Crop Insurance Week::
Government has launched the Crop Insurance Awareness Campaign for Fasal Bima Yojana during the Crop Insurance Week (being observed from July 1 to 7).
- Till date, the scheme has insured over 29.16 crore farmer applications (5.5 crore farmer applications on year-on-year basis).
- Over the period of 5 years, more than 8.3 crore farmer applications have benefited from the scheme.
- Moreover, Rs.95,000 crores claims have been paid as against Rs. 20,000 crore farmers share.
About Pradhan Mantri Fasal Bima Yojana:
- It is in line with the One Nation – One Scheme theme- It replaced National Agricultural Insurance Scheme (NAIS) and Modified National Agricultural Insurance Scheme (MNAIS).
- Launched in 2016.
- Coverage: All food & oilseed crops and annual commercial/horticultural crops for which past yield data is available.
- Premium: The prescribed premium is 2% to be paid by farmers for all Kharif crops and 1.5% for all rabi crops. In the case of annual commercial and horticultural crops, the premium is 5%.
- To provide insurance coverage and financial support to the farmers in the event of failure of any of the notified crops as a result of natural calamities, pests & diseases.
- To stabilise the income of farmers to ensure their continuance in farming.
- To encourage farmers to adopt innovative and modern agricultural practices.
- To ensure flow of credit to the agriculture sector.
- The Scheme covers all Food & Oilseeds crops and Annual Commercial/Horticultural Crops for which past yield data is available and for which requisite number of Crop Cutting Experiments (CCEs) are being conducted under General Crop Estimation Survey (GCES).