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Crop Insurance Week:

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%.
  • Objectives:
    • 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).

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