- Union Jal Shakti Minister Gajendra Singh Shekhawat said that farmers will be compensated for crop loss caused by weather under the Pradhan Mantri Fasal Bima Yojana.
- Over 11.42 crore farmers have registered for the scheme, and a claim amount of ₹1.32 lakh crore has been distributed to insured farmers.
- The scheme aims to provide financial support and stability to farmers during periods of crop loss due to weather.
- The Pradhan Mantri Fasal Bima Yojana is a flagship crop insurance scheme launched in 2016, replacing earlier schemes.
What is the Pradhan Mantri Fasal Bima Yojana?
The Pradhan Mantri Fasal Bima Yojana is a crop insurance scheme launched in 2016 to provide financial support and stability to farmers in case of crop loss due to natural calamities, pests, or diseases. The scheme aims to increase the coverage of farmers, minimize the premium burden, and provide timely compensation for crop loss.
Compensation for Crop Loss Due to Weather
Union Jal Shakti Minister Gajendra Singh Shekhawat said that farmers would be compensated for crop loss caused by weather under the Pradhan Mantri Fasal Bima Yojana. This move will benefit farmers who face losses due to events like drought, floods, or excessive rainfall. The compensation amount will be calculated based on the extent of crop loss, and farmers will receive it through direct benefit transfer.
Scheme Benefits and Success
More than 11.42 crore farmers have registered for the Pradhan Mantri Fasal Bima Yojana, and the scheme has distributed ₹1.32 lakh crore in claim amounts to insured farmers. This scheme has provided a safety net for farmers, ensuring they have access to timely compensation for crop loss. Additionally, the scheme has also helped in increasing the penetration of crop insurance among farmers and making it more accessible.
