In the coming days, the government may make a big decision on the Pradhan Minister’s Crop Insurance Scheme (PMFBY). The central government plans to increase the purpose of this project. According to a report, the government can include farmers who are involved in the crop insurance and the farmer’s credit card (KCC) (KCC). It is believed that this decision by the government will benefit millions and this decision will expand the area under insurance.
40 percent of farmers have no land
The Financial Financial Express quoted by the Secretary of Agriculture and Farmers’ Welfare, Devesh Chaturvedi, said, “From next season, we will open ESCR accounts with the state governments to compensate farmers, so that the government can pay our share in the right time.” He said that the National Review Conference of the Prime Minister’s Crop Insurance Scheme was marginalized on Friday. According to the current situation, out of 14 crore farmers in the country, 4.1 crore farmers are under the crop insurance scheme, and 40 per cent of the total crop area is closed. At the same time, about 40 percent of landless farmers cultivate leasing.
Compensation on the Prime Minister’s farmer’s taxes!
It is said that there is a plan to determine the dates of compensation under crop insurance based on the Prime Minister-farmers. It is noteworthy that under the Prime Minister’s farmer, farmers are transferred to three equal installments each year. According to Chaturvedi, there is a delay in paying compensation to farmers for crop loss because many states do not allocate money in a timely manner. Since the project was launched nine years ago, the states have not seen about Rs 4,440 crore in resolving the claims.
How to pay insurance amount
As for premium fees, the center, state and farmers are 40 percent, 48 and 12 per cent respectively. Devesh Chaturvedi also provided information on how shareholders or cultivators will be included in the scheme. He said such farmers would be included in the consent of the land owner and that there was a debate on the use of data from the farmers’ unique digital ID. The purpose is to compensate for the risks of such farmers.
Which state project area
Rajasthan, Madhya Pradesh and Maharashtra include more parts under crop insurance than the national average. At the same time, Uttar Pradesh, Odisha and Karnataka are behind. The Ministry of Agriculture is aimed at adding all KCC holders involved in the process of livestock and fisheries using farmers’ Digital ID. Currently, 7.71 crore operations are KCC holders, including 44 lakh card holders for animal farming activities. The Ministry of Agriculture is discussing the adding of paddy to demand crop loss.
Insurance of wild animals attack!
Also, a group has been set up to finalize how crop losses caused by wild animal attacks can be compensated. The crop insurance scheme was launched in 2016. Since then, more than Rs. The number is five times higher than the total premium paid Rs 35,466 crore under this scheme. The state and the federal government are the economic burden of insurance.
6 outside the state plan
Six states have been selected to leave the scheme, including Gujarat, Bihar, West Bengal, Andhra Pradesh, Telangana and Jharkhand. Punjab refused to join the project, citing the previous safe irrigation and low compensation conditions, and then approved it for horticulture crops. However, Andhra Pradesh, Telangana and Jharkhand have reunited. At the same time, the Delhi government has also agreed to join the crop insurance scheme.
What is the purpose of the project
Under the crop insurance scheme, the goal is to provide detailed recovery coverage from sowing previous crops. Farmers pay 1.5 per cent of the amount insured for rabi crops and two per cent for Carif crops. This is 5 percent for cash crops. The remaining premium is evenly distributed between the center and the states. At the same time, this is not the case in the northeastern states. In these states, the premium is divided between the center and the state at a rate of 9: 1.
More than 100 crop insurance
More than 100 crops have crop insurance, including floods, landslides, hurricanes, hailings, and harm after harvest. Currently, the project is implemented in fourteen of the 20 listed insurance companies in the public and private sector. According to the revised estimate of the 2025 fiscal year, the center has spent Rs 15,864 crore under the Crop Insurance Scheme.
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