The Pradhan Mantri Pik Bima Yojana (PMPBY) has been implemented in the state from this year. It's a central scheme under which policy the premium to be paid by farmers has been reduced to 2% of the sum insured for all the crops, and the rest will be borne by the state and central governments. Under the PMPBY, many more conditions in which claims can be made in case of a damaged crop, have been included, like post-harvest losses. The indemnity levels have also been increased from 60-70%, so that higher damages can be recovered.
"The rains have been very good this year, which has made farmers hopeful about a good crop yield and so farmers did not take any insurance," said a senior agriculture department official. So far more than 98% of the sowing for the kharif season has been completed.
Another official said under the new scheme, sugarcane growers have been excluded, so the numbers have dwindled. Of the set target of over Rs 37,000 crore as agriculture loans to farmers, Rs 27,000 crore has been disbursed. This year over 40 lakh farmers have taken farm loans, as against 37 lakh last year.
Source - http://timesofindia.indiatimes.com
