Prime Minister Narendra Modi has said that PM Fasal Bima Yojana is an important initiative to secure hardworking farmers from the vagaries of nature.
Congratulating all beneficiaries of the scheme on completion of its five years, the Prime Minister added that the scheme has increased coverage, mitigated risk and benefitted crores of farmers in the country.
The Centre has urged the farming community to take advantage of the Pradhan Mantri Fasal Bima Yojana (PMFBY), which has completed 5 years, in order to become "self-reliant farmers". In a statement, the Union agriculture ministry said claims worth 90,000 crore rupees have so far been disbursed to farmers since the launch of the scheme on 13th January 2016.
The Central Government’s flagship crop insurance scheme - the Pradhan Mantri Fasal Bima Yojana (PMFBY) has successfully completed 5 years of its operation.
The government took a historic step towards strengthening risk coverage of crops for farmers and approved the scheme on 13th January, 2016. The scheme was conceived as a milestone initiative to provide a comprehensive risk solution at the lowest uniform premium across the country for farmers. In the scheme, premium cost over and above the farmer share is equally subsidized by the Centre and States. Ministry of Agriculture has said that the average sum insured per hectare has increased from 15 thousand 100 during the pre-PMFBY Schemes to 40 thousand 700 under Pradhan Mantri Fasal Bima Yojana.
The Ministry said, as an end to end risk
mitigation mechanism for farmers, the scheme extends coverage for the
entire cropping cycle from pre-sowing to post-harvest including coverage
for losses arising out of prevented sowing and mid-season adversities.
Individual farm level losses arising out of localized calamities and
post-harvest losses are also covered due to perils such as inundation,
cloudburst and natural fire. It also said that integration of land
records with the PMFBY portal, Crop Insurance mobile-app for easy
enrollment and usage of technology such as satellite imagery and machine
learning to assess crop losses are some of the key features of the
scheme. The scheme makes it easier for the farmer to report crop loss
within 72 hours of occurrence of any event through the Crop Insurance
App, CSC Centre or the nearest agriculture officer.
With an aim to constantly bring about improvements, the Pradhan Mantri
Fasal Bima Yojana was made voluntary for all farmers, post its revamp in
February 2020. Besides, the States have also been provided flexibility
to rationalize the sum insured so that adequate benefit can be availed
by the farmers. The Scheme covers over 5.5 crore farmers' applications
year on year and till date, claims worth 90 thousand crore rupees have
already been paid out under the Scheme. Aadhar seeding has helped in
speedy claim settlement directly into the farmer accounts. Even during
COVID-19 lock down period nearly 70 lakh farmers benefitted and claims
worth over 8 thousand 741 crore rupees were transferred to the
beneficiaries. The government has urged the farmers to take advantage of
the scheme by associating themselves to become self-sufficient in times
of crisis and support the creation of an Aatmanirbhar Kisan.
{ With input from news agency language)
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