As many as 88,644 farmers who opted for Pradhan Mantri Fasal Bima Yojana (PMFBY) for the 2023-24 kharif season have together received ₹101.619 crore assured amount for crop loss owing to various factors.

Deputy Commissioner Fouzia Taranum has said that the sum assured has already been deposited in the respective bank accounts of the individual farmers by the insurance company.

As per information Ms. Taranum provided, ₹94.558 crore was transferred to the bank accounts of 69,829 farmers under the basis of crop cutting assessment, ₹6.242 crore to 18,433 farmers under the localised calamities category and ₹81.927 lakh to 382 farmers under post-harvest loss category.

Most of the farmers are growers of black gram, soybean and red gram.

“A sum ₹35.95 lakh could not be transferred to 281 farmers owing to issues related to Aadhaar-bank account linkage. The details of such farmers are available at the local Raitha Samparka Kendra. The amount will be transferred to the accounts of the beneficiaries soon after they link their Aadhaar with their bank accounts,” Ms. Taranum said in a media note.

The officer made it clear that the current payment of insurance amount excluded ₹83.63 crore that 1,20,724 farmers received in December 2023 for the loss of red gram in rain-fed areas.

“If we put together the insurance amount paid to farmers in 2023-24, it will come to ₹185.259 crore,” she said.

In 2023-24, 1,62,071 farmers opted for insurance for their crops cultivated in 1,86,850 hectares. A sum of ₹160.30 crore was given to the insurance company concerned as premium. While the farmers contribution to the premium was ₹18.47 crore, the Union and State governments paid ₹70.92 crore each.

Source - https://www.thehindu.com