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Cabinet approves New Crop Insurance Scheme Pradhan Mantri Fasal Bima Yojana A boost to the farming sector

News and Press Release - Dated:- 13-1-2016 - The Union Cabinet chaired by the Prime Minister Shri Narendra Modi today has approved the Pradhan Mantri Fasal Bima Yojana - a path breaking scheme for farmers welfare. The highlights of this scheme are as under: i) There will be a uniform premium of only 2% to be paid by farmers for all Kharif crops and 1.5% for all Rabi crops. In case of annual commercial and horticultural crops, the premium to be paid by farmers will be only 5%. The premium rates t .....

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ng has now been removed and farmers will get claim against full sum insured without any reduction. iv) The use of technology will be encouraged to a great extent. Smart phones will be used to capture and upload data of crop cutting to reduce the delays in claim payment to farmers. Remote sensing will be used to reduce the number of crop cutting experiments. The new Crop Insurance Scheme is in line with One Nation - One Scheme theme. It incorporates the best features of all previous schemes and a .....

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