Prime Minister Crop Insurance Scheme completes 5 years, government asks farmers to take full advantage of it
New Delhi: The government has asked farmers to take full advantage of the Pradhan Mantri Crop Insurance Scheme (PMFBY) launched to provide a comprehensive crop risk insurance solution at the lowest premium so that they can become self-reliant farmers. This scheme is now five years old. The scheme was implemented on 13 January 2016 as a notable initiative of the government. In this, in addition to the share of the farmer, the premium is paid equally by the states and the Government of India. The Government of India provides 90 percent of the premium assistance in the North Eastern states.
The government urged farmers to take advantage of the scheme to become self-sufficient in times of crisis and support the creation of a self-sufficient farmer. According to the government release, the average insured amount under PMFBY has been increased to Rs 40,700 which was Rs 15,100 per hectare during the pre-PMFBY schemes. The plan covers the entire cycle from pre-sowing cycle to post-harvest, including the loss from unfavorable conditions in between sowing and harvest. Local disasters caused by hazards such as floods, cloudbursts and natural fires, and post-harvest individual farming have been included in the level of damage.
The scheme was made voluntary for all farmers, reformed in February 2020, as part of an effort to continuously improve. States have also been given flexibility to rationalize the insurance amount so that sufficient benefits can be availed by the farmers. According to the Ministry of Agriculture, the scheme receives applications from 5.5 crore farmers throughout the year. Till now, claims worth Rs 90,000 crore have been paid under the scheme. Aadhaar seeding has helped speed up claim settlement directly in the farmer's accounts. According to the government, around 70 lakh farmers benefited during the Kovid lockdown period and claims worth Rs 8741.30 crore were transferred to the beneficiaries during this period.