India - Odisha farmers will now get crop insurance at 2 percent premium
25.04.2016 385 views
Under the Pradhan Mantri Fasal Bima Yojana (PMFBY), farmers in Odisha will now get a benefit of crop insurance in premium of 2 per cent. The rest of the premium burden will be shared by the State and the Central government. Previously, farmers were paying a premium of 4 to 15 per cent to insure crops.
The new crop scheme is pro-farmer and prepared after consultations with various stakeholders including Ministries/Department, NITI Aayog, State Governments, Insurance regulatory and Development Authority, insurance companies etc.
Odisha government will consult with private insurance companies. Insurance will cover the losses on account of natural calamities.
Source - www.odishanewsinsight.com
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