one-stop shop' connecting elderly citizens to verified start-up products and services.

The scheme sits at the intersection of social security, financial inclusion, and health policy — making it relevant across UPSC (governance and welfare delivery), NABARD (rural elderly and BPL targeting), and RBI (financial security as a financial inclusion angle). The implementing ministry — Ministry of Social Justice and Empowerment — is a recurring anchor in MCQs. Examiners routinely test whether aspirants can distinguish between sub-scheme parameters: pension amounts, age thresholds, and implementing agencies.