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Finance Minister Shri Arun Jaitley Low premium New Crop Insurance Insurance Scheme would reduce distress in the Farm Sector; Launches the NABARD Agri-Credit Monitoring portal which will help financial institutions to monitor the status of agricultural loans given to farmer; Unveils the Roadmap of E-Shakti Expansion Programme of digitization of Self-Help Groups (SHGs)

News and Press Release - Dated:- 22-3-2016 - The Union Finance Minister Shri Aurn Jaitley launched the Pradhan Mantri Fasal Bima Yojana and the Unified Package Insurance Scheme in Mumbai today. Following-up his focus on the agriculture sector in the General Budget 2016-17 presented by him in Parliament on 29th February, 2016, Shri Jaitley said agriculture will have to grow faster for the country to get rid of poverty and push the overall GDP expansion . He said that agriculture was absolutely cr .....

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e scheme with a difference, and the difference is absolutely critical to the Indian farmer Shri Jaitley said. He added that since the new scheme was dependent on large volume, it would cover much larger risks at a very low premium. The farmers premium would be 2% for Kharif foodgrains and oilseeds crops and 1.5% for rabi crops. In the event of a crop failure, a farmer will be paid more. The Finance Minister said the Government aims to cover 50 percent of the farmers, mostly those depending upon .....

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