In a bid to raise farmers’ income and ensure safety of their crops, a compensation of Rs 3074.6 crore has been deposited in the accounts of 27.59 lakh farmers in Uttar Pradesh under the Pradhan Mantri Fasal Bima Yojana. A large number of farmers from the state are connected with this scheme.
PM Fasal Bima Yojana has been a hit all across the country with farmers in huge number embracing the scheme, which insures them in the event of crop failure due to natural disasters, pests, or diseases. Under the Fasal Bima Yojana from Kharif 2016 till Kharif 2021 every year about 5.5 crore farmers from across the country applied for crop insurance and more than 21 thousand crore premium has been collected and farmers have got more than 1.15 lakh crore payment as insurance claim.
Launched in 2016-17, PMFBY is globally the largest crop insurance scheme in terms of farmer participation and the third largest in terms of the premium.
Under the scheme, there is a uniform premium of only 2% to be paid by farmers for all Kharif crops and 1.5% for all Rabi crops. In case of annual commercial and horticultural crops, the premium to be paid is only 5%. This scheme has given great relief to the farmers. Chief Minister Yogi Adityanath has implemented this scheme of the central government at the gram panchayat level in all the districts of UP.
In this scheme, the farmers who are doing agriculture by taking loans are compulsorily included. Rest farmers have got their insurance done voluntarily.
According to a spokesperson of the UP government, during the tenure of the Yogi government, a total of 281.25 lakh insured farmers have got insurance of their crops, in which a compensation of Rs 3074.60 crore has been paid to 27.59 lakh farmers. This also includes payment of crop compensation of Rs 654.85 crore to 7.02 lakh farmers in Kharif season 2021. In Rabi 2021-22, an area of 14.21 lakh hectares has been insured by 19.90 lakh farmers. The process of compensation for which is going on, he said.
This scheme was launched in India by Ministry of Agriculture & Farmers welfare from Kharif 2016 season onwards. National Insurance Company started participating in PMFBY from Rabi 2016 onwards.
Pradhan Mantri Fasal BimaYojana (PMFBY) aims at supporting sustainable production in agriculture sector by way of providing financial support to farmers suffering from crop loss/damage arising out of unforeseen events, stabilizing the income of farmers from farming and encouraging farmers to adopt innovative and modern agricultural practices. The scheme also aims at ensuring a flow of credit to the agriculture sector which contributes to food security, crop diversification and enhancing growth and competitiveness of agriculture sector besides protecting farmers from production risks.
All farmers sanctioned Seasonal Agricultural Operations (SAO) loans (Crop Loans) from Financial Institutions for the notified crop season, would be covered compulsorily. The scheme is optional for non-loanee farmers. The insurance coverage is equivalent to sum insured/hectare, as defined in the government notification or /and on National Crop Insurance Portal multiplied by sown area for notified crop.
Source - https://newsonair.com
