Agriculture Minister Narendra Singh Tomar informed Parliament that for every Rs 100 premium paid by farmers under the flagship scheme Pradhan Mantri Fasal Bima Yojana (PMFBY), they have received around Rs 514 as claims.
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Agriculture Minister Narendra Singh Tomar informed Parliament on Friday that for every Rs 100 premium paid by farmers under the flagship scheme Pradhan Mantri Fasal Bima Yojana (PMFBY), they have received around Rs 514 as claims. He said in his written reply to the Rajya Sabha that since the implementation of the scheme in the year 2016, about 38 crore farmer applicants have registered and more than 12.37 crore claims have been received.
How much benefit did the farmers get?
The minister said that during this period, farmers have paid Rs 25,252 crore as their premium share. Instead, he has been paid claims of more than Rs 1,30,015 crore. The minister further informed that therefore, for every Rs 100 premium paid by the farmers, they have received around Rs 514 as claims.
Pradhan Mantri Fasal Bima Yojana was launched to deal with the difficulties faced by the farmers in reducing the amount of insurance due to imposition of high premium rate and limit amount. In a separate reply, the minister had said that the scheme is available to all states or union territories and is optional for them. He said that it is also optional for the farmers to register themselves on the basis of their risk appetite.
What is this scheme?
PMFBY was started with an aim to overcome the problems related to sum insured due to high premium rates and capping for the farmers. In a separate reply, the minister said that PMFBY is available to all states and union territories and is voluntary. It is also voluntary for the farmers to enroll themselves as per their risk perception.
Let us tell you that under this scheme, the main task is to provide crop insurance and financial assistance to the farmers in case of damage to the crops notified by the government due to natural calamities, insects and diseases. Apart from this, efforts are also being made to keep farmers interested in farming and to provide them permanent income through this scheme.
Source: www.tv9hindi.com”
